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Representing Bankruptcy Creditors in Negotiating, Defending Bankruptcy Preference Claims

Welcome to the Bankruptcy Preference Creditor’s Digest website. If this is your first exposure to bankruptcy preferences, we suggest that you START HERE. If you are already knowledgeable in the field of bankruptcy preference law, we believe that you will find this site to be, by far, the most comprehensive resource on the web about bankruptcy preference defense.

We are a law firm that represents businesses, both small and large, in responding to demands for return of preferential transfers.  We have represented manufacturers, commercial suppliers, commercial landlords and other bankruptcy creditors in asserting their rights and in the defense of bankruptcy preference claims.

We believe that our in depth knowledge of bankruptcy preference law, effective use of technology and practical, cost-benefit approach make us the ideal law firm to defend simple to highly complex bankruptcy preference claims.Picture of Bruce Weddell, on left, and Jesse Burbage

Among the still ongoing bankruptcy cases in which we have recently obtained dismissals of preference actions are the following:

  • Delphi Corporation  – Bankruptcy Court for the Southern District of New York
  • 3 Day Blinds, Inc. – Bankruptcy Court for the Central District of California
  • Pike Family Nurseries -  Bankruptcy Court for the Northern District of Georgia
  • HomeBanc Mortgage Corporation – Bankruptcy Court for the District of Delaware
  • ContinentalAFA Liquidation Trust – Bankruptcy Court for the Eastern District of Missouri

If you are faced with a bankruptcy preference claim, please consider us to represent you. We would like to hear from you and share with you our initial thoughts at no charge.  Please call us at 888.547.5170.

New or Updated Bankruptcy Creditor Resources: Lessons of an Economic Analysis of the 204 Intermet Corporation Preference Claims

An economic analysis of the 204 bankruptcy preference claims ($57,467,121 in total amount of claims) filed in the Intermet Corporation Bankruptcy by the GUC Liquidating Trustee of the GUC Liquidating Trust. The note focuses on:

1. claim amounts below the venue threshold under Section 1409(b);
2. application of the venue defense as to individual debtors in a multi-debtor bankruptcy; and
3. the inverse proportion of the number of small claim preference defendants to the potential preference recoveries for the liquidating trust.

Developments in Bankruptcy Preferential Transfer Law, Practice

13 Jul 2010 Sixth Circuit: Enabling Loan Collateralization Remains at Risk as Preferential Transfer Until Lien is “Actually Noted on Kentucky Certificate of Title” Leaves Purchase Money Lenders Subject to the Vagaries of Motor Vehicle Title Administration.

30 Jun 2010 Ninth and Tenth Circuits Reach Opposite Conclusions in First Half of 2010 – Can Depreciation Provide Basis for Monetary Relief under Section 550(a) for Non-Possessory Lien Holders Who have their Liens Avoided as Bankruptcy Preferences under Section 547?

13 Jun 2010 Delaware Bankruptcy Court Confirms Applicability of Section 1409(b) Venue Dollar Threshold to Claims for Recovery of Avoidable Preferential Transfers under Section 547

6 Jun 2010 “Subsequent Advance” Approach to Subsequent New Value May Still Live in the Eleventh Circuit… and Payment of 503(b)(9) Administrative Expense Claim Held to Reduce Subsequent New Value Defense to Bankruptcy Preference

2 Feb 2010 Can Pre-Petition Deliveries Provide a Bankruptcy Preference “New Value” Defense and Section 503(b)(9) Administrative Expense?

Bankruptcy Preference Assessment, Defense

2 Jun 2010 Three Questions that Give Practical Meaning to Fundamental Bankruptcy Preference Concepts

30 Mar 2010 A Bankruptcy Preference Adversary Proceeding Complaint – An Elemental Video Review – Part 1

5 Apr 2010 The Caption of the Adversary Proceeding Complaint – An Elemental Video Review – Part 2

11 Jan 2009 Ordinary Course of Business Bankruptcy Preference Defense

11 Jan 2009 Documentation Makes Contemporaneous Exchange Preference Defense a Winner

11 Jan 2009 Multiple Payments – Multiple Bankruptcy Preference Defenses – Mixing and Matching

19 Feb 2009 Section 365 Bankruptcy Preference Defense – Overlooked, Underutilized

11 Jan 2009 Bankruptcy Preference Subsequent New Value Defense

Mass Bankruptcy Preference Recovery Actions

3 Sep 2010 Ply-Marts: The Not-Good, the Bad and the Ugly Sides of Involuntary Bankruptcy

18 Aug 2010 Chapter 7 Trustee’s Ply-Marts Preference Claims Illustrate Some “Preference Claim Timing Facts Of Life”

17 Aug 2010 Lessons of an Economic Analysis of the 204 Intermet Bankruptcy Preference Adversary Proceedings

30 Jul 2010 WCI Communities Files 431 Bankruptcy Preference Actions for Recovery of Transfers by 126 Debtors Sharply Presenting Issue of Antecedent Debt, Transferor Identification

