Legal Opinion
Committee of Unsecured Creditors of Interstate Cigar Co. v. Interstate Distribution, Inc.
New York Supreme Court
Decided June 21, 2000PublishedCited by 3 opinions
1Opinion of the Court
OPINION OF THE COURT
Geoffrey J. O’Connell, J.
The issue presented in this case is whether a sale of assets *775constitutes a bulk transfer subject to article 6 of the Uniform Commercial Code or is exempt under UCC 6-103 (3) as having been made in settlement of a lien or other security interest. In lieu of testimony the parties have stipulated to a trial upon an agreed statement of facts with supporting exhibits.
Facts
On March 7, 1990, Interstate Cigar Company (Cigar Company) and Interstate Distribution, Inc. (Distribution Corp.) entered into an asset purchase and sale agreement pursuant to which…
2Cases cited6 opinions
- Starman v. John Wolfe, Inc.Missouri Court of Appeals · 1973
- Hixson v. Pride of Texas Distributing Co.Court of Appeals of Texas · 1985
- American Metal Finishers, Inc. v. PalleschiAppellate Division of the Supreme Court of the State of New York · 1977
- Mid-America Industries, Inc. v. KetchieSupreme Court of Oklahoma · 1989
- Rockport Co. v. Wedgewood, Inc.Supreme Court of Iowa · 1989
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3Cited by3 opinions
- Cargo Partner AG v. Albatrans Inc.District Court, S.D. New York · 2002
- Committee of Unsecured Creditors of Interstate Cigar Co. v. Interstate Distribution, Inc.Appellate Division of the Supreme Court of the State of New York · 2002
- North Shore Cadillac-Oldsmobile, Inc. v. Tax Appeals TribunalAppellate Division of the Supreme Court of the State of New York · 2004