Method and system for calculating and presenting bankruptcy preference payment defenses
First Claim
1. In a data processing medium, a method of calculating the contemporaneous exchange for new value defense for one or more preference payments comprising the steps of:
- creating in said data processing medium, one or more lines of data related to each of said preference payments, each of said lines of data including an expression of an invoice amount, a payment date and a provided date;
calculating a payment time for each of said preference payments, said calculation being a function of said payment date and said provided date;
selecting a CENV payment time;
comparing said selected CENV payment time to said calculated payment time of said preference payments; and
differentiating those of said preference payments having payment times that are less than or equal to said CENV payment time from the remainder of said preference payments.
0 Assignments
0 Petitions
Accused Products
Abstract
Automated methods and systems for separately calculating the contemporaneous exchange for new value defense, the ordinary course of business defense and the subsequent new value defense to claims for the return of preference payments made pursuant to the United States Bankruptcy Code. The inventions further contemplate combining the subsequent new value and ordinary course of business calculations and providing numerous results based on any of several ranges of values that may depict a range of days within which a bankruptcy debtor'"'"'s payments for products or services are presumed to be made within the ordinary course of business.
70 Citations
21 Claims
-
1. In a data processing medium, a method of calculating the contemporaneous exchange for new value defense for one or more preference payments comprising the steps of:
-
creating in said data processing medium, one or more lines of data related to each of said preference payments, each of said lines of data including an expression of an invoice amount, a payment date and a provided date;
calculating a payment time for each of said preference payments, said calculation being a function of said payment date and said provided date;
selecting a CENV payment time;
comparing said selected CENV payment time to said calculated payment time of said preference payments; and
differentiating those of said preference payments having payment times that are less than or equal to said CENV payment time from the remainder of said preference payments. - View Dependent Claims (2, 3, 4, 5, 6, 7)
-
-
8. In a data processing medium, a method of calculating the ordinary course of business defense for one or more preference payments comprising the steps of:
-
creating in said data processing medium, one or more lines of data related to each of said preference payments, each of said lines of data including an expression of a payment date and a provided date;
calculating a payment time for each of said preference payments, said calculation being a function of said payment date and said provided date;
selecting an assumed payment time;
selecting a day spread;
calculating an OCB protected range, said calculation being a function of said assumed payment time and said day spread;
comparing said OCB protected range to said calculated payment time of said preference payments; and
differentiating those of said preference payments having payment times that fall within said OCB protected range from the remainder of said preference payments. - View Dependent Claims (9, 10, 11, 12, 13, 14)
-
-
15. In a data processing medium, a method of calculating the ordinary course of business defense and the subsequent new value defense for one or more preference payments comprising the steps of:
-
creating in said data processing medium, one or more lines of data related to each of said preference payments, each of said lines of data including an expression of a payment date, a provided date and an invoice amount;
calculating a payment time for each of said preference payments, said calculation being a function of said payment date and said provided date;
selecting an assumed payment time;
selecting a day spread;
calculating an OCB protected range, said calculation being a function of said assumed payment time and said day spread;
comparing said OCB protected range to said calculated payment time of said preference payments;
differentiating those of said preference payments having payment times that fall within said OCB protected range from the remainder of said preference payments;
summing said invoice amounts for those of said preference payments having payment times that fall within said OCB protected range;
sorting said lines of data chronologically based on said payment date;
distinguishing lines of data related to said preference payments having payment times that fall within said OCB protected range from the remainder of said lines of data;
calculating the subsequent new value associated with each of said preference payments remaining after said distinguishing step;
summing said subsequent new value associated with each of said preference payments remaining after said distinguishing step; and
combining the sum of said invoice amounts for those of said preference payments having payment times that fall within said OCB protected range with the sum of said subsequent new value associated with each of said preference payments remaining after said distinguishing step. - View Dependent Claims (16, 17, 18, 19, 20, 21)
-
Specification