US Bank National Assoc. v. SMF Energy Corp.
SMF appealed from a bankruptcy court order finding that three payments totaling $54,778.46 received by SMF from IBC in the 90-day preference period preceding IBC's chapter 11 filing were preferential payments under 11 U.S.C. 547(b) and were thus subject to avoidance by U.S. Bank in its capacity as trustee for the IBC Creditors Trust. The court affirmed the order and held that the bankruptcy court did not abuse its discretion by extending the time for service of process. View "US Bank National Assoc. v. SMF Energy Corp." on Justia Law