22 Jul 2010 SemCrude 356 Bankruptcy Preference Actions Filed Under Stricter Pleading Standard of In Re Charys

30 May 2010 OTC International – High Concentration of Foreign Bankruptcy Preference Defendants

23 Feb 2010 HomeBanc Mortgage – 386 Bankruptcy Preference Actions – Statute of Limitations Trustee Appointment Extension

Bankruptcy Preference Threat Watch List

26 Aug 2010 Creditors Brace for Preference Claims in Hard Rock Park (HRP) of Myrtle Beach Bankruptcy

28 Jun 2010 Crucible Materials Corporation – Unsecured Creditors Committee Gets Court “Go Ahead” to Commence Bankruptcy Preference Actions with Doubtful Benefit to Committee Constituents

27 Jun 2010 Monaco Coach Corporation – Mass Preference Claims Still Several Months Away But Coming

9 Jun 2010 PBGC Claims Provoke Crucible Materials Corporation’s Creditors’ Committee Head Start on Bankruptcy Preference Claims – Prior to Plan Confirmation

20 Jul 2010 Ascendia Brands, Inc. Poised to Launch Mass Bankruptcy Preference Actions

16 Sep 2009 Fluid Routing Solutions – Bankruptcy to Convert to 7, Preference Claims Coming

Bankruptcy Cases of Interest to Trade, Other Creditors

25 Aug 2010 Oriental Trading Company, Inc. Bankruptcy – 30 Largest Unsecured Creditors, Trade Debt Picture

17 Jun 2010 Pretty Products, LLC Bankruptcy – Background, Petition Statistical Information, Initial Direction and 20 Largest Unsecured Bankruptcy Creditors

29 Nov 2009 Grede Foundries – Debtor Onslaught to Disallow Supplier 503(b)(9) Administrative Expenses

18 Sep 2009 363 Sale Plans Resurface in Grede Foundries Bankruptcy; Will this Bankruptcy be Different?

25 Aug 2009 Bashas Lesson – PACA Trust Beneficiaries Require Bankruptcy Advocacy

3 Aug 2009 Cooper-Standard Automotive Combo 503(b)(9) Claims, Essential Supplier and Foreign Vendor Motion

30 Jul 2009 Stant Bankruptcy 363 Sale; Have and Have Not Suppliers

28 Jul 2009 Critical Vendor Motion in Arclin Bankruptcy Raises Questions for 503(b)(9) Claimants

17 Jul 2009 PACA, PASA Issues Complicate Bashas First-Day Motions

8 Jul 2009 How Did Lear Decide Which Suppliers are its Critical Vendors

5 Jul 2009 Strict European Insolvency Laws Next Risk for US Automotive Suppliers

3 Jul 2009 DDJ Capital Derails Grede Foundries and Wayzatas Fast Track 363 Sale Strategy

18 Jun 2009 GM Bankruptcy – Cure Costs Procedures Catastrophic Failures

18 Jun 2009 GM Bankruptcy – Selective Cure List and Substantive Objections

2 Jun 2009 GM Bankruptcy – For Suppliers Chrysler Bankruptcy Lesson 1

30 May 2009 Metaldyne Bankruptcy – A Dismal Picture for Suppliers

28 May 2009 Chrysler LLC Bankruptcy – Supplier $1,000,000 Cure Cost Club

26 May 2009 Chrysler LLC Bankruptcy – Supplier Contract Cure Costs Horrors

23 Apr 2009 Contech U.S., LLC Bankruptcy – 503(b)(9) Claim Bar Date and Procedures

20 Apr 2009 Noble International-Two Debtors not Insolvent?

SPECIAL REPORTS

9 Jan 2010 27 Automotive Suppliers File Chapter 11 Bankruptcies in 2009; End of Year Status Summary; Likelihood of Bankruptcy Preference Recovery