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Burbage & Weddell LLC – Bankruptcy Preference Claim Defense

Recent Motions Practice of Note
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  • 09/26/2011 - Lehman Brothers Holdings Inc. et al v. JPMorgan Chase Bank, N.A. (In re Lehman Brothers Holdings Inc.), Adv. Proc. No. 10-03266 in the Southern District of New York (Manhattan)  -  JPMorgans Submission in Response to Case Management Order :  JPMorgan Chase Bank, N.A. provides this detailed response to U.S. Bankruptcy Judge James M. Peck's August 15, 2011 directive for the parties to state, inter alia, "why each count of the Amended Complaint either is or is not susceptible to a ruling by the bankruptcy court with respect to the pending motion to dismiss [and] why each count of the [49 Count] Amended Complaint either is or is not susceptible to final adjudication by the bankruptcy court [or] susceptible to the issuing of a report and recommendation to the district court regarding each such count.
  • 09/23/2011 - Pirinate Consulting Group, LLC v. Barclays Capital Inc. (In re Spansion, Inc.), Adv. Proc. No. 11-51064 in the District of Delaware  -  Defendants Brief in Opposition to Plaintiffs Motion for Leave to Amend Complaint:  A multi-faceted opposition to Plaintiff's motion to amend its complaint to recast a $1.5 million "retainer" payment as a fraudulent conveyance.
  • 08/29/2011 - George L. Miller, Chapter 7 Trustee v. Brown Shoe Company, Inc. (In re Marty Shoes Holdings, Inc.), Adv. Proc. No. 11-51505 in the District of Delaware  -  Defendant's Reply Brief in Support of Its Motion to Dismiss Complaint: Defendant responds to Trustee Miller's request for the Court's leniency in enforcement of Delaware Bankrutpcy Court preference pleading standards - Chapter 7 trustees have to plead by the rules; after filing of the complaint is no time to play discovery "go fish".

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    Who we are: We are a law firm defending creditors against bankruptcy preference and other avoidable transfer claims. We have represented service providers, suppliers, shippers, warehousemen, commercial landlords, debt holders and many other types of bankruptcy creditors across the country.Click this link to read more about us and our approach to defending preference claims.

    Contact us: If you have received a demand letter or complaint, call us at 888.547.5170. We will share with you our initial observations at no charge. You can read our answers to some of the more frequently asked questions by clicking this link.

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    Friedmans Inc. v. Roth Staffing Company (In re Friedmans Inc.), Adv. Proc. No. 09-50364 (Bankr. D.Del. November 30, 2011)  - Opinion in the District of Delaware by U.S. Bankruptcy Judge Christopher S. Sontchi  -  Judge Sontchi holds that a debtor's post-petition payment pursuant to a critical vendor "wage order" has no affect on the subsequent new value preference defense. Judge Sontchi reaches this narrow result by application of two broad conclusions. First, Judge Sontchi rejects the notion that there is a distinction between payments by the "debtor" and the "debtor in possession" for purposes of preference analysis. Second, he holds that the filing of the bankruptcy 'fixes' the preference analysis as of the petition date.

    In re Lehman Brothers Inc.  Case. No. 08-01420 (Bankr. S.D.N.Y.  October 4, 2011)  - Memorandum Decision Signed Enforcing the Automatic Stay in the United States Bankruptcy Court for the Southern District of New York by U.S. Bankruptcy Judge James M. Peck  -  Judge Peck holds that "[c]ontractual provisions that purport to create synthetic mutuality [under 11 U.S.C. § 553(a)] are not a substitute for the real thing".  In so holding, Judge Peck refuses to join "nearly a dozen cases in ... a game of whisper down the lane from decision to decision."  Instead, he rejects UBS, AGs argument its should be allowed to retain $23 million of "excess collateral" pursuant to a cross-affiliate setoff provision – a/k/a a triangular setoff provision - in a swap agreement with debtor Lehman Brothers Inc. 

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    ManagedStorage International, Inc. Bankruptcy - 55 Avoidance Adversary Complaints Filed on January 12, 2012 and January 13, 2012: The plaintiff in these bankruptcy adversary proceedings is Jeoffrey L. Burtch, Chapter 7 trustee . The litigation is before U.S. Bankruptcy Judge Mary F. Walrath in the District of Delaware.   The complaints are straight forward, 3 count preferential transfer recovery pleadings. The trustee has taken care to make factual allegations in support of each element of a avoidable transfer under Section 547(b), including insolvency.

    Anderson News, LLC Bankruptcy - 65 Avoidance Adversary Complaints Filed on December 19 and December 28, 2011: The plaintiff in these bankruptcy adversary proceedings is Anderson News, LLC, as debtor in possession. The litigation is before U.S. Bankruptcy Judge Christopher S. Sontchi in the District of Delaware.   For these bankruptcy preference defendants who likely thought the statute of limitations expired 9 months ago, these adversary proceeding provide a dramatic illustration of the statute of limitations extending effect of a protracted period between the filing of an involuntary and the entry of an order for relief.

    CEI Liquidation Estate f/k/a Champion Enterprises, Inc.  Bankruptcy - 232 Avoidance Adversary Complaints Filed on November 11, 2011 and December 12, 2011: The plaintiff in these bankruptcy adversary proceedings is Bruce H. Matson, Creditor Trustee of the CEI Liquidation Trust. The litigation is before U.S. Bankruptcy Judge Kevin Gross in the District of Delaware.   A second round of complaints, an additional 55, was filed on December 12, 2011. All the debtors filed petitions on the same date - November 15, 2009. On the face of the complaints, there is no explanation as to why this second round is not outside of the 2 year statute of limitations.

     

    Recent Additions to APScans - Reports of Filings in Mass Adversary Proceedings

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    Lead Debtor Name
    Bankruptcy Court
    Judge
    APScans (click link)
     
    Advanta Corp.
    District of Delaware
    U.S. Bankruptcy Judge Kevin J. Carey
    Current
     
     
    Anderson News, LLC
    District of Delaware
    U.S. Bankruptcy Judge Christopher S. Sontchi
    Registered Users Only
     
    BH S&B Holdings, LLC aka Steve & Barry's
    Southern District of New York
    U.S. Bankruptcy Judge Martin Glenn
    Current
     
     
    CEI Liquidation Estate f/k/a Champion Enterprises, Inc.
    District of Delaware
    U.S. Bankruptcy Judge Kevin Gross
    Current
     
     
    ManagedStorage International, Inc.
    District of Delaware
    U.S. Bankruptcy Judge Mary F. Walrath
    Current
     
     
    Meridian Automotive Systems, Inc.
    District of Delaware
    U.S. Bankruptcy Judge Mary F. Walrath
    Current
     
     
    The Penn Traffic Company, et al.
    District of Delaware
    U.S. Bankruptcy Judge Peter J. Walsh
    Registered Users Only