Legal Opinion
P.A. Bergner & Co. v. Bank One, Milwaukee, N.A. (In re P.A. Bergner & Co.)
Court of Appeals for the Seventh Circuit
Decided April 9, 1998No. Nos. 96-3879, 96-3937PublishedCited by 75 opinions
1Opinion of the Court
DIANE P. WOOD, Circuit Judge.
The proper treatment of standby letters of credit in bankruptcy proceedings is a subject of considerable complexity. In this case, P.A. Bergner & Company was the account party for standby letters of credit that Bank One Milwaukee, N.A. (“Bank One”) issued in favor of two beneficiaries. Shortly before Bergner declared bankruptcy, it made certain payments to Bank One to cover the bank’s own payments honoring the letters of credit. Bergner now wants to recover those payments, as either voidable preferences under section 547(b) of the Bankruptcy Code, or voidable…
2Cases cited14 opinions
- Bonded Financial Services, Inc., Debtor-Appellant v. European American BankCourt of Appeals for the Seventh Circuit · 1988
- Gillman v. Chase Manhattan Bank, N. A.New York Court of Appeals · 1988
- 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
- In the Matter of Compton Corp., Debtor. Walter Kellogg, Trustee v. Blue Quail Energy, Inc., and Mbank Abilene, N.A.Court of Appeals for the Fifth Circuit · 1988
- In the Matter of Joseph D. Smith, Doing Business as J.D. Management Services and G.L. Properties, Debtor. Appeal of David R. Boyer, TrusteeCourt of Appeals for the Seventh Circuit · 1992
9 more not listed; retrieve them via the Exa API.
3Cited by75 opinions
- Donell v. KowellCourt of Appeals for the Ninth Circuit · 2008
- Fleet National Bank v. GrayCourt of Appeals for the First Circuit · 2004
- First National Bank of Chicago, F/k/a Nbd Bank, Cross-Appellee v. Standard Bank & TrustCourt of Appeals for the First Circuit · 1999
- Helms v. Roti (In Re Roti)United States Bankruptcy Court, N.D. Illinois · 2002
- Argus Management Group v. Gab Robins, Inc. (In Re CVEO Corp.)United States Bankruptcy Court, D. Delaware · 2005
70 more not listed; retrieve them via the Exa API.