Legal Opinion
Jonas v. Farmer Bros. (In Re Comark)
United States Bankruptcy Court, C.D. California
Decided March 7, 1991No. Bankruptcy No. SA 82-03850JB, Adv. No. SA 85-1162JBPublishedCited by 12 opinions
1Opinion of the Court
MEMORANDUM OF DECISION
JAMES N. BARR, Bankruptcy Judge.
SUMMARY
On June 9, 1982, eighty-four days before Comark was drawn into this Chapter 7 bankruptcy case involuntarily, it wired defendant Farmer Brothers Company (FBC) the sum of $4,963,351.25. The bankruptcy trustee (the Trustee) charges that the payment was a preferential repayment of debt. 1 FBC contends it was a payment from its stockbroker, Comark, “settling” the sale of securities for FBC’s account, at FBC’s request but in accordance with oral agreements (“repurchase agreements” or “repos”) compelling Comark to do so. In that, FBC…
2Cases cited5 opinions
- Pennsylvania Department of Public Welfare v. DavenportSupreme Court of the United States · 1990
- Kaiser Steel Corporation v. Charles Schwab & Co., Inc.Court of Appeals for the First Circuit · 1990
- In The Matter Of Bevill, Bresler & Schulman Asset Management CorporationCourt of Appeals for the Third Circuit · 1990
- Matter of Bevill, Bresler & Schulman AssetDistrict Court, D. New Jersey · 1986
- In Re QuintanaCourt of Appeals for the Ninth Circuit · 1990
3Cited by12 opinions
- Kaiser Steel Corp v. Pearl Brewing Co.Court of Appeals for the Tenth Circuit · 1991
- In Re Comark, Debtor. Sam Jonas, Chapter 7 Trustee v. Resolution Trust Corporation, as Receiver for Greatamerican Federal Savings & Loan Assoc.Court of Appeals for the Ninth Circuit · 1992
- Jonas v. Farmer Bros. (In Re Comark)United States Bankruptcy Appellate Panel for the Ninth Circuit · 1992
- Mishkin v. Ensminger (In Re Adler, Coleman Clearing Corp.)United States Bankruptcy Court, S.D. New York · 1998
- Biggs v. Smith Barney, Inc. (In Re David)United States Bankruptcy Court, C.D. California · 1996
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