Bankruptcy Preference Creditor's Digest

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

burbageweddell — Fri, 03 Sep 2010 18:24:01 +0000

The 2008 Ply-Marts’ bankruptcy case (ND Ga. Case #08-72687) provides a poster-child picture of how trade creditors can lose when an involuntary bankruptcy petition is filed against »»

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

burbageweddell — Thu, 26 Aug 2010 03:03:15 +0000

For an estimated 2,200 vendors, holding approximately $30 million in outstanding pre-petition claims, the bankruptcy filing on August 25, 2010 (Delaware Bankruptcy Case No: 10-12636) of Oriental »»

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

burbageweddell — Fri, 27 Aug 2010 02:13:20 +0000

The demise of Hard Rock Theme Park in Myrtle Beach, S.C. was a stunning disappointment. After two years of construction and a lavish opening in June, 2008, »»

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

burbageweddell — Wed, 18 Aug 2010 21:01:26 +0000

On August 16, 2010, the Chapter 7 bankruptcy trustee for Ply-Marts, Inc. (Northern District of Georgia Bankruptcy Case No. 08-72687) sued twenty creditors of the defunct lumber »»

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

burbageweddell — Tue, 17 Aug 2010 23:01:20 +0000

Over a 3 day period, August 9th, 10th and 11th, 2010, the trustee of the liquidating trust for Intermet Corporation and its 19 co-debtors (the “Debtors”), filed »»

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

burbageweddell — Fri, 30 Jul 2010 14:13:43 +0000

[Updated August 4. 2010] Ocean Ridge Capital Advisors LLC, as Creditor Trustee for the WCI Communities, Inc., Creditor Trust, over a eight day period (July 27, 2010 »»

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

burbageweddell — Thu, 22 Jul 2010 17:30:23 +0000

On July 22, 2008, SemCrude, L.P. and 26 affiliated debtors (the “Debtors”) filed bankruptcy petitions in Delaware Bankruptcy Court (Lead Case No. 08-11525). On July 21, 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.

admin — Tue, 13 Jul 2010 21:34:54 +0000

On July 2, 2010, the United States Court of Appeals for the Sixth Circuit ruled that, under Kentucky law, the “immunizing” effect of a purchase money security »»

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?

burbageweddell — Thu, 01 Jul 2010 00:38:03 +0000

During the first half of 2010, the United States Court of Appeals for the Ninth Circuit and the United States Court of Appeals for the Tenth Circuit »»

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

burbageweddell — Mon, 28 Jun 2010 16:00:10 +0000

On June 18, 2010 the U.S. Bankruptcy Court in Delaware authorized the Official Committee of Unsecured Creditors to commence preference actions against creditors of Crucible Materials Corporation »»