Preferential Transfer

306 Florida cases classified under this topic · sorted by citation count · see the citation graph · browse and sort

• Weinberger v. Kendrick
  698 F.2d 61· 2d Cir.· 1982-07-14 ·cited 78×
  The court reaffirms its prior decision affirming the approval of a class action settlement, clarifying its reasoning and correcting a factual statement.
• Mayo v. Pioneer Bank & Tr. Co.
  297 F.2d 392· 5th Cir.· 1961-12-07 ·cited 55×
  The court held that the bank had reasonable cause to believe the debtor was insolvent when it accepted the payment, making the transfer a voidable preference.
• Koch Refining v. Farmers Union Cent. Exch., Inc.
  831 F.2d 1339· 7th Cir.· 1987-10-07 ·cited 50×
  The court held that a trustee may maintain an alter ego action against member-owners and that the oil companies meet constitutional standing requirements.
• Ralph I. Selby in Bankr. for the Frimberger Corp. v. Ford Motor Co.
  590 F.2d 642· 6th Cir.· 1979-01-11 ·cited 46×
  Payments made to subcontractors from construction funds, even within four months of bankruptcy, are not preferential transfers if the funds are impressed with a statutory trust under state law, because the contractor has insufficient beneficial interest to constitute 'property' u
• Jackson v. The Citizens Bank & Tr. Co.
  53 Fla. 265· Fla.· 1907-01-01 ·cited 46×
  The Florida Supreme Court upheld a jury verdict in favor of the Citizens Bank and Trust Company, rejecting a sheriff's challenge to the validity of a sale of goods by an insolvent debtor to a creditor. The case establishes important principles regarding fraudulent transfers: cred
• In re Casco Chem. Co. v. Superintendence Co., Inc.
  335 F.2d 645· 5th Cir.· 1964-08-10 ·cited 38×
  An independent action under Rule 60(b) is not subject to the one-year time limit applicable to motions under grounds (1)-(3), but only to laches. The denial of summary jurisdiction in bankruptcy was correct because the funds were not in the bankrupt's possession.
• Cent. States Corp. v. Luther
  215 F.2d 38· 10th Cir.· 1954-08-13 ·cited 38×
  The bankruptcy court lacks jurisdiction to issue a turnover order for property not belonging to the bankrupt estate, especially in ordinary bankruptcy proceedings.
• In re Halpern v. Bankruptcy
  426 F.2d 102· 2d Cir.· 1970-05-08 ·cited 37×
  A prior judgment based on multiple independent, alternative grounds is not conclusive as to issues necessarily found to support only one of those grounds, particularly when those issues involve intent.
• Eureka-Carlisle Co. v. Bankruptcy
  398 F.2d 1015· 10th Cir.· 1968-08-15 ·cited 36×
  The court held that the creditor had reasonable cause to believe the debtor was insolvent when it received preferential payments, and these payments were on an antecedent debt.
• In re Lustron Corp. Reconstr. Fin. Corp. v. Lustron Corp.
  184 F.2d 789· 7th Cir.· 1950-10-23 ·cited 36×
  The bankruptcy court had jurisdiction to issue a restraining order to preserve the estate and prevent irreparable harm, and it did not err in refusing to transfer the case to a district where no bankruptcy petition was pending.
• In re Madrid v. Lawyers Title Ins. Corp.
  725 F.2d 1197· 9th Cir.· 1984-02-13 ·cited 34×
  A nonjudicial foreclosure sale is not a voidable transfer under 11 U.S.C. § 548 if the debtor did not participate in the transaction.
• Nelson v. Cravero Constructors, Inc.
  117 So. 2d 764· Fla. 3d DCA· 1960-02-11 ·cited 34×
  The court held that the appellants failed to establish a prima facie case of fraudulent conveyance, and the evidence was legally insufficient to support a decree in their favor.
• Blumin v. Ellis
  186 So. 2d 286· Fla. 2d DCA· 1966-05-04 ·cited 33×
  Stockholders of Palmdale Water and Gas Company brought suit to enforce an equitable lien on assets sold to General Utilities, which subsequently went bankrupt. The court held that the stockholders had enforceable equitable liens under the purchase agreement, rejecting defenses ba
• WJM, Inc. v. Mass. Dep't OF Pub. Welf.
