The following 7th Circuit Court of Appeals opinions were posted after IL deadline Friday:
In Re: OneStar Long Distance, Inc., Elliott D. Levin v. Verizon Business Global, LLC
Appeals from the United States District Court for the Southern District of Indiana, Evansville Division. Judge Richard L. Young.
Civil. Affirms the district court’s affirmation of the bankruptcy judge’s ruling that the new value, or additional telecommunications services, that MCI advanced during its preference period sufficed to make OneStar’s preferential payments unavoidable, so the debt assignment to a newly formed affiliate was irrelevant. Finds a debtor’s assignment of debt and contractual rights to an affiliate doesn’t have the effect of repaying a creditor for new value. Also finds MCI advanced subsequent new value that remained unpaid, so OneStar’s preferential transfers are unavoidable.