Check the date a security transfer is made for a preference
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- The tool lists the date the transfer took effect, the perfection date, the date the debtor received possession, and the 90-day and one-year periods before the petition. It calculates the 30-day dates from the facts the lawyer supplies. It does not declare the transfer avoided.
- What the lawyer must review
- 11 U.S.C. § 547 and UCC Section 9-317(e). Except as subsections (c) and (i) provide, section 547(b) lets the trustee avoid a transfer of an interest of the debtor in property to or for the benefit of a creditor, for or on account of an antecedent debt, made while the debtor was insolvent, made on or within 90 days before the petition or between 90 days and one year before the petition if the creditor was then an insider, that enables the creditor to receive more than in a chapter 7 case had the transfer not been made. Subsection (c)(1) covers a transfer intended to be a contemporaneous exchange for new value that is in fact substantially contemporaneous. Subsection (c)(2) covers a payment of a debt incurred in the ordinary course, where the transfer was made in the ordinary course or according to ordinary business terms. Subsection (c)(3) covers a security interest that secures new value given at or after a security agreement describing the property, given to enable the debtor to acquire the property, and in fact used to acquire it, if the interest is perfected on or before 30 days after the debtor receives possession. Subsection (e)(2) treats the transfer as made when it takes effect if it is perfected at or within 30 days, except as subsection (c)(3)(B) provides; when it is perfected if perfection is after those 30 days; or immediately before the petition if it is not perfected at the later of commencement or 30 days after it takes effect. Subsection (f) presumes insolvency on and during the 90 days before the petition. Section 9-317(e) is a different rule: a purchase-money financing statement filed before or within 20 days after the debtor receives delivery can take priority over a buyer, lessee, or lien creditor whose rights arise between attachment and filing. The lawyer decides avoidance.
- Written for / version
- United States versionUS
Who does what
| Role | What they do |
|---|---|
| Assistance | Potential support includes assembling provisional schedules. Confirm the tool’s capability and permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Trace every relied-on figure to its source, confirm dates and assumptions, and independently recalculate totals or derived amounts.
- Calculate operative dates independently from the current rule and actual triggering event. Check exceptions and record the verified deadline.
- Check the current court or regulator requirements, prescribed form and attachments for the intended document and filing.
- Review operative clauses in the complete document, including definitions, cross-references, schedules and inconsistencies with the instructions.
- Verify dates, people and sequence against contemporaneous records. Preserve uncertainty and identify gaps or conflicting accounts.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.