Transfer Occurs When Property Is Placed in Escrow or In Custodia Legis
When disbursement depends on subsequent court approval, the transfer still occurs beforehand when the deposit was made in custodia legis.
Court:
The Wrath of Stern
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Judicial Round-and-Round: Part II
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Average Lateness and Bucketing Tests Confirm the Ordinary Course Defense
A district judge in Brooklyn applied the two most commonly used tests for the ‘ordinary course’ defense to uphold dismissal of preference complaints.