Archive for the ‘Preference’ Category

What Is a Preference?

2 February 2012 by Kelly G. Black  |  Preference  |  No Comments

In bankruptcy, all creditors are treated alike. If a creditor receives more than a pro rata share within 90 days before bankruptcy, the payment could be a preference, which can be recovered. Payments to insiders can be recovered as preferences if made within one year before the bankrutpcy. The same rule applies with payment is made voluntarily, involuntarily, or even eagerly. Call for a free consultation at (480) 719-1152.

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Before You File, Evaluate Preferences

2 February 2012 by Kelly G. Black  |  Preference  |  No Comments

Small business owners considering a Chapter 11 bankruptcy filing should request an analysis of potential preference claims. These are potentially a double-edged sword: they may provided a needed source of funds, but the owners themselves may end up as the defendants. If you are considering requesting Chapter 11 bankruptcy protection, you should consult with an attorney familiar with Chapter 11 bankruptcies to discuss your options. For a free consultation, call (480) 719-1152.

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Getting MF Global’s Money Back

1 February 2012 by Kelly G. Black  |  Fraudulent Transfer, News, Preference  |  No Comments

MF Global may recover some assets under preference, fraudulent transfer, or state law theories. However, at least some innocent clients and payees will end up losing.

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