Legal Opinion
Union Bank v. Wolas
Supreme Court of the United States
Decided December 11, 1991No. 90-1491PublishedCited by 426 opinions
1Opinion of the CourtJustice Stevens
Section 547(b) of the Bankruptcy Code, 11 U. S. C. § 547(b), authorizes a trustee to avoid certain property transfers made by a debtor within 90 days before bankruptcy. The Code makes an exception, however, for transfers made in the ordinary course of business, § 547(c)(2). The question presented is whether payments on long-term debt may qualify for that exception.
On December 17,1986, ZZZZ Best Co., Inc. (Debtor), borrowed $7 million from petitioner, Union Bank (Bank).1 On *153July 8, 1987, the Debtor filed a voluntary petition under Chapter 7 of the Bankruptcy Code. During the preceding 90-day…
2Cases cited7 opinions
- United States v. Ron Pair Enterprises, Inc.Supreme Court of the United States · 1989
- Toibb v. RadloffSupreme Court of the United States · 1991
- In Re Iowa Premium Service Co., Inc., Debtor. Iowa Premium Service Co., Inc. v. First National Bank in St. Louis, St. Louis, MissouriCourt of Appeals for the First Circuit · 1982
- In Re Marlene M. Finn, Debtor. Daniel F. Gosch, Trustee of the Estate of Marlene M. Finn v. Donald M. BurnsCourt of Appeals for the Sixth Circuit · 1990
- In the Matter of Chg International, Inc., Debtor. Chg International, Inc. v. Barclays BankCourt of Appeals for the Ninth Circuit · 1990
2 more not listed; retrieve them via the Exa API.
3Cited by426 opinions
- Hartford Underwriters Insurance v. Union Planters Bank, N. A.Supreme Court of the United States · 2000
- Patterson v. ShumateSupreme Court of the United States · 1992
- Barnhill v. JohnsonSupreme Court of the United States · 1992
- PDK Laboratories Inc. v. United States Drug Enforcement AdministrationCourt of Appeals for the D.C. Circuit · 2004
- Encino Motorcars, LLC v. NavarroSupreme Court of the United States · 2018
421 more not listed; retrieve them via the Exa API.