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Gulf Oil Corp. v. Banque De Paris Et Des Pays-Bas (In Re Fuel Oil Supply & Terminaling, Inc.)

District Court, S.D. Texas

Decided April 9, 1987No. Civ. A. H-85-4086PublishedCited by 13 opinions

1Opinion of the Court

MEMORANDUM ON APPEAL

HUGHES, District Judge.

Gulf Oil Corporation and Fuel Oil Supply and Terminaling, Inc., (Fosti) agreed to an exchange of gasoline. Product and monetary transfers made under the agreement from Fosti to Gulf were declared avoidable preferences by the bankruptcy court. Gulf appealed. This court finds that the exchange agreement established a bailment between Fosti and Gulf and concludes that the product transfers were not preferences. Gulf may keep a part of the monetary payments under the normal course of business rule.

Background.

Gulf and Fosti entered into a “loan or…

2Cases cited33 opinions

  1. In the Matter of Missionary Baptist Foundation of America, Inc., Debtors. Robert B. Wilson, Trustee v. Robert G. HuffmanCourt of Appeals for the Fifth Circuit · 1983
  2. 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
  3. In Re Iowa Premium Service Co., Inc., Debtor. Iowa Premium Service Co., Inc. v. First National Bank in St. Louis, St. Louis, MissouriCourt of Appeals for the First Circuit · 1982
  4. Thomas W. Garland, Inc. v. Union Electric Co. (In Re Thomas W. Garland, Inc.)United States Bankruptcy Court, E.D. Missouri · 1982
  5. Henderson v. Buchanan (In Re Western World Funding, Inc.)United States Bankruptcy Court, D. Nevada · 1985

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3Cited by13 opinions

  1. In Re Energy Cooperative, Inc., Debtor. Energy Cooperative, Inc., Jay A. Steinberg, Trustee v. Socap International, Ltd.Court of Appeals for the Seventh Circuit · 1987
  2. In the Matter of Energy Cooperative, Inc., Debtor. Appeals of Koch Refining Co., Koch Fuels, Inc., Wood River Oil & Refining Co., Conoco Inc., Mobil Oil Corporation, Chevron U.S.A. Inc., Gulf Oil Corporation, Socap International, Ltd., U.S.A. Rookwood, Inc., Kerr-Mcgee Refining Corp., Triangle Refineries, Peerless Distributing, Valero Refining F/k/a Saber Refining, Union Oil Company of Calif., Tenneco Oil Company, Oils, Inc., Bell Fuels, Inc., Moore McCormack Enron Oil Trading & Transportation Company, and Societe Nationale Pour La Recherche, La Production, Le Transport, La Transformation Commercialisation Des Hydrocarbures ("Sonatrach"), 1Court of Appeals for the Seventh Circuit · 1989
  3. In The Matter Of Fuel Oil Supply & Terminaling, Inc.Court of Appeals for the Fifth Circuit · 1988
  4. Cimmaron Oil Co., Inc. v. Cameron Consultants, Inc.District Court, N.D. Texas · 1987
  5. Perlstein v. Rockwood Insurance (In Re AOV Industries, Inc.)District Court, District of Columbia · 1988

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