O'neil v. Orix Credit Alliance, Inc. (In re Northeastern Contracting Co.)

MEMORANDUM OF DECISION

ROBERT L. KRECHEVSKY, Bankruptcy Judge.

I

John J. O’Neil, Jr., Trustee of the Chapter 7 Estate of Northeastern Contracting Co. (the “Debtor”), on June 2, 1995, brought a complaint pursuant to 11 U.S.C. § 547(b)1 to set aside and recover as preferential two payments which the Debtor made to the defendant, Orix Credit Alliance, Inc. (“Orix”) on a debt guaranteed by defendants, Salvatore J. Marino, Sr. and Salvatore J. Marino, Jr., insiders of the Debtor. The complaint alleges the payments were made more than 90 days but less than one year before the bankruptcy petition date.…