Chrysler Credit Corp. v. Hall
District Court, E.D. Virginia
1Opinion of the Court
MEMORANDUM OPINION
CACHERIS, District Judge.
This case consists of three consolidated appeals of the decisions by the bankruptcy court involving the insolvency of a number of motor vehicle dealerships. It arises out of an adversarial proceeding brought by the bankruptcy Trustee to avoid a series of transfers to Chrysler Credit Corporation as preferences under 11 U.S.C. § 547(b). These appeals present two questions: whether the bankruptcy court erred in holding that (1) the “subsequent new value defense,” 11 U.S.C. § 547(c)(4), to a preference action requires the “new value” to remain unpaid;…
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