US Bank National Assoc. v. SMF Energy Corp., No. 11-6005 (8th Cir. 2011)
Annotate this CaseSMF appealed from a bankruptcy court order finding that three payments totaling $54,778.46 received by SMF from IBC in the 90-day preference period preceding IBC's chapter 11 filing were preferential payments under 11 U.S.C. 547(b) and were thus subject to avoidance by U.S. Bank in its capacity as trustee for the IBC Creditors Trust. The court affirmed the order and held that the bankruptcy court did not abuse its discretion by extending the time for service of process.
Court Description: Bankruptcy Appellate Panel. Bankruptcy court did not err in finding three payments creditor received in the 90-day preference period preceding debtor's chapter 11 filing were preferential payments under 11 U.S.C. Sec. 547(b) and thus subject to avoidance by the trustee; bankruptcy court did not abuse its discretion by extending the time for service of process, as Rule 9006 provided the court with such authority; statute of limitations argument rejected.
Some case metadata and case summaries were written with the help of AI, which can produce inaccuracies. You should read the full case before relying on it for legal research purposes.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.