Scott A. Wolfson was quoted in Crain’s Detroit Business regarding potential defenses of vendors to the over $50 million of claims brought by the City of Detroit alleging that the vendors received preferential transfers under the Bankruptcy Code.
Wolfson explained the “ordinary course of business” defense to a preference claim, and further noted that each vendor’s defense will likely vary based upon the timing and circumstances under which the vendor received payments in the 90 days preceding the City’s bankruptcy filing. Read article here.