EASTERBROOK, Circuit Judge.
When does a check create a "transfer" for purposes of 11 U.S.C. § 547(b)? This statute allows the estate of a debtor in bankruptcy to avoid transfers made during the 90 days before the filing of the petition. If the transfer occurs when the check is honored, then Global Distribution Network is entitled to recover about $20,000 from its creditors, who supplied goods on open account. If the transfer occurs at any earlier time, the creditors...
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