March 27, 2020 Release of a Subordinate Lien Held to Be ‘New Value’ for a Preference Defense Eighth Circuit BAP crafts a preference rule protecting lenders in out-of-court workouts. 8th Circuit , April 21, 2016 Usual Rejection Rules Apply When Both Parties to a Contract Are Bankrupt Loss of 2,000 jobs doesn’t tile the scales away from contract rejection.