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IN RE AMERICAN PLASTICS SERVICE, INC.

Bankruptcy No. 83-04830G, Adv. No. 85-0697G.

68 B.R. 27 (1986)

In re AMERICAN PLASTICS SERVICE, INC., Debtor. Fred ZIMMERMAN, Trustee, Plaintiff, v. Thomas P. MAHONEY and Marvin Greenberg and First Pennsylvania Bank, N.A., Defendants.

United States Bankruptcy Court, E.D. Pennsylvania.

December 8, 1986.

Attorney(s) appearing for the Case

Donald M. Collins, David C. Corujo, Stradley, Ronon, Stevens & Young, Philadelphia, Pa., for plaintiff/trustee, Fred Zimmerman.

James R. DiFrank, DiFrank, Della Porta & D'Amato, Philadelphia, Pa., for defendants, Thomas P. Maloney and Marvin Greenberg.

Michael R. Lastowski, Saul, Ewing, Remick & Saul, Philadelphia, Pa., for defendant, First Pennsylvania Bank, N.A.

OPINION

EMIL F. GOLDHABER, Chief Judge:

The issue at bench is whether the withdrawal of funds deposited by prospective purchasers of the debtor's assets into a bank account opened in the name of the debtor constituted a preferential transfer under 11 U.S.C. § 547(b) of the Bankruptcy Code ("the Code"). For the reasons set forth below, we conclude that the requisite elements of a preferential transfer under &...

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