Florham Park partner Dennis Terrell was quoted in the September 25 Bankruptcy Law360 on the current hot topic of preference claims, which are intended to keep a bankrupt company from preferring one creditor over another. Dennis is currently representing a defendant in the billion dollar preference claim brought by Enron Corp. in its bankruptcy case. Dennis commented that “vendors need to make sure that customers pay within specific payment terms. If a vendor sees that a customer is running into financial problems and is trying to alter payment terms, such as changing when it pays a vendor, it should raise a red flag, but a vendor may want to take the payment anyway. Of course, if a vendor receives a payment, it’s better to have that money today and fight a preference claim two years down the road.”