Preferential Transfers
Presented by Hon. Daniel P. Collins
The purpose of avoiding preferential transfers is explained, focusing on equitable treatment of creditors and creditor protection during bankruptcy proceedings.
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Preferential Transfers
Judge Daniel Collins, a bankruptcy judge with 11 years of experience, discussed preferential transfers and transfer avoidance in a master class. He explained that preferential transfers are transfers made to creditors that enable them to receive more than they would in a Chapter 7 bankruptcy, and these transfers can be avoided to ensure equitable treatment of creditors. The five elements of a prima facie preference case are: the transfer must benefit a creditor, be for an antecedent debt, made while the debtor was solvent, within 90 days of bankruptcy (or one year for insiders), and enable the creditor to receive more than in a Chapter 7 bankruptcy. Defenses to preference actions include contemporaneous exchanges, ordinary course of business, purchase money security interests, subsequent new value, and net improvement of position on floating liens.
Duration:
21 minutes 25 seconds
Bio :
Hon. Daniel P. Collins is a U.S. Bankruptcy Judge for the District of Arizona in Phoenix, appointed on Jan. 18, 2013. He served as chief judge from 2014-18 and is presently a conflicts judge in the Districts of Guam, Hawaii and Southern California. Previously, Judge Collins was a shareholder with the Collins, May, Potenza, Baran & Gillespie, P.C. in Phoenix, practicing primarily in the areas of bankruptcy, commercial litigation and commercial transactions. He is president of the National Conference of Bankruptcy Judges, is a Fellow in the American College of Bankruptcy, served on ABI’s Board of Directors, is on the board of the Phoenix Chapter of the Federal Bar Association and is a member of the University of Arizona Law School’s Board of Visitors. He also is a founding member of the Arizona Bankruptcy American Inn of Court. Judge Collins received both his B.S. in finance and accounting in 1980 and his J.D. in 1983 from the University of Arizona.
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