Louis W. Levit, Trustee of V.N. Deprizio Construction Co. v. Ingersoll Rand Financial Corporation

How courts have described this case

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

• noting that a single payment is one “transfer,” regardless of the number of persons who gain by that transfer
• holding that corporate insiders were not “creditors” subject to a preference claim when the corporation paid the Internal Revenue Service for delinquent wage withholding taxes, despite the benefit that they received by being relieved of personal liability for the taxes
• arguing that by providing in Sec. 550 for recovery from either the transferee or the beneficiary, Congress effected such a \wholesale change[ ]\ in the law that pre-Code practice is unhelpful in interpreting Secs. 547 and 550
• tax payments and pension plan payments not recoverable where no insider was liable with debtor on antecedent debt
• “It must [] be recognized that the exercise of [] equitable principles ... ‘cannot contravene specific provisions of the Bankruptcy Code.’ ”
• lenders will force bankruptcies at the slightest hint of trouble in order to prevent erosion of their positions

Source: CourtListener parenthetical corpus (CC0).