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Expert Analysis

8th Circ. Expands New-Value Defense In Preference Actions

Law360, New York (March 27, 2014, 1:24 PM EDT) -- In Stoebner v. San Diego Gas & Electric Co. (In re LGI Energy Solutions Inc.), No. 12-3899, Slip Op. (8th Cir. Mar. 20, 2014), the Eighth Circuit held that preference defendants may offset their avoidance liability with subsequent new value provided by third parties. In so doing, the court expanded the subsequent new-value defense found in Section 547(c)(4) of the Bankruptcy Code....

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