Legal Opinion
OEM Industrial Corp. v. Birmingham Square (In re OEM Industrial Corp.)
District Court, W.D. Pennsylvania
Decided December 23, 1992No. Bankruptcy No. 90-03906 JKF; Adv. No. 91-0148PublishedCited by 1 opinion
1Opinion of the Court
MEMORANDUM OPINION
JUDITH K. FITZGERALD, Bankruptcy Judge.
The matter before the court is an. avoidance action by which OEM Industrial Corp. (“OEM”), formerly acting as debtor-in-possession,1 seeks to avoid as a preferential transfer Birmingham Square’s execution lien2 on a judgment it held against OEM. We hold that Birmingham Square’s lien is an avoidable preference.
I. Background
On Feb. 15,1985, OEM, as lessee, executed a lease agreement with Birmingham Square. On or about October 6,1988, after OEM’s default under the lease, Birmingham Square confessed judgment against OEM for $106,094.40 and…
2Cases cited17 opinions
- Hardin v. Manitowoc-Forsythe Corp.Court of Appeals for the Tenth Circuit · 1982
- Wjm, Inc., Etc. v. Massachusetts Department of Public WelfareCourt of Appeals for the First Circuit · 1988
- In the Matter of Emerald Oil Co., Debtor. William C. Sandoz, Trustee, Cross-Appellant v. Fred Wilson Drilling Company, Cross-AppelleeCourt of Appeals for the Fifth Circuit · 1983
- James C. Ellis and Wanda Lou Ellis, His Wife v. Arkansas Louisiana Gas CompanyCourt of Appeals for the Tenth Circuit · 1979
- Pan Eastern Exploration Co. v. Hufo OilsCourt of Appeals for the Fifth Circuit · 1988
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3Cited by1 opinion
- Trans World Airlines, Inc. v. Travellers International AG. (In Re Trans World Airlines, Inc.)United States Bankruptcy Court, D. Delaware · 1994