In the Matter of Commodity Merchants, Inc., Bankrupt. Harper C. Allan, as Trustee in Bankruptcy v. Archer-Daniels-Midland Co.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• stating that if the terminated contracts had been assignable, perhaps the cancellation of them would have been an avoidable transfer
• “The bankruptcy trustee no longer seriously argues that the contracts were executory . . The purchase contract had already been breached by CMI.”
• commodities trading agreements cancelled as a result of debt- or’s inability to fulfill its obligations because of its financial difficulties
• \The essence of a transfer is the relinquishment of a valuable property right.\
• Commodities futures contracts between the parties were cancelled pursuant to a contractual provision prior to the filing of a petition in bankruptcy and thus were not capable of being assumed by the Trustee under Section 70(b) of the former Bankruptcy Act
• Section 70(b) of the Act

Source: CourtListener parenthetical corpus (CC0).