Bankruptcy Preference Creditor's Digest
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Spansion Inc. – Current 7 Day APScans of Bankruptcy Preference Adversary Proceedings
This daily APScans report covers the substantive filings made during the immediately preceding 7 days in the adversary proceedings brought by Pirinate Consulting Group, LLC, as Claims Agent for the Chapter 11 Estates of Spansion, Inc. et al. for recovery of avoidable transfers under Chapter 5 of the Bankruptcy Code, including preferential transfers under Section 547 (bankruptcy preferences).
Related Materials:
- 09/23/2011 - Defendants Brief in Opposition to Plaintiffs Motion for Leave to Amend Complaint filed in AP No.: 11-51064 - Defendant Barclays Capital Inc. - A multi-faceted opposition to Plaintiff's motion to amend its complaint to recast a $1.5 million "retainer" payment as a fraudulent conveyance.
- 08/19/2011 - Defendant's Reply in Support of Motion to Dismiss filed in AP No.: 11-51064 - Defendant Barclays Capital Inc. - Defendant's straight forward reply: "Plaintiff improperly asks the Court to focus on its yet to be allowed, proposed amended complaint rather than defend its current pleading."
- 08/12/2011 - Plaintiff's Memorandum of Law in Opposition to Motion to Dismiss filed in AP No.: 11-51064 - Defendant Barclays Capital Inc. - In this response to Defendant's motion to dismiss, Plaintiff is in the awkward position of requesting leave to amend its complaint to preserve its fraudulent conveyance count by admitting that the $1.5 million "preferential payment" to the Defendant was actually a retainer. With no effort made to support a contention that the original complaint adequately alleged a constructive fraudulent transfer, the question is whether Chief, U.S. Bankruptcy Judge Kevin J. Carey will grant leave to amend.
- 04/29/2011 - Defendant's Motion to Dismiss filed in AP No.: 11-51064 - Defendant Barclays Capital Inc. - The shrewdness of this motion to dismiss and its effectiveness only became apparent with the filing of the Plaintiff's response on August 12, 2011. Defendant makes a tactical decision to seek dismissal of only the counts of the complaint based on constructive fraudulent transfer pursuant to 11 U.S.C. § 548(a)(1)(B), authorized post-petition transfer under 11 U.S.C. § 549, and disallowance of claims pursuant to 11 U.S.C. § 502(d) and (j). The preferential transfer count pursuant to to 11 U.S.C. § 547 is left alone - let Plaintiff try and explain how it brought a preference claim without an antecedent debt.
- CADDJ APScans Report of Complaints, Answers, Dismissals, Defaults and Judgments in the Spansion Inc. Bankruptcy Preferential Transfer Recovery Adversary Proceedings
Adversary Proceedings Overview
Lead Bankruptcy Case Name (Case Number): Spansion Inc. (09-10690)
Bankruptcy Court District (Division): District of Delaware
Petition Date: March 1, 2009
Associated Cases: The Associated Debtors are: Spansion Inc., a Delaware corporation ; Spansion Technology LLC, a Delaware limited liability company ; Spansion LLC, a Delaware limited liability company ; Cerium Laboratories LLC, a Delaware limited liability company , and Spansion International, Inc., a Delaware corporation .
Plaintiff: Pirinate Consulting Group, LLC, as Claims Agent for the Chapter 11 Estates of Spansion, Inc. et al.
Number of Proceedings: 61
When Filed: February 25, 2011
Adversary Proceeding Judge: Chief U.S. Bankruptcy Judge Kevin J. Carey
Plaintiff's Counsel: ASK Financial LLP (St.Paul, MN), Kara E Casteel (Lead Attorney); Eckert Seamans Cherin & Mellott LLC (Wilmington, DE) through its attorney Ronald S. Gellert
Avoidance Period: The complaint identifies the preference period as the period "[o]n or within ninety (90) days before the Petition Date, that is between December 1, 2008 and March 1, 2009."
Proceedings to Watch
Bankruptcy preference claims against professionals, and especially law firms, are important to watch because they tend to generate more motions practice (motions to dismiss and motions for summary judgment) and hence more court decisions than the average bankruptcy preference proceedings. In the case of the Spansion adversary proceedings, the dominant player in the prosecution of bankruptcy preference claims, ASK Financial, is taking on the some heavy hitters in the legal, accounting, and investment banking fields, and the dollars involved are significant. (See table to right.)