  840 F.2d 996· 1st Cir.· 1988-02-24 ·cited 31×
  The court held that the Department of Public Welfare waived its Eleventh Amendment immunity by filing proofs of claim in the nursing homes' bankruptcy proceedings, but erred in awarding prejudgment interest as there was no express waiver for interest.
• In re Burton Lewis Arnett and Charlotte Arnett v. Sec. Mut. Fin. Corp.
  731 F.2d 358· 6th Cir.· 1984-04-10 ·cited 30×
  The dissenting judge would affirm the lower courts' decisions, finding the credit transaction to be a 'contemporaneous exchange' under 11 U.S.C. § 547(c)(1).
• Alan B. Miller in Bankr. of Am. IBC Corp. v. Wells Fargo Bank Int'l Corp.
  540 F.2d 548· 2d Cir.· 1976-07-15 ·cited 30×
  The court held that the payments made by AIBC to Wells Fargo Bank were preferential transfers because Wells Fargo had reasonable cause to believe AIBC was insolvent, and the transactions did not constitute valid assignments or security interests that would divest AIBC of property
• First Nat. Bank in Houston v. Lake
  199 F.2d 524· 4th Cir.· 1952-10-07 ·cited 28×
  A reorganization court has exclusive jurisdiction over the debtor's property, including collateral pledged to secure debts, and can enjoin other courts from adjudicating matters that interfere with its jurisdiction.
• Miles v. Katz
  405 So. 2d 750· Fla. 4th DCA· 1981-10-21 ·cited 26×
  Attorney Miles sought to enforce a charging lien and security interest in litigation proceeds against a competing judgment creditor Boltri. The court held that an attorney's charging lien is superior to judgment liens obtained after the attorney commenced services, and that the s
• Winthrop J. Allegaert v. Perot
  548 F.2d 432· 2d Cir.· 1977-01-25 ·cited 26×
  A bankruptcy trustee cannot be compelled to arbitrate claims arising under the Bankruptcy Act and federal securities laws, as these involve significant public policy interests that outweigh the general policy favoring arbitration.
• In re Telemart Enters., Inc. v. Holzman
  524 F.2d 761· 9th Cir.· 1975-09-17 ·cited 26×
  The court held that UCC § 2-702(2) is not an invalid statutory lien or a disguised state priority, but a valid right of rescission for voidable title. However, the court reversed due to procedural irregularities in the referee's adoption of findings.
• D. K. Porter in Bankruptcy of Abe Greenband v. Woodey B. Searle and Edlean E. Searle
  228 F.2d 748· 10th Cir.· 1955-12-19 ·cited 26×
  The court held that the equitable lien acquired by the sellers was not a preferential transfer under the Bankruptcy Act, as amended.
• In re N & D Props., Inc. v. N & D Props., Inc.
  799 F.2d 726· 11th Cir.· 1986-09-19 ·cited 25×
  The court held that a minority shareholder who became an insider and fiduciary must prove the fairness of her transactions with the debtor, and her claim should be equitably subordinated due to self-serving conduct. However, her loans will not be treated as capital contributions,
• Coleman v. Alcock
  272 F.2d 618· 5th Cir.· 1959-12-04 ·cited 25×
  A bankruptcy trustee is not bound by a prior state court judgment against the bankrupt when the trustee asserts rights under Section 70(e) of the Bankruptcy Act, as the trustee represents all creditors and has a status superior to the bankrupt.
• In re JET Fla. Sys., Inc. v. Am. Airlines, Inc.
  861 F.2d 1555· 11th Cir.· 1988-12-27 ·cited 24×
  The court held that a creditor seeking the protection of 11 U.S.C. § 547(c)(1) must prove the specific valuation of the new value given to the debtor, and that a payment made on a non-customary settlement date is not in the ordinary course of business under § 547(c)(2).
• In re AIR Conditioning v. Leasing Serv. Corp.
  845 F.2d 293· 11th Cir.· 1988-05-17 ·cited 24×
  The court held that the transfer of a certificate of deposit by a debtor to secure a letter of credit for a creditor constitutes a preferential transfer under 11 U.S.C. § 547(b), and the trustee can recover the property from the creditor.
