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The Use Of Ohio's Preference Law In Bankruptcy: An Alternative To Section 547 With A Longer "Reach-Back" Period, Thomas D. Buckley
The Use Of Ohio's Preference Law In Bankruptcy: An Alternative To Section 547 With A Longer "Reach-Back" Period, Thomas D. Buckley
Law Faculty Articles and Essays
Ohio is one of the few states with a preference law of general application among its debtor-creditor statutes. Ohio Revised Code sections 1313.56 and 1313.57 give creditors an avoidance power similar to a bankruptcy trustee's avoidance power under federal bankruptcy law. While this article compares the federal and state preference rules, evaluating the pratical significance of the differences between them, the relative strength of the two laws is less important than the fact that the bankruptcy trustee can choose whichever of the two laws is more effective with respect to any given prebankruptcy transaction. Thus, both laws might be applied …
Insider Guaranties: Their Effect On The Bankruptcy Preference "Reach Back" Period And Possible Use In Getting An "Ordinary Course" Exception Avoidance, Thomas D. Buckley
Insider Guaranties: Their Effect On The Bankruptcy Preference "Reach Back" Period And Possible Use In Getting An "Ordinary Course" Exception Avoidance, Thomas D. Buckley
Law Faculty Articles and Essays
In 1990 the Sixth Circuit decided two bankrupcty preference cases, Ray v. City Bank & Trust Co. (In re C-L Cartage Co.) ("Cartage") and Gosch v. Burns (In re Finn) ("Finn"), that will have important consequences in the administration of bankruptcy proceedings and will also influence the way lenders and borrowers do business with each other in the future, whether or not a bankruptcy ever ensues. This article first describes briefly the mechanics of preference law and the application of it in Cartage and Finn. The article then focuses primarily on the Cartage decision, because the analytic approach taken by …