Concast Canada, Inc. v. Laclede Steel Co. (In Re Laclede Steel Co.)
United States Bankruptcy Appellate Panel for the Eighth Circuit
1Opinion of the Court
SCOTT, Bankruptcy Judge.
Laclede Steel Co. and Concast Canada, Inc. had been engaged in business for many years. The formal terms of their dealings required that Laclede pay its obligations to Concast thirty days after invoicing. In the ordinary course of their dealings, however, they did not adhere to these requirements. Rather, the average time it took Laclede to pay its obligations to Con-cast, prior to the 90 day preference period, was 52 days, although at least one payment had been as late as 70 days past invoicing.
When Laclede met with financial difficulty, Concast did not exert any…
2Cases cited13 opinions
- Hartford Underwriters Insurance v. Union Planters Bank, N. A.Supreme Court of the United States · 2000
- In Re Molded Acoustical Products, Inc., Debtor. Fiber Lite Corporation v. Molded Acoustical Products, Inc.Court of Appeals for the Third Circuit · 1994
- Thomas G. Lovett, Jr., Trustee for Transportation Systems International, Inc. v. St. Johnsbury TruckingCourt of Appeals for the Eighth Circuit · 1991
- In Re U.S.A. Inns of Eureka Springs, Arkansas, Inc., Debtor. Claude R. Jones v. United Savings and Loan AssociationCourt of Appeals for the Eighth Circuit · 1993
- Hassett v. Altai, Inc. (In Re CIS Corp.)United States Bankruptcy Court, S.D. New York · 1997
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