• In re S. Indus. Banking Corp. v. Emmett J. Foster
  809 F.2d 329· 6th Cir.· 1987-01-22 ·cited 24×
  The court held that the bankruptcy court had jurisdiction over the dispute as a related proceeding with consent, and that the denial of Foster's setoff claim was not clearly erroneous.
• Delgado OIL Co., Inc. v. Torres
  785 F.2d 857· 10th Cir.· 1986-03-05 ·cited 24×
  The filing of a bankruptcy petition deprives the district court of subject matter jurisdiction over actions to recover preferential transfers, vesting exclusive jurisdiction in the bankruptcy court.
• Brown v. First Nat'l Bank OF Little Rock
  748 F.2d 490· 8th Cir.· 1984-11-21 ·cited 24×
  Payments made by individual co-makers of a promissory note using their personal funds to satisfy the debtor's obligation are not avoidable preferential transfers under 11 U.S.C. § 547(b) because they do not deplete the debtor's estate.
• In re Diamond Door Co. v. Lane-Stanton Lumber Co.
  505 F.2d 1199· 9th Cir.· 1974-10-21 ·cited 24×
  The court held that the summary judgment procedure under Rule 56 is applicable in bankruptcy proceedings, even with a jury demand, and that the debtor's admissions established the elements of a preferential transfer.
• In re Charmar Inv. Co. v. Charmar Inv. Co.
  475 F.2d 560· 6th Cir.· 1973-03-22 ·cited 24×
  The court held that the appellees qualified as creditors under Section 59(b) of the Bankruptcy Act, and the District Court's jurisdictional findings were proper.
• In re United Mo. Bank OF Kan. City, N.A.
  901 F.2d 1449· 8th Cir.· 1990-04-23 ·cited 23×
  A bankruptcy judge lacks the statutory authority to conduct jury trials in a core bankruptcy proceeding alleging preferential transfers.
• In re Wagner
  808 F.2d 542· 7th Cir.· 1986-12-11 ·cited 22×
  The court held that 'gross income' in the Bankruptcy Code's definition of 'farmer' should be interpreted consistently with its meaning in federal income tax law to ensure a simple and certain test.
• Aaron Ferer & Sons Co. v. Atlas Scrap Iron & Metal Co.
  558 F.2d 450· 8th Cir.· 1977-06-30 ·cited 22×
  The court held that the appellees' contacts with Nebraska were insufficient to establish personal jurisdiction under the Due Process Clause.
• Williams v. Am. Crafts, Inc.
  129 So. 2d 165· Fla. 3d DCA· 1961-04-24 ·cited 22×
  In this appeal from a trial court's partial denial of relief in a contract rescission action, the Florida District Court of Appeal reversed in part and remanded, holding that corporate officers L.T. Ahrenholz and Martin S. Trop violated Florida's fraudulent conveyance statute by
• Hullum v. Bre-Lew Corp.
  93 So. 2d 727· Fla.· 1957-03-22 ·cited 22×
  The Florida Supreme Court reversed the trial court's dismissal of a complaint seeking to establish and foreclose an equitable lien on real estate. The case involved a father who obtained loans from his daughter for a motel project but failed to provide promised security, and late
• Ned Gill v. Phillips
  337 F.2d 258· 5th Cir.· 1964-10-15 ·cited 21×
  The court held that the appellant's actions did not constitute implied consent to the bankruptcy referee's summary jurisdiction to determine whether transfers were preferential or fraudulent.
• Clarke v. Chase Nat. Bank of City of N.Y.
  137 F.2d 797· 2d Cir.· 1943-07-29 ·cited 21×
  The court held that a trustee's dereliction of duties can be a proper part of a reorganization proceeding, and the trustee may be held liable for losses traceable to its culpable indifference.
• Mrs. M. A. Vickers v. John B. Glenn in Bankruptcy of the Estate of E. N. Dekle
  102 Fla. 535· Fla.· 1931-07-27 ·cited 21×
  A bankruptcy trustee sought to cancel a mortgage on the ground that it was recorded within four months of the debtor's bankruptcy filing, making it void under bankruptcy law. The Florida Supreme Court reversed, holding that the mortgage was actually delivered to the clerk for rec
• In re Compton Corp. v. Blue Quail Energy, Inc.
