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IN RE LACLEDE STEEL CO.

BAP No. 01-6040EM.

271 B.R. 127 (2002)

In re LACLEDE STEEL CO., Debtor. Concast Canada, Inc., Appellant, v. Laclede Steel Co., Appellee.

United States Bankruptcy Appellate Panel of the Eighth Circuit.

Filed: January 2, 2002.

Attorney(s) appearing for the Case

Kenneth P. McKay, Pittsburgh, PA, for appellant.

Christopher J. Lawhorn, John G. Shively (on brief), St. Louis, MO, for appellee.

Before KOGER, Chief Judge, SCOTT and DREHER, Bankruptcy Judges.

SCOTT, Bankruptcy Judge.

Laclede Steel Co. and Concast Canada, Inc. had been engaged in business for many years. The formal terms of their dealings required that Laclede pay its obligations to Concast thirty days after invoicing. In the ordinary course of their dealings, however, they did not adhere to these requirements. Rather, the average time it took Laclede to pay its obligations to Concast, prior to the 90 day preference period, was 52 days, although at least...

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