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Legal Opinion

Schlant v. Schueler (In Re Buffalo Auto Glass)

United States Bankruptcy Court, W.D. New York

Decided September 18, 1995No. 1-19-10174PublishedCited by 8 opinions

1Opinion of the Court

MICHAEL J. KAPLAN, Chief Judge.

These reciprocal motions for summary judgment raise the issue of whether a principal of a corporation who is an owner, officer, director and employee of that corporation who elected to forgo her usual pay in favor of repayments of loans she had extended to the corporation, must disgorge such repayments as voidable preferences under 11 U.S.C. § 547, when the corporation subsequently becomes a debtor under the Bankruptcy Code.

The Court rules that the payments satisfy the elements of a preference outlined in § 547(b), and that although the Defendant might enjoy a…

2Cases cited14 opinions

  1. Barnhill v. JohnsonSupreme Court of the United States · 1992
  2. Matter of DuffyUnited States Bankruptcy Court, S.D. New York · 1980
  3. In Re Air Conditioning, Inc. Of Stuart, Debtor. American Bank of Martin County, Douglass E. Wendel, Trustee v. Leasing Service CorporationCourt of Appeals for the Eleventh Circuit · 1988
  4. In Re Jet Florida Systems, Inc., F/k/a Air Florida Systems, Inc., Debtor. Jet Florida, Inc. v. American Airlines, Inc.Court of Appeals for the Eleventh Circuit · 1988
  5. Murray Drabkin, Trustee v. A.I. Credit Corporation, (Two Cases)Court of Appeals for the D.C. Circuit · 1986

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3Cited by8 opinions

  1. In Re Roblin Industries, Inc., Debtor. William E. Lawson, Trustee, in Bankruptcy of Roblin Industries, Inc. v. Ford Motor CompanyCourt of Appeals for the Second Circuit · 1996
  2. Official Committee of Unsecured Creditors of SGK Ventures, LLC v. NewKey Group, LLC (In re SGK Ventures, LLC)United States Bankruptcy Court, N.D. Illinois · 2014
  3. Official Committee of Unsecured Creditors of Maxwell Newspapers, Inc. v. Travelers Indemnity Co. (In Re Maxwell Newspapers, Inc.)United States Bankruptcy Court, S.D. New York · 1996
  4. Kittay v. Flutie New York Corp. (In Re Flutie New York Corp.)United States Bankruptcy Court, S.D. New York · 2004
  5. Freeland v. Enodis Corp. (In Re Consolidated Industries Corp.)District Court, N.D. Indiana · 2002

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