Bankruptcy Preference Creditor's Digest
Attorneys Defending Bankruptcy Bankruptcy Preference Claims Nationwide: 888.547.5170
Materials listing for Defenses and Limitations
AbitibiBowater Inc. Bankruptcy: The Claims Agent v. GL & V Beloit-Lenox Inc. et al – Plaintiff’s Brief in Opposition to Motion to Dismiss
06/06/2011 – Plaintiff’s Brief in Opposition to Motion to Dismiss filed in the AbitibiBowater~Inc. Adversary Proceedings by GL &V Beloit-Lenox Inc. et al before Judge Kevin J. Carey in the District of Delaware.
The Claims Agent for AbitibiBowater, Inc., et al., (the “Plaintiff”) urges Judge Kevin J. Carey to apply In re [...]
Harvey Goldman & Company Bankruptcy: Gold v. Arm – Plaintiff’s Brief in Opposition to Motion to Dismiss
On July 14, 2010, an involuntary bankruptcy petition was filed against Harvey Goldman & Company d/b/a Worldwide Equipment Company(the “Debtor”). The Court later entered an Order for Relief under Chapter 7 of the Bankruptcy Code and a trustee was appointed (the “Trustee”). On February 18, 2011, the Trustee filed a complaint against Shirley Arm [...]
Lehman Brothers Inc. Liquidation: Giddens v. Citibank, N.A. et al – Defendant’s Memorandum of Law in Support of Motion for Partial Dismissal
05/26/2011 – Defendant’s Memorandum of Law in Support of Motion for Partial Dismissal filed in the Lehman Brothers Inc. Adversary Proceedings by Citibank, N.A. et al before Judge James M. Peck in the Southern District of New York (Manhattan).
Lehman Brothers, Inc. (“LBI”) liquidation Trustee seeks recovery of this $1 billion under almost every avoidance theory provided [...]
Kean Chuan Goh Bankruptcy: Sam S. Leslie, Chapter 7 Trustee v. John Hancock Life Insurance Company (U.S.A.) – Defendant’s Motion to Dismiss
05/25/2011 – Defendant’s Motion to Dismiss filed in the Kean Chuan Goh Adversary Proceedings by John Hancock Life Insurance Company (U.S.A.) before Judge Russell in the Central District of California (Los Angeles). The transfers involved pre-petition payments made by the debtor to his 401(k) account credited against a loan made to the debtor by the [...]
National Sports Attraction, LLC Bankruptcy: Jil Mazer-Marino, Chapter 7 Trustee v. Heisman Trophy Trust – Defendant’s Motion to Dismiss
05/20/2011 – Defendant’s Motion to Dismiss filed in the National Sports Attraction, LLC Adversary Proceedings by Heisman Trophy Trust before Judge Drain in the Southern District of New York (Manhattan). On March 11, 2011, the Chapter 7 Trustee National Sports Attraction, LLC d/b/a Sports Museum of America d/b/a National Sports Museum [...]
Ocean Ridge Capital Advisors LLC, as Creditor Trustee v. Landscape Forms, Inc. – Motion to Dismiss Based on “Single Transaction” Ordinary Course of Business Defense
05/17/2011 – Defendant’s Motion to Dismiss filed in the WCI Communities, Inc. Adversary Proceedings by Landscape Forms, Inc. before Judge Carey in the District of Delaware. A rare (with reason) motion to dismiss based on the ordinary course of business defense. Rarer still, a motion to dismiss on ordinary course of [...]
“Extaordinary” Circumstances Behind Marty Shoes Bankruptcy Preference Actions
On March 16, 2011, George L. Miller, Chapter 7 Trustee for the estates of Marty Shoes Holdings, Inc. commenced Chapter 5 preferential transfer recovery litigation with the filing of 98 complaints in the United States Bankruptcy Court for the District of Delaware. The Trustee makes a gutsy admission in his [...]
Tribune Company Creditors Committee Brings Mass “Insider” Preferential Transfer Recovery Actions
On October 3rd and 4th, 2010, the Official Committee of Unsecured Creditors of Tribune Company (the “Committee”, on behalf of Tribune Company, et al. (the “Debtors”) brought 209 adversary proceedings for the recovery of preferential transfers. Of these 209 complaints, all appeared to name individuals as the defendants. The primary theory of [...]
Circuit City Stores Bankruptcy Court – Transfer to Satisfy 503(b)(9) Claim Negates New Value
Eastern District of Virginia Bankruptcy Judge Kevin R. Huennekens, in a December 1, 2010 opinion in Circuit City Stores, Inc. v. Mitsubishi Digital Electronics America, Inc. (AP No. 10-03068), held that the preference claim defendant could not utilize a new value defense (Section 547(c)(4) defense) if the defendant receives a transfer for its § 503(b)(9) [...]
Circuit City Stores Bankruptcy – Liquidation Trustee Files 565 Bankruptcy Preference Actions
Alfred H. Siegel, as Trustee of the Circuit City Stores, Inc. Liquidating Trust filed 565 adversary proceedings for the recovery of bankruptcy preferences between November 5 and November 10, 2010 in the Bankruptcy Court for the Eastern District of Virginia. The complaints are unremarkable with one notable exception. The complaints include the following:
Plaintiff acknowledges that [...]