Death, Taxes & Preference Suits: At Least One May Be Escaped

There is an old saying that only two things in life are certain: death and taxes. When it comes to bankruptcy cases, there is another certainty: creditors who got paid within the 90 days prior to their customer’s bankruptcy filing will get sued for a preference. In other words – and this is the hard part for creditors to understand – a creditor who got paid just prior to a bankruptcy for goods or services it actually provided may have to return the money....
By: Arnall Golden Gregory LLP

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