Isn't this about the same thing that went on with all the people who sold corn to Vera Sun (the big ethanol producer) who went bankrupt?
As was stated above, this is to avoid people getting preferential treatment by a company that is on the way out...something like hiring the son-in-law as a consultant for a huge fee right before the bankruptcy hits.
I think there is a way around it...have to prove the transaction was in the course of "normal business" or something to that effect.
With that much $$$ involved, I think talking to an attorney familiar with bankruptcy proceedings would definitely be worth the money.
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Today's Featured Article - New Life for an Old Allis - by Tyler Woods. My friend Jon, has an old '39 Allis Chalmers B. He thought it a marginal tractor that had long since served its time. She smoked terribly and never had much power but he couldn't afford another so he was limping along with what he had. Jon's Allis has a small front loader and though it doesn't carry much, it serves his needs. It was the hard starting and low power that made him think it was time to replace the old girl. Jon called me to help him discover why his tractor wouldn't start
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