While a party must prevail on the position it took in the previous litigation, it is not essential that the party received a benefit from its earlier position. See discussion in In re Hutchins, supra, and cases cited there. Chaitman v. Paisano Auto. Liquids, Inc. (In re Almarc Mfg., Inc.), 62 B.R. 684, 686 (Bankr.N.D.Ill. 1986). If those three elements are satisfied, the creditor may set off the amounts of the post-preference unsecured credit which remains unpaid as of the petition date against the amounts which the creditor is required to return to the trustee on account of the preferential transfer.
77 (line 5); p. 78 (lines 12-21); p. 79 (lines 10-22); p. 81 (lines 1-10). Stallings further admitted that he did not review any Precor dealers’ records regarding their payment practices relating to Precor. Stallings Tr., p. 89 (lines 6-10). Nor did Stallings ever have any discussions schwinn beach cruiser about the payment practices of Precor’s customers with any representative of Precor. Stallings Tr., p. 90 (lines 4-7). By the mid-1970s, competition from lightweight and feature-rich imported bikes was making strong inroads in the budget-priced and beginners’ market.
792 (Bankr.N.D.Ohio 1988). In Rafoth, the issue was whether, in a preference action, an “insider” of one of the consolidated debtors must be considered to be an “insider” of all of the consolidated debtors, solely because of the earlier substantive consolidation of the debtors’ bankruptcy estates. Rafoth, 88 B.R. The Rafoth court determined that an “insider” of one of the consolidated debtors was not an “insider” of each of the other debtors merely as a result of the substantive consolidation order. The court based its conclusion on the lack of a factual finding in its substantive consolidation order that the Debtors constituted a single corporate operation.
Schwinn sold an impressive 1.5 million bicycles in 1974, but would pay the price for failing to keep up with new developments in bicycle technology and buying trends. While every large bicycle manufacturer sponsored or participated in bicycle racing competition of some sort to keep up with the newest trends in technology, Schwinn had restricted its racing activities to events inside the United States, where Schwinn bicycles predominated. As a result, Schwinns became increasingly dated in both styling and technology.
Using the standard electro-forged cantilever frame, and fitted with five-speed derailleur gears and knobby tires, the Klunker 5 was never heavily marketed, and was not even listed in the Schwinn product catalog. Unlike its progenitors, the Klunker proved incapable of withstanding hard off-road use, and after an unsuccessful attempt to reintroduce the model as the Spitfire 5, it was dropped from production. A growing number of US teens and young adults were purchasing imported European sport racing or sport touring bicycles, many fitted with multiple derailleur-shifted gears.
Eventually, the market for adult bicycles grew smaller as cars became more affordable. Arnold sold his share of the company to Schwinn, who realized the importance of manufacturing and marketing bicycles for children. With lower prices possible due to advances in manufacturing, the market for children’s bicycles began to grow. The 26 x 1.75 size is the normal I.S.O. 559 mm size used on most mountain bikes; the 26 x 1 3/4 (I.S.O. 571 mm) is not interchangeable with any normal tire of similar width, although its bead circumference is the same as the “650C” size used on some high performance 26″ wheel bicycles.