Legal Opinion
Erman v. Armco, Inc. (In Re Formed Tubes, Inc.)
United States Bankruptcy Court, E.D. Michigan
Decided February 25, 1985No. 19-40770PublishedCited by 29 opinions
1Opinion of the Court
OPINION
GEORGE BRODY, Bankruptcy Judge.
The question presented is whether a defendant in a preference action may rely on the new value defense of section 547(c)(4) if the defendant is paid for the new value, but not by the debtor. 11 U.S.C. § 547(c)(4) (1982).
Formed Tubes, Inc. (debtor) manufactured and sold tubing for industrial purposes. Armco, Inc. was a regular supplier of steel to Formed Tubes. To insure pay ment for all the steel to be delivered to Formed Tubes, Armco insisted that Formed Tubes have a bank issue irrevocable letters of credit, with Armco as the beneficiary. 1 Michigan…
2Cases cited7 opinions
- Pettigrew v. Trust Co. Bank (In Re Bishop)United States Bankruptcy Court, N.D. Georgia · 1982
- Rovzar v. Prime Leather Finishes Co. (In Re Saco Local Development Corp.)United States Bankruptcy Court, D. Maine · 1983
- Gropper v. Samuel Kunstler Textiles, Inc. (In Re Fabric Buys of Jericho, Inc.)United States Bankruptcy Court, S.D. New York · 1982
- Valley Candle Mfg. Co. v. Stonitsch (In re ISIS Foods, Inc.)District Court, W.D. Missouri · 1984
- Columbia Packing Co. v. Allied Container Corp. (In Re Columbia Packing Co.)United States Bankruptcy Court, D. Massachusetts · 1984
2 more not listed; retrieve them via the Exa API.
3Cited by29 opinions
- In re PrescottCourt of Appeals for the Seventh Circuit · 1986
- Bankr. L. Rep. P 71,497 in the Matter of John B. Prescott and Janet L. Prescott, Debtors. Appeals of Marine Bank Dane County, Gateway Foods, Inc. & Jerry J. Armstrong, TrusteeCourt of Appeals for the Seventh Circuit · 1986
- Wolinsky v. Central Vermont Teachers Credit Union (In Re Ford)United States Bankruptcy Court, D. Vermont · 1989
- Boyd v. Water Doctor (In Re Check Reporting Services, Inc.)United States Bankruptcy Court, W.D. Michigan · 1992
- Braniff, Inc. v. Sundstrand Data Control, Inc. (In Re Braniff, Inc.)United States Bankruptcy Court, M.D. Florida · 1993
24 more not listed; retrieve them via the Exa API.