Riccio v. General Motors Acceptance Corp.

The plaintiff, as trustee of the bankrupt estate of Jamare Sewing Machine Company, Inc., hereinafter referred to as Jamare, which had on February 7, 1961, filed a petition in bankruptcy and was adjudicated a bankrupt, brings this action under § 60 of the Bankruptcy Act (30 Stat. 562, as amended, 11 U.S.C. § 96) to recover because of an alleged preferential transfer suffered or made by the bankrupt on February 3, 1961, within four months before the filing of the petition and when the bankrupt was insolvent, the effect of which was to enable the defendant to obtain a greater percentage of its…