Justice Stevens delivered the opinion of the Court. Section 547(b) of the Bankruptcy Code, 11 U. S. C. § 547 (b), authorizes a trustee to avoid certain property transfers made by a debtor within 90 days before bankruptcy. The Code makes an exception, however, for transfers made in the ordinary course of business, § 547(c)(2). The question presented is whether payments on long-t…
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