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Posts tagged "creditor protection"

Preference Actions: Contemporaneous Exchange for New Value Defense

bankruptcy.jpgA preference action refers to a lawsuit brought under the U.S. Bankruptcy Code in which a creditor or bankruptcy trustee seeks to get pre-bankruptcy payments reversed. Under U.S. law, bankruptcy courts can automatically review all payments made by the filing business, to any party, within the last 90 days before the bankruptcy petition was filed. Courts have the authority to force individuals and companies that received inappropriate payments to compensate damaged creditors. In this post, our top-rated San Jose business bankruptcy attorneys discuss one of the common defenses that can be used to fight against preference lawsuits: contemporaneous exchange for new value.

  • Santa Clara County Bar Association | 1917
  • American Inns of Court
  • CWL | California Woman Lawyers
  • Bay Area Bankruptcy | Forun
  • The State Bar of California
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