Perhaps this list will provide some solace for all of those CFOs, controllers, credit managers, and business managers who, upon having their company hit with a preference claim, have suffered the question "How could you let this happen?" As we have had to explain to our clients on many occasions, getting hit with a preference claim is not a matter of having done something wrong. Even the best in the bankruptcy and restructuring fields are not immune.
| Firm Name | Clam Amount | Field |
| Latham & Watkins LLP | $4,949,943.81 | Legal |
| King & Spalding LLP | $3,166,152.02 | Legal |
| Baker & McKenzie Global Services LLC | $827,168.59 | Legal |
| K&L Gates LLP | $811,653.82 | Legal |
| Wilson Sonsini Goodrich & Rosati, Professional Corporation | $756,344.22 | Legal |
| Brown Rudnick LLP | $696,221.46 | Legal |
| Morrison & Foerster LLP | $591,118.70 | Legal |
| Houlihan Lokey, Inc. | $450,000.00 | Investment Banking |
| Gordian Group, LLC | $333,308.01 | Investment Banking |
| McKinsey & Company, Inc. | $1,208,000.00 | Turnaround Consulting |
| KPMG LLP | $2,270,686.16 | Accounting |
| Deloitte & Touche LLP | $392,318.76 | Accounting |
Pre-Applied Filters: The following filings are not included in the "Current" APScan: certificates or affidavits of service, receipts for filing fees and other clerical matters.
Not For Individual Docket Monitoring: Pre-applied filters may eliminate important notices and certificates. A party to an adversary proceeding must not consider APScans to be a substitute for reviewing the docket of the proceeding in which it is a defendant.
This is an unregistered version of APScans. The registered user version covers the entire history of these adversary proceedings. Click this link to become a registered user. Registration is free.
This APScans is updated daily. This APScans covers the period from April 01, 2012 through May 17, 2012.
| AP # | Doc. | Filed | Entered | Defendant | Category | Event | Spansion, Inc. APSCANS™ Docket-Text |
|---|---|---|---|---|---|---|---|
| © 2011 Burbage & Weddell LLC All Rights Reserved. Use of APSCANS is subject to www.burbageweddell.com Terms of Use. APSCANS™ is a trademark of Burbage & Weddell LLC | |||||||
| 11-51098 KJC | 037 | 05/17/2012 | 05/17/2012 10:56:40 | Micron Semiconductor Asia PTE. Ltd. | Order | Order-Scheduling | Order Approving Stipulation for Extension of Time of all Deadlines Contained in the Scheduling Order. (Related Document(s) 36 ) Order Signed on 5/17/2012. (Attachments: # (1) Exhibit 1) (LMD) |
| 11-51116 KJC | 117 | 05/17/2012 | 05/17/2012 10:23:22 | Central Freight Lines, Inc. et al | Mediation | Order Assigning Adv Proc to Mediation (Alternate) | Order Assigning KSI Corporation to Mediation. David Fournier is Appointed as the Mediator in this Adversary Proceeding.(Related Document(s) 98 ) Trial Date Set for 9/6/2012 at 10:00 AM at US Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #5, Wilmington, Delaware. Mediation Report due by 7/16/2012. Signed on 5/17/2012. (KPB) |
| 11-51085 KJC | 021 | 05/17/2012 | 05/17/2012 09:28:31 | Fidelix Co., Ltd. | Mediation | Order Assigning Adv Proc to Mediation (Alternate) | Order Assigning Adversary Proceeding to Mediation. Mark Minuti is Appointed as the Mediator in this Adversary Proceeding. (Related Document(s) 16 ) Trial Date Set for 9/6/2012 at 10:00 AM at US Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #5, Wilmington, Delaware. Mediation Report due by 7/16/2012. Signed on 5/17/2012. (KPB) |
| 11-51116 KJC | 116 | 05/15/2012 | 05/15/2012 10:24:45 | Central Freight Lines, Inc. et al | Mediation | Order Assigning Adv Proc to Mediation (Alternate) | ** Entered in Error ** Order Assigning Adversary Proceeding to Mediation. David Fournier is Appointed as the Mediator in this Adversary Proceeding. Mediation Report due by 7/16/2012. Signed on 5/15/2012. (AnemoneB, Bonnie) Modified on 5/15/2012 (AnemoneB, Bonnie). |