  831 F.2d 586· 5th Cir.· 1987-11-12 ·cited 20×
  A creditor cannot use a letter of credit to secure payment of an unsecured antecedent debt, as this constitutes an indirect preferential transfer recoverable by the bankruptcy trustee.
• In re King-Porter Co., Inc. v. Bankruptcy
  446 F.2d 722· 5th Cir.· 1971-07-19 ·cited 20×
  The court held that the claimant perfected a valid security interest in the air conditioners, and the transfer was not a preferential or fraudulent transfer under the Bankruptcy Act.
• Braunstein v. Mass. Bank & Tr. Co.
  443 F.2d 1281· 1st Cir.· 1971-06-15 ·cited 20×
  The court held that the bankruptcy schedules and an interim financial report were admissible to prove insolvency and that the jury's valuation of the transferred property was supported by the evidence.
• Grain Merchs. OF Ind., Inc. v. Union Bank & Sav. Co.
  408 F.2d 209· 7th Cir.· 1969-03-13 ·cited 20×
  A security interest in after-acquired accounts receivable, properly perfected under state law by filing financing statements, is not a preferential transfer under Section 60 of the Bankruptcy Act, even if the accounts arise within four months of bankruptcy, because the transfer i
• Va. Nat'l Bank (formerly known as Peoples Nat'l Bank of Charlottesville v. Woodson
  329 F.2d 836· 4th Cir.· 1964-03-31 ·cited 20×
  A payment to satisfy a bankrupt's antecedent debt by a third party who receives security from the bankrupt constitutes a voidable preference only to the extent the bankrupt's estate is diminished.
• Matter of Michael Morasco
  233 F.2d 11· 2d Cir.· 1956-05-07 ·cited 20×
  The court held that the late filing of conditional sales contracts constituted a preferential transfer under the Bankruptcy Act, and the vendors had reasonable cause to believe the debtor was insolvent at the time of filing.
• Middleton v. Plantation Homes, Inc.
  71 So. 2d 503· Fla.· 1954-03-09 ·cited 20×
  The Middletons purchased a home from Plantation Homes, Inc., but received title encumbered by underlying mortgages that Plantation had covenanted to release. They sought to hold the individual directors (Gerken and Clark) personally liable for the encumbrances. The Florida Suprem
• In re Bullion Reserve OF N. Am. v. Bozek
  836 F.2d 1214· 9th Cir.· 1988-01-11 ·cited 19×
  The court held that bullion transferred by a debtor to a customer shortly before bankruptcy, even if purchased with funds obtained fraudulently from customers, constitutes property of the debtor's estate for the purpose of a preferential transfer claim, and the transfer is not ex
• Emp'rs Mut. Cas. Co. v. George W. Hinshaw in Bankr. for Collins & Kiser Constr. Co.
  309 F.2d 806· 8th Cir.· 1962-11-16 ·cited 19×
  The court held that the District Court correctly determined the chattel mortgages constituted voidable preferences under Section 60 of the Bankruptcy Act, as the appellant had reasonable cause to believe the bankrupt was insolvent.
• In re Colonial Disc. Corp. v. Octopi, Inc.
  807 F.2d 594· 7th Cir.· 1986-12-05 ·cited 18×
  The court held that a debtor's insolvency at the time of a transfer is an objective question, and a creditor's unsupported testimony about a cash advancement can raise a genuine issue of material fact precluding summary judgment.
• In re George Rodman, Inc. v. Fort Worth Pipe Co.
  792 F.2d 125· 10th Cir.· 1986-05-29 ·cited 18×
  The court held that 11 U.S.C. § 547(c)(1) does not require a valuation of the property transferred to determine if it constitutes 'new value'.
• In re Iowa Premium Serv. Co., Inc. v. First Nat'l Bank in ST. Louis
  695 F.2d 1109· 8th Cir.· 1982-12-17 ·cited 18×
  The dissenting opinion holds that interest payments made more than 45 days after a promissory note's execution are avoidable preferences because the debt was incurred on the date the note was signed.