United States Seventh Circuit

In a suit by a committee of unsecured creditors of a bankrupt company to recover payments to a software vendor, the district court's determination that the payments were preferential and should be returned to the bankruptcy estate for the benefit of the unsecured creditors is affirmed where the debtor did not receive new value in exchange for its payments to the vendor, therefore the payments were preferential.

Appellate Information

• Argued 10/19/2006
• Decided 04/09/2007
• Published 04/09/2007

Judges

• MANION, Circuit Judge., Before RIPPLE, MANION, and ROVNER, Circuit Judges.

Court

• United States Seventh Circuit

Counsel

• For Appellant:
  
• J. Andrew Moss, Reed Smith, Chicago, IL, Dimitri Karapelou (argued), Ciardi & Ciardi, Philadelphia, PA, for Appellant.


• For Appellees:
  
• Barry Levenstam (argued), Jenner & Block, Chicago, IL, for Appellee., Catherine Steege, Jenner & Block, Chicago, IL, for Debtor-Appellee.