The Third and Seventh Circuits agree on a concept that limits a debtor’s ability to recover accrued Social Security benefits that are set off before bankruptcy.
Eleventh Circuit abandons the notion that new value must remain unpaid to offset a preference.
The Supreme Court’s BFP opinion on mortgage foreclosures held not applicable to tax foreclosures in New York.
Payments made after threats and demands are not eligible for the ‘ordinary course’ preference defense.
Not a true public sale, a tax foreclosure in New Jersey can be attacked as a preference without implicating concerns about federalism.
A post-petition transfer occurs when an ordinary check is honored, not when it is delivered.