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In Re Energy Cooperative, Inc., Debtor. Energy Cooperative, Inc., Jay A. Steinberg, Trustee v. Socap International, Ltd.

Court of Appeals for the Seventh Circuit

Decided October 29, 1987No. 86-2980PublishedCited by 119 opinions

1Opinion of the Court

MANION, Circuit Judge.

The district court granted summary-judgment for defendant, SOCAP International, Ltd., in an adversary proceeding in which Jay A. Steinberg, bankruptcy trustee for the estate of the debtor, Energy Cooperative, Inc. (ECI), sought to recover a $1.6 million payment from ECI to SOCAP as an avoidable preference under 11 U.S.C. § 547(b). The trustee appeals that ruling. Because we find that ECI’s payment to SOCAP was for an antecedent debt, and because the payment does not fall into the exceptions to the avoidable preference provision that SOCAP urges on appeal, we reverse the…

2Cases cited14 opinions

  1. Kelly v. RobinsonSupreme Court of the United States · 1986
  2. Barash v. Public Finance Corp.Court of Appeals for the Seventh Circuit · 1981
  3. In Re Lawrence N. Jolly, Debtor. Chattanooga Memorial Park v. C. Kenneth Still, Chapter Xiii TrusteeCourt of Appeals for the Sixth Circuit · 1978
  4. 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
  5. 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

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3Cited by119 opinions

  1. In Re Chase & Sanborn Corporation, Debtor. Paul C. Nordberg, Creditor Trustee v. Arab Banking CorporationCourt of Appeals for the Eleventh Circuit · 1990
  2. In the Matter of Southmark Corporation, Debtor. Southmark Corporation v. Schulte Roth & ZabelCourt of Appeals for the Fifth Circuit · 1996
  3. In Re Fulghum Construction Corp., Debtor. Robert H. Waldschmidt, Trustee v. Harry H. Ranier, Algin Nolan, and Ranier & AssociatesCourt of Appeals for the Sixth Circuit · 1989
  4. William R. Glass v. Alfred H. Dachel and County of ChippewaCourt of Appeals for the Seventh Circuit · 1993
  5. United States Trustee v. First Jersey Securities, Inc.Court of Appeals for the Third Circuit · 1999

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