I'm dealing with a situaiton at work where one of our customers (who went bankrupt) paid us money for services rendered but now several years later Trustees, etc. are claiming it was a "preferential transfer" because the payment happened in that 90-day period prior to filing bankruptcy.

1) Where can I find a good definition of what exactly constitues "preferential transfers" and what does not?

2) For anyone interested in venturing an opinion (which I will not hold you accountable for), we are in the convention business and this customer paid us for our convention hosting services. One payment was an advanced deposit for a convention which did happen. Another payment was after a different convention which also happened, but the payment came after the convention. Both conventions happened prior to their fiiling bankruptcy. Does that affect anything? Do I have a good argument?

Tim

Jesus Christ...I thought MVP was giving out legal advice

btw.

A group of terrorists hijacked a plane full of lawyers. They called down to ground control with their list of demands and added that if their demands weren't met, they would release one lawyer every hour.