| 11-51116 KJC | 115 | 05/15/2012 | 05/15/2012 09:46:26 | Central Freight Lines, Inc. et al | utility | Corrective Entry | Corrective Entry. Form pulling Wrong Defendant name. (Related Document(s) 113 , 114) (KPB) |
| 11-51116 KJC | 114 | 05/15/2012 | 05/15/2012 09:32:26 | Central Freight Lines, Inc. et al | Mediation | Order Assigning Adv Proc to Mediation (Alternate) | **Entered in Error** Order Assigning KSI Corporation to Mediation. David Fournier is Appointed as the Mediator in this Adversary Proceeding. Trial Date Set for 8/16/2012 at 10:00 AM at US District Court, 844 King St., Courtroom #5, Wilmington, Delaware. Mediation Report due by 7/16/2012. Signed on 5/15/2012. (AnemoneB, Bonnie) Modified on 5/15/2012 (KPB). |
| 11-51116 KJC | 113 | 05/15/2012 | 05/15/2012 09:14:09 | Central Freight Lines, Inc. et al | Mediation | Order Assigning Adv Proc to Mediation (Alternate) | **Entered in Error** Order Assigning KSI Corporation to Mediation. David Fournier is Appointed as the Mediator in this Adversary Proceeding. Trial Date Set for 8/16/2012 at 10:00 AM at US Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #5, Wilmington, Delaware. Mediation Report due by 7/16/2012. Signed on 5/15/2012. (KPB) Modified on 5/15/2012 (KPB). |
| 11-51073 KJC | NaN | 05/08/2012 | 05/08/2012 14:12:18 | Eastern Company, Limited | Dismissal | Adv Proc Closed | Adversary Case 11-51073 Closed by Deputy Clerk. (KPB) |
| 11-51073 KJC | 024 | 05/08/2012 | 05/08/2012 09:47:46 | Eastern Company, Limited | Dismissal | Notice-Dismissal | Notice of Dismissal of Adversary Proceeding Filed by Pirinate Consulting Group, LLC, Claims Agent for the Chapter 11 Estates of Spansion, Inc., et al., (Attachments: # (1) Proof of Service) (Cohen, Howard) |
| 11-51085 KJC | 020 | 04/27/2012 | 04/27/2012 11:51:13 | Fidelix Co., Ltd. | Admin | Substitution of Counsel- Notice | Notice of Substitution of Counsel of Record to Defendant Filed by Fidelix Co., Ltd. (Mann, Kevin) |
| 11-51103 KJC | NaN | 04/25/2012 | 04/25/2012 11:47:39 | Shin-Etsu Polymer Co., Ltd. | Dismissal | Adv Proc Closed | Adversary Case 11-51103 Closed by Deputy Clerk. (KPB) |
| 11-51075 KJC | 040 | 04/25/2012 | 04/25/2012 10:16:41 | Elpida Memory, Inc. | Misc | Suggestion of Bankruptcy - Adversary | Suggestion of Bankruptcy Filed by Elpida Memory, Inc.. (Viceconte, Christopher) |
| 11-51116 KJC | 112 | 04/24/2012 | 04/24/2012 13:51:35 | Central Freight Lines, Inc. et al | Dismissal | Notice-Dismissal | Notice of Dismissal of Defendant, Air Express International dba DHL Global Forwarding, only Filed by Pirinate Consulting Group, LLC, as Claims Agent for the Chapter 11 Estates of Spansion, Inc. et al. (Attachments: # (1) Certificate of Service) (Argentina, Jr., Joseph) |
| 11-51103 KJC | 018 | 04/24/2012 | 04/24/2012 11:39:08 | Shin-Etsu Polymer Co., Ltd. | Dismissal | Notice-Dismissal | Notice of Dismissal of Adversary Proceeding Filed by Pirinate Consulting Group, LLC, as Claims Agent for the Chapter 11 Estates of Spansion, Inc. et al. (Attachments: # (1) Proof of Service) (Cohen, Howard) |
| 11-51098 KJC | 034 | 04/20/2012 | 04/20/2012 09:37:49 | Micron Semiconductor Asia PTE. Ltd. | Mediation | Order Assigning Adv Proc to Mediation (Alternate) | Order Assigning Adversary Proceeding to Mediation. David Fournier is Appointed as the Mediator in this Adversary Proceeding. Trial Date Set for 7/19/2012 at 10:00 AM at US Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #5, Wilmington, Delaware. Mediation Report due by 6/19/2012. Signed on 4/20/2012. (KPB) |
| 11-51101 KJC | 022 | 04/17/2012 | 04/17/2012 09:52:24 | Power Protection Services LLC | Notice | Adjourned/Rescheduled Hearing - Notice | Notice of Adjourned/Rescheduled Hearing /Notice of Settlement and Adjournment of Pretrial Conference Filed by Pirinate Consulting Group, LLC, as Claims Agent for the Chapter 11 Estates of Spansion, Inc. et al.. (Attachments: # (1) Notice of Service) (Cohen, Howard) |
