Life is a Circular Thing: Eighth Circuit BAP Finds Creditors’ New Value Contributed By Other Creditors
Faced with a result that would compel a business debtor’s creditors to make a significant repayment to the debtor’s bankruptcy estate as a result of a preference claim, the Bankruptcy Appellate Panel for the Eighth Circuit (BAP) recently reversed a Minnesota bankruptcy court’s calculation of creditors’ “new value” credits. In Stoebner v. San Diego Gas […]