NSC Creditor Trust v. BSI Alloys, Inc. (In re National Steel Co.)

MEMORANDUM OPINION

JACQUELINE P. COX, Bankruptcy Judge.

This Chapter 11 case is before the Court on an adversary proceeding brought by National Steel Creditor Trust to avoid, as preferences, pre-petition payments made by debtor National Steel Company to BSI Alloys, Inc.

The defendant answered the complaint and asserted two affirmative defenses to the claims: a new value defense under 11 U.S.C. § 547(c)(4) and an ordinary course defense under 11 U.S.C. § 547(c)(2). The Trust’s motion for partial summary judgment as to the second, third and fourth transfers followed. BSI has also filed a motion…