| 11-51098 KJC | 033 | 04/17/2012 | 04/17/2012 09:49:39 | Micron Semiconductor Asia PTE. Ltd. | Discovery | Notice of Service | Notice of Service of Plaintiffs First Set of Written Discovery Requests Filed by Pirinate Consulting Group, LLC, as Claims Agent for the Chapter 11 Estates of Spansion, Inc. et al. (Cohen, Howard) |
| 11-51098 KJC | 032 | 04/13/2012 | 04/13/2012 14:32:47 | Micron Semiconductor Asia PTE. Ltd. | Discovery | Initial Disclosures | Notice of Service of Defendant Micron Semiconductor Asia PTE. Ltd.s Initial Disclosures Pursuant to Fed. R. Bankr. P. 7026 and Fed. R. Civ. P. 26(a) Filed by Micron Semiconductor Asia PTE. Ltd.. (Finocchiaro, Julie) |
| 11-51095 KJC | 023 | 04/09/2012 | 04/09/2012 14:49:38 | Kulicke and Soffa Industries, Inc. | Mediation | Order Assigning Adv Proc to Mediation (Alternate) | Order Assigning Adversary Proceeding to Mediation. David Fournier is Appointed as the Mediator in this Adversary Proceeding. Trial Date Set for 7/19/2012 at 10:00 AM at US Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #5, Wilmington, Delaware. Mediation Report due by 6/8/2012. Signed on 4/9/2012. (KPB) |
| 11-51095 KJC | 022 | 04/09/2012 | 04/09/2012 14:47:42 | Kulicke and Soffa Industries, Inc. | utility | Corrective Entry | Corrective Entry. Entered Wrong Trial Date. (Related Document(s) 21 ) (KPB) |
| 11-51075 KJC | 038 | 04/09/2012 | 04/09/2012 14:44:34 | Elpida Memory, Inc. | Mediation | Order Assigning Adv Proc to Mediation | Order Assigning Adversary Proceeding to Mediation and Setting Mediation Deadlines. David Fournier is Appointed as the Mediator in this Adversary Proceeding. Trial Date Set for 7/19/2012 at 10:00 AM at US Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #5, Wilmington, Delaware. Mediation Report due by 6/8/2012. Signed on 4/9/2012. (KPB) |
| 11-51075 KJC | 037 | 04/09/2012 | 04/09/2012 14:43:33 | Elpida Memory, Inc. | utility | Corrective Entry | Corrective Entry. Entred Wrong Trial Date. (Related Document(s) 36) (KPB) |
| 11-51075 KJC | 036 | 04/09/2012 | 04/09/2012 14:37:06 | Elpida Memory, Inc. | Mediation | Order Assigning Adv Proc to Mediation | **Entered in Error** Order Assigning Adversary Proceeding to Mediation and Setting Mediation Deadlines. David Fournier is Appointed as the Mediator in this Adversary Proceeding. Trial Date Set for 9/19/2012 at 10:00 AM at US Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #5, Wilmington, Delaware. Mediation Report due by 6/8/2012. Signed on 4/9/2012. (KPB) Modified on 4/9/2012 (KPB). |
| 11-51095 KJC | 021 | 04/09/2012 | 04/09/2012 14:29:45 | Kulicke and Soffa Industries, Inc. | Mediation | Order Assigning Adv Proc to Mediation (Alternate) | **Entered in Error** Order Assigning Adversary Proceeding to Mediation. David Fournier is Appointed as the Mediator in this Adversary Proceeding. Trial Date Set for 9/19/2012 at 10:00 AM at US Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #5, Wilmington, Delaware. Mediation Report due by 6/8/2012. Signed on 4/9/2012. (KPB) Modified on 4/9/2012 (KPB). |
| 11-51082 KJC | NaN | 04/05/2012 | 04/05/2012 15:01:10 | Nissin Ion Equipment Co. Ltd. | Dismissal | Adv Proc Closed | Adversary Case 11-51082 Closed by Deputy Clerk. (LMD) |
| 11-51082 KJC | 019 | 04/05/2012 | 04/05/2012 13:26:09 | Nissin Ion Equipment Co. Ltd. | Dismissal | Notice-Dismissal | Notice of Dismissal of Adversary Proceeding Filed by Pirinate Consulting Group, LLC, as Claims Agent for the Chapter 11 Estates of Spansion, Inc. et al. (Attachments: # (1) Certificate of Service) (Gellert, Ronald) |
| 11-51095 KJC | 020 | 04/05/2012 | 04/05/2012 12:14:24 | Kulicke and Soffa Industries, Inc. | mediation | Conflict Review | Conflict Review Pursuant to Local Rule 9019-2(e)(iii)(B) (Minuti, Mark) |
| 11-51075 KJC | 035 | 04/05/2012 | 04/05/2012 12:13:32 | Elpida Memory, Inc. | mediation | Conflict Review | Conflict Review Pursuant to Local Rule 9019-2(e)(iii)(B) (Minuti, Mark) |