Legal Question in Bankruptcy in California
Chapter 7 Recovery of money from vendor
Can sections 547 an 550 empower a debtor to recover payments during the 90 days period prior to filing chapter 11 otherwise deemed to be preferential payments?
Asked on 5/17/09, 6:27 pm
1 Answer from Attorneys
Michael McCulley
McCulley Law LLC
Re: Chapter 7 Recovery of money from vendor
Generally payments to creditors made within 90 days of filing bankruptcy are subject to disgorgement and recoverable by the trustee of the bankruptcy estate.
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Answered on 5/23/09, 1:10 pm
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