[Download] "In Re Montgomery" by United States Court Of Appeals For The Sixth Circuit * Book PDF Kindle ePub Free
eBook details
- Title: In Re Montgomery
- Author : United States Court Of Appeals For The Sixth Circuit
- Release Date : January 21, 1993
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 60 KB
Description
DAVID A. NELSON, Circuit Judge. The debtors in this complex bankruptcy case operated a massive check kiting scheme through which they obtained what amounted to unauthorized loans from a number of different banks. On March 21, 1988 -- a date within the 90-day preference period before the filing of bankruptcy petitions against the debtors -- the level of unauthorized loans at one of the banks, defendant Third National Bank in Nashville, reached a high point of more than $2 million. A month later that figure had been reduced to zero, the debtors having paid off the unauthorized loans at Third National with commingled funds generated partly through legitimate business activities and partly through the kiting of checks at other banks.
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