Bankruptcy Preference Creditor's Digest
Attorneys Defending Bankruptcy Bankruptcy Preference Claims Nationwide: 888.547.5170
Article List for for Mass Bankruptcy Preference, Avoidance Actions, Adversary Proceedings
ManagedStorage International, Inc. Bankruptcy Preference Adversary Proceedings Filed
On on January 12, 2012 and January 13, 2012, Jeoffrey L. Burtch, Chapter 7 trustee in the ManagedStorage International, Inc. Bankruptcy, commenced Chapter 5 preferential transfer recovery litigation with the filing of 55 complaints in the District of Delaware. »»» Read rest of article . . .
Anderson News, LLC Bankruptcy Preference Adversary Proceedings
On on December 19, 2011, Anderson News, LLC, as debtor in possession, commenced Chapter 5 preferential transfer recovery litigation against multiple former suppliers in the District of Delaware. »»» Read rest of article . . .
The Penn Traffic Company Plan Administrator Starts Bankruptcy Preference Adversary Proceedings
On from November 8 to November 17, 2011, WDC Solutions, Ltd., as Plan Administrator in the The Penn Traffic Company, et al. Bankruptcy, commenced Chapter 5 preferential transfer recovery litigation with the filing of 62 complaints in the District of Delaware . »»» Read rest of article . . .
Chapter 7 Trustee Starts BH S&B Holdings, LLC aka Steve & Barry’s Bankruptcy Preference Adversary Proceedings
On from November 8, 2011 to November 16, 2011, Robert L. Geltzer, Esq., as Chapter 7 Trustee in the BH S&B Holdings, LLC aka Steve & Barry’s Bankruptcy, commenced Chapter 5 preferential transfer recovery litigation with the filing of 79 complaints in the Southern District of New York. »»» Read rest of article . . .
CEI Liquidation Estate f/k/a Champion Enterprises, Home Builders Bankruptcy Preference Adversary Proceedings
On November 11, 2011 and December 12, 2011, Bruce H. Matson, Creditor Trustee of the CEI Liquidation Trust in the CEI Liquidation Estate f/k/a Champion Enterprises, Inc. Bankruptcy, commenced Chapter 5 preferential transfer recovery litigation with the filing of 232 complaints in the District of Delaware. »»» Read rest of article . . .
AC Liquidating Trust Starts Advanta Corp. Bankruptcy Preference Adversary Proceedings
On November 4, 2011, AC Liquidating Trust in the Advanta Corp. Bankruptcy, commenced Chapter 5 preferential transfer recovery litigation in the District of Delaware. The following is a summary of the proceedings. »»» Read rest of article . . .
MCTS2 Starts Velocity Express, Inc. Bankruptcy Preference Adversary Proceedings
On on September 21, 2011 and September 22, 2011, MCTS2 in the Velocity Express, Inc. Bankruptcy, commenced Chapter 5 preferential transfer recovery litigation with the filing of 79 complaints in the District of Delaware. »»» Read rest of article . . .
Thelen LLP Chapter 7 Bankruptcy Trustee Files Adversary Proceedings against Former Partners, Their New Law Firms
From September 15, 2011 to September 17, 2011, Yann Geron, as Chapter 7 Trustee in the bankruptcy of the former law firm Thelen LLC, filed 98 adversary proceeding complaints in the Southern District of New York against former Thelen partners and their new law firms and former Thelen clients. The Trustee sets the stage for each of these mass filing by describing Thelen’s rapid demise — from December 2006, when Thelen had 630 attorney’s, including 219 equity partners, to Thelen’s decision in October 2008 to dissolve the firm leaving $223 million in liabilities in excess of assets. »»» Read rest of article . . .
George L. Miller, Chapter 7 Trustee Starts Meridian Automotive Systems, Inc. Bankruptcy Preference Adversary Proceedings
On August 5, 2011, George L. Miller, Chapter 7 Trustee in the Meridian Automotive Systems, Inc. Bankruptcy, commenced Chapter 5 preferential transfer recovery litigation with the filing of 175 complaints in the District of Delaware. »»» Read rest of article . . .
Chapter 7 Trustee Starts Dean & Moore Insurance, Inc. Bankruptcy Transfer Avoidance Proceedings
On August 5, 2011, Tamara Miles Ogier, Trustee in the Dean & Moore Insurance, Inc. Bankruptcy, commenced Chapter 5 preferential transfer recovery litigation with the filing of 29 complaints – 23 complaints include Georgia fraudulent conveyance claims O.C.G.A. Sec. 18-2-70; 12 include Section 548 fraudulent conveyance claims; certain complaints also include equitable subordination, other state law claims and a preferential transfer claim complaints in the Northern District of Georgia (Atlanta). The Debtor operated an insurance agency. The Trustee admits that the Debtor conducted both “legitimate and illegitimate” operations. The Trustee claims, however, that the Debtor’s activities constituted a Ponzi scheme, based in part on “obtaining policies for fictitious persons and entities and other activities that allowed Debtor to obtain funds through fraudulent representations.” »»» Read rest of article . . .
BANKRUPTCY CREDITOR - ARTICLES, RESOURCES
- BANKRUPTCY PREFERENCE BASIC CONCEPTS, DEFENSES
- Introductory Concepts
- The Preferential Payment or Transfer
- Contemporaneous Exchange Defense
- Ordinary Course of Business Defense
- Subsequent New Value Defense
- Multiple Payments - Multiple Defenses
- Books and Records
- Basic Bankruptcy Preference Terminology
- A Three Question, Preliminary Self Assessment of a Bankruptcy Preference Claim
- Lesser Known Defenses
- THE PROCESS OF BANKRUPTCY PREFERENCE RESOLUTION
- The Bankruptcy Preference Recovery Decision – Who Makes It, How It Is Made
- Bankruptcy Preference Claims Timing – The Statute of Limitations, Other Factors
- The Art and Science of Negotiating Bankruptcy Preference Claims
- Bankruptcy Preference Demand Letters
- The Avoidance Complaint
- Do I Need a Lawyer to Negotiate or Defend a Bankruptcy Preference Claim?
- Creditors Committee Role in the Bankruptcy Preference Process
- Resources
- Bankruptcy Creditor Annotated Statutory Material – Bankruptcy Code
- Sec. 101 – Definitions
- Sec. 362 – Automatic Stay
- Sec. 363 – Use, Sale, Lease of Property
- Sec. 365. – Executory Contracts, Unexpired Leases
- Sec. 501 – Creditors, Claims
- Sec. 502 – Allowance of Claims, Interests
- Sec. 503 – Administrative Expenses
- Sec. 507 – Priorities
- Sec. 544 – Trustee as Successor
- Sec. 546 – Limitations on Avoiding Powers
- Sec. 547 – Preferences
- Section 548 – Fraudulent Transfers and Obligations
- Sec. 550 – Liability of Transferee of Avoided Transfer
- Bankruptcy Creditor Annotated Statutory Material – Bankruptcy Code
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