(7th Cir. June 10, 2016)
The Seventh Circuit reverses, holding the bankruptcy court applied too narrow of a baseline payment range to the creditor’s ordinary course defense in this preference action. While this court agreed that there were a few payments outside the ordinary course, the new value defense applied to completely offset those payments. Opinion below.
Attorneys for Appellant: Nixon Peabody LLP, Richard Scott Alsterda, Theodore Eric Harman
Attorneys for Appellee: Clark Hill PLC, Pamela Joy Leichtling, Scott N. Schreiber