Stoebner v. San Diego Gas & Electric Co., No. 12-6043 (8th Cir. 2012)
Annotate this CaseIn consolidated appeals, defendants appealed the bankruptcy court's judgments against them under 11 U.S.C. 547(b) for payments they received from debtors in the 90 days prior to the bankruptcy petition date. The Bankruptcy Appellate Panel (BAP) affirmed the bankruptcy court's decision with regard to its determination that the payments defendants received from debtors were voidable under section 547(b), but the BAP reversed on the bankruptcy court's calculation of defendants new value credits.
Court Description: Bankruptcy Appellate Panel. Bankruptcy Court did not err in finding that payments defendants received from the debtors in the 90 days prior to the bankruptcy petition were preferential and avoidable under 11 U.S.C. Sec. 547(b); however, the matter must be remanded for further proceedings regarding the amount of "new value" credits defendants should receive. [ November 13, 2012
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