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Legal Opinion

Lids Corp. v. Marathon Investment Partners, L.P. (In Re Lids Corp.)

United States Bankruptcy Court, D. Delaware

Decided August 6, 2002No. 19-10367PublishedCited by 23 opinions

1Opinion of the Court

OPINION 1

MARY F. WALRATH, Bankruptcy Judge.

This matter is before the Court on the Complaint of Lids Corporation (“Lids”) to avoid a security interest granted to Marathon Investment Partners, L.P. (“Marathon”) pursuant to sections 547 and 550 of the Bankruptcy Code. At trial, Marathon asserted that the security interest is not avoidable as a preference because Lids was not insolvent at the time. For the reasons set forth below, we find that Lids was insolvent at all relevant times, and, therefore, we conclude that the security interest is avoidable.

1. FACTUAL BACKGROUND

Lids, founded in 1992,…

2Cases cited8 opinions

  1. Charles E. Covey, as Trustee of v. Jobst & Sons, Inc., Cross-Appellant v. Commercial National Bank of Peoria, Cross-AppelleesCourt of Appeals for the Seventh Circuit · 1992
  2. Sierra Steel, Inc. v. Totten Tubes, Inc. (In Re Sierra Steel, Inc.)United States Bankruptcy Appellate Panel for the Ninth Circuit · 1989
  3. In Re Trans World Airlines, IncorporatedCourt of Appeals for the Third Circuit · 1998
  4. Joshua Slocum, Ltd. v. Boyle (In Re Joshua Slocum, Ltd.)United States Bankruptcy Court, E.D. Pennsylvania · 1989
  5. Moore Operation, Inc. v. Goodway Graphics of Virginia, Inc. (In Re Lease-A-Fleet, Inc.)United States Bankruptcy Court, E.D. Pennsylvania · 1993

3 more not listed; retrieve them via the Exa API.

3Cited by23 opinions

  1. Onkyo Europe Electronics GMBH v. Global Technovations Inc. (In Re Global Technovations Inc.)Court of Appeals for the Sixth Circuit · 2012
  2. Faulkner v. Kornman (In Re Heritage Organization, L.L.C.)United States Bankruptcy Court, N.D. Texas · 2009
  3. Statutory Committee of Unsecured Creditors Ex Rel. Iridium Operating LLC v. Motorola, Inc. (In Re Iridium Operating LLC)United States Bankruptcy Court, S.D. New York · 2007
  4. Quadrant Structured Products Company, Ltd. v. VertinCourt of Chancery of Delaware · 2015
  5. Shubert v. Lucent Technologies Inc. (In Re Winstar Communications, Inc.)United States Bankruptcy Court, D. Delaware · 2005

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