W. Schwinn, grandson Frank Valentine Schwinn took over management of the company. While an award of prejudgment interest is generally within the bankruptcy court’s discretion, In re Vic Bernacchi Sons, Inc., 170 B.R. 647, 656 (Bankr.N.D.Ind. 1994), it has properly been held in actions to recover a preferential transfers that the victorious plaintiff is entitled to prejudgment interest from the date of demand for return or, if no demand was made, from commencement of the adversary proceeding. In re Pearson Industries, Inc., 152 B.R. 546, 560 (Bankr.C.D.Ill. 1993); Vic Bernacchi, 170 B.R.
As discussed earlier, the Committee previously demonstrated in the Common Issues trial that the Debtors were insolvent during the Preference Period. In proving this element of its preference case, the Committee presented evidence to the Court reflecting that the Debtors’ liabilities exceeded their assets on a consolidated basis. Furthermore, the Defendant did not establish that the schwinn beach cruiser individual Schwinn subsidiaries were liable for their sister corporations’ debts to the Defendant. According to Thorholm, each of the Debtors had always separately paid its own invoices received from the Defendant. Indeed, Mr. Stallings himself testified that each of the various Debtors had a different payment pattern with the Defendant. Stallings Tr., p. 42 (lines 8-23, 18-22).
In Gorenstein, the Seventh Circuit found that “prejudgment interest should be presumptively available to victims of federal law violations. Without it, compensation of the plaintiff is incomplete and the defendant has an incentive to delay.” 874 F.2d at 436. The Circuit noted that there is no federal statutory interest rate on prejudgment schwinn ebike interest, but recommended using the prime rate for prejudgment interest in such a situation. The prime rate is a “readily ascertainable figure which provides a reasonable although rough estimate of the interest rate necessary to compensate plaintiffs not only for the loss of the use of their money but also for the risk of default.” Id.
The wheel rims were likewise robust, chromed, stamped steel with a unique profile designed to hold the tire bead securely, even if pressure were low or lost. It must be and is found that Stallings lacks personal, first-hand knowledge about ordinary business terms and practices in the treadmill industry in general. Thus, the Defendant failed to present credible evidence sufficient to establish the defense element of ordinary business terms under § 547(c)(2)(C). The Committee is correct to dispute the amount of credit to which True Fitness is entitled under § 547(c)(4). True Fitness’s new value analysis is flawed in the calculation it deduces from its sales to Debtors in that the analysis treats Debtors as a consolidated entity rather than separately.
34 (line 14); p. 49 (line 24)-p. In early 1992, Schwinn and True Fitness began discussing development of a new treadmill which True Fitness would build for Schwinn. According to Lamar, Schwinn desired a treadmill schwinn dealers which would be different from the treadmill which True Fitness was selling under its own name, since Schwinn sold the same treadmill at a price $400 to $500 greater than True Fitness. 8, p. 29 (lines 7-17).
As in Rafoth, the consolidation order in the related Schwinn cases did not contain a factual finding that the several Debtors constituted a single corporate operation. Additionally, § 101(31), the Code provision at issue in Rafoth defines “insider” based on the person’s relationship with the “debtor,” the same defined term used in § 547(c)(4) to describe who must benefit from alleged subsequent new value. See 11 U.S.C. § 101(31) and 547(c)(4). However, Mr. Lamar testified that during the Preference Period he received weekly and twice-weekly telephone calls from Mr. Stallings, the Defendant’s President. 39, p. 11 (lines 1-6); p. 13 (lines 5-10). 39, p. 12 (lines 9-25).
F. Goodrich bicycles, sold in tire stores, Schwinn eliminated the practice of producing private label bicycles in 1950, insisting that the Schwinn brand and guarantee appear on all products. In exchange for ensuring the presence of the Schwinn name, distributors retained the right to distribute Schwinn bikes to any hardware store, toy store, or bicycle shop that ordered them. W. Schwinn tasked a new team to plan future business strategy, consisting of marketing supervisor Ray Burch, general manager Bill Stoeffhaas, and design supervisor Al Fritz.
We do our best to find replacement parts, but keep in mind that parts may be difficult to find, especially for older models. It also may be cost-prohibitive to repair your machine if it is older. Our technicians are skilled in repairing and maintaining Schwinn fitness equipment.
1014, 1020 (Bankr.N.D.Ill. 1994) (Schmetterer, J.). “The doctrine is intended to protect the courts from being manipulated by litigants who seek to prevail twice on opposite theories.” Id. Although the doctrine is usually applied to successive suits, it is not so limited. Continental Illinois Corp. v. Commissioner of Internal Revenue, 998 F.2d 513, 518 (7th Cir. 1993), cert. Denied, 510 U.S. 1041, 114 S.Ct.
As fitness trends shifted and technology evolved, Schwinn responded by offering a lineup of groundbreaking and affordable cardio equipment, including exercise bikes and treadmills. As the parent company of such legendary brands as Schwinn and Mongoose, Pacific Cycle delivers some of the biggest names in outdoor recreation. But it’s not just the names customer’s trust, it’s the look and feel of our products, our superior quality, and our outstanding customer service that help us bring these premium brands to the hands and feet of our customers.