Legal Opinion

Instrumentation & Controls, Inc. v. Northeast Union, Inc. (In re Instrumentation & Controls, Inc.)

United States Bankruptcy Court, E.D. Pennsylvania

Decided March 18, 2014No. Bankruptcy No. 13-17059 ELF; Adversary No. 13-0563PublishedCited by 5 opinions

1Opinion of the Court

MEMORANDUM

ERIC L. FRANK, Chief Judge.

I

In this adversary proceeding, the Plaintiffs Instrumentation and Controls, Inc. and ICI Green, LLC (“the Plaintiffs”) seek to recover pre-petition payments totaling $31,950.00 as preferences pursuant to 11 U.S.C. §§ 547, 550.1 Defendant Northeast Union, Inc. (“the Defendant”) asserts the defense that the Plaintiffs’ payments constituted a contemporaneous exchange for new value. See 11 U.S.C. § 547(c)(1). The Defendant raises a species of this defense commonly referred to as the “indirect transfer” theory.

Presently before the court is the Plaintiffs’…

2Cases cited12 opinions

In Re Chase & Sanborn Corporation, Debtor. Paul C. Nordberg, Creditor Trustee v. Arab Banking CorporationCourt of Appeals for the Eleventh Circuit · 1990
Allstate Property & Casualty Insurance v. SquiresCourt of Appeals for the Third Circuit · 2012
In Re Jet Florida Systems, Inc., F/k/a Air Florida Systems, Inc., Debtor. Jet Florida, Inc. v. American Airlines, Inc.Court of Appeals for the Eleventh Circuit · 1988
Aero-Fastener, Inc. v. Sierracin Corp. (In Re Aero-Fastener, Inc.)United States Bankruptcy Court, D. Massachusetts · 1994
Daniel Sherzer v. Homestar Mortgage ServicesCourt of Appeals for the Third Circuit · 2013

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3Cited by5 opinions

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Spero v. Community Chevrolet, Inc. (In re Grooms)United States Bankruptcy Court, W.D. Pennsylvania · 2017
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