Thus, where the payment of the new value is subject to Section 547(c)(2)'s ordinary course of business
or Section 547(c)(1)'s contemporaneous exchange for new value defenses, the payment would be an unavoidable transfer that disqualifies the creditor from including the paid new value as part of the creditor's new value defense.
The district court disagreed, concluding that because the transfer qualified as a transaction in the ordinary course of business
Additionally, companies in bankruptcy are able to avoid (or undo) fraudulent transfers, including transfers to insiders not in the ordinary course of business
. Therefore, executives are at risk that pre-bankruptcy payments they receive (cash or otherwise) may be subject to being "avoided" with the executive potentially having to return to the company what was received.
The US$2.5 billion transaction at issue involved Apollo agreeing to purchase Cooper for US$35 per share, Subsequent to the merger announcement, labor unions at Cooper's Chinese joint venture went on strike, effectively preventing the joint venture from functioning at full capacity in the ordinary course of business
. The minority partner at the Chinese joint venture, Chairman Che, used his position of authority over the workers to physically seize the facility, prohibiting the production of Cooper products on site and denying the merger parties access to both the facility and the joint venture's financial records.
In the ordinary course of business
, Canso conducts analysis of securities in which it may invest on behalf of the funds and/or accounts.
The company intends to operate in the ordinary course of business
during this period and continue to provide a high level of responsiveness to its customers, vendors and business partners.
If the Australian experience mirrors that of New Zealand, it will be some time before there is any significant litigation over the meaning of 'ordinary course of business
' in this context.
It contains new models for introducing email chains/strings; digital images; computer simulations; examination of a creditor on the "ordinary course of business
" exception to preferential transfers; and examination of a debtor to declare a debt nondischargeable.
Glover said farmers had a strong defense by showing that the payments were part of an ordinary course of business
In some states, payments made in the ordinary course of business
are protected from recovery as preferences.
The term "item" has been clarified to mean, as an initial matter, the property offered by the taxpayer to its customers in the ordinary course of business
, without regard to whether the taxpayer sells on a retail or wholesale basis.
* Treating amounts owed to suppliers of goods delivered in the ordinary course of business
during the 20 days prior to filing the Chapter 11 petition as administrative claims.