I know about the 'claw-back' rule. I worked for a company that went chapter 7 in 1982. The money remaining and assets were to be distributed equally amongst various vendors/creditors (I think to the tune of about 20 cents on the dollar. One Creditor didn't like the deal and objected. They proceeded to p*$$ away almost all of the pot trying to get vendors to repay what they had received 90 days prior to the filing. I'm didn't work. But lawyers got most of it.
The thing is that the court found that the company didn't favor anyone in his they paid people. Everyone was getting a little bit when possible. Nobody did anything wrong. Just a bad business climate.
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Today's Featured Article - Seeing an Old Friend - by Joe Evans. Dad had a concrete contracting business starting in 1960. One of his first pieces of equipment was a Ferguson TO-35 with a Davis loader. Dad replaced the TO-35 with a MF 202 Workbull, essentially an industrialized Ferguson 35 I am told. Dad bought the 202 new in 1962, and I recall quite clearly going to the dealer with him to sign for it.
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