Legal Opinion
In the Matter of Erie Forge & Steel Corporation, Bankrupt. Appeal of Thomas O. Schrader
Court of Appeals for the Third Circuit
Decided March 22, 1972No. 71-1279PublishedCited by 14 opinions
1Opinion of the Court
OPINION OF THE COURT
ADAMS, Circuit Judge.
This bankruptcy case presents a novel question regarding voidable preferences. Where a bank, prior to any bankruptcy proceedings, offsets a note in default against the debtor’s checking balance in the bank, thus satisfying the note in full, and then, after the initiation of the bankruptcy proceedings, in accordance with its prior agreement with a second bank, purchases an interest in a note from the debtor held by the second bank, has a voidable preference been created to the extent of the payment to the second bank ? 1 In order to illuminate clearly…
2Cases cited8 opinions
- New York County National Bank v. MasseySupreme Court of the United States · 1904
- Continental & Commercial Trust & Savings Bank v. Chicago Title & Trust Co.Supreme Court of the United States · 1913
- Western Tie & Timber Co. v. BrownSupreme Court of the United States · 1905
- Mayo v. Pioneer Bank & Trust Co.Court of Appeals for the Fifth Circuit · 1959
- Prudential Trust Co.'s AssignmentSupreme Court of Pennsylvania · 1909
3 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Alan B. Miller, Trustee in Bankruptcy of American Ibc Corp., Bankrupt v. Wells Fargo Bank International Corp.Court of Appeals for the Second Circuit · 1976
- Miller v. Wells Fargo Bank International Corp.District Court, S.D. New York · 1975
- United States v. Thomas Henry Mowry MikeCourt of Appeals for the Third Circuit · 1994
- Young v. Scandore Paper Box Corp. (In Re Lucasa International, Ltd.)United States Bankruptcy Court, S.D. New York · 1981
- Genova v. Rivera Funeral Home (In Re Castillo)United States Bankruptcy Court, D. Colorado · 1984
9 more not listed; retrieve them via the Exa API.