Articles tagged with: Spansion Inc.

Reports, Articles, Motions, Opinions Concerning Spansion Inc. Bankruptcy Preferential, Fraudulent Transfer Avoidance Adversary Proceeding Litigation

Barclays Capital Inc. Opposition to Pirinate Consulting Group’s Motion to Amend it Avoidance Complaint

09/23/2011 – Defendants Brief in Opposition to Plaintiffs Motion for Leave to Amend Complaint filed in the Spansion, Inc. Adversary Proceedings by Barclays Capital Inc. before Chief, U.S. Bankruptcy Judge Kevin J. Carey in the District of Delaware filed by Richards, Layton & Finger, P.A. (Wilmington, Delaware) attorneys Robert J. Steam, Jr., Julie A. Finocchiaro, and Amanda R. Steele .

Defendant Barclays Capital Inc. (“Barclays” or “Defendant”) opposes the motion of the Pirinate Consulting Group, LLC (“Plaintiff’), Claims Agent for the Chapter 11 Estates of Spansion, Inc., et al. (the “Debtors”) to amend its avoidance complaint.  Barclay’s opposition is based on dual grounds – first, the amended complaint so drastically alters the original pleading that can not relate back; and second, the proposed amend complaint itself would be would be subject to Rule 12(b)(6) dismissal.  Barclays weaves together multiple limitations on avoidance actions, some common and some obscure, into a formidable effort to dismiss the Plaintiff’s avoidance complaint in its entirety. 

Spansion, Inc. Bankruptcy: Pirinate Consulting Group, LLC, as Claims Agent fo v. Barclays Capital Inc. – Defendant’s Reply in Support of Motion to Dismiss

08/19/2011 – Defendant’s Reply in Support of Motion to Dismiss filed in the Spansion, Inc. Adversary Proceedings by Barclays Capital Inc. before Chief, U.S. Bankruptcy Judge Kevin J. Carey in the District of Delaware filed by Richards, Layton & Finger, P.A. (Wilmington, DE) attorneys Robert J. Stearn, Jr. and Amanda R. Steele.

Defendant had nothing to rebut in this reply brief. The sole objective of the reply was to assure that the focus remained on the gross deficiencies of the fraudulent transfer claim in the existing complaint. 

Spansion, Inc. Bankruptcy: Pirinate Consulting Group, LLC, as Claims Agent for Spansion, Inc. v. Barclays Capital Inc. – Plaintiff’s Memorandum of Law in Opposition to Motion to Dismiss

08/12/2011 – Plaintiff’s Memorandum of Law in Opposition to Motion to Dismiss filed in the Spansion, Inc. Adversary Proceedings by Barclays Capital Inc. before Chief, U.S. Bankruptcy Judge Kevin J. Carey in the District of Delaware filed by Eckert Seamans Cherin & Mellott LLC (Wilmington, DE) attorney Ronald S. Gellert; ASK Financial LLP (St. Paul, MN) attorneys Joseph L. Steinfeld, Jr. and Karen M. Scheibe .

Pirinate Consulting Group, LLC, Claims Agent (the “Plaintiff”) for the Chapter 11 Estates of Spansion, Inc., et al. (the “Debtors”), filed this opposition to the Motion to Dismiss (the “Motion to Dismiss”) filed by defendant, Barclays Capital Inc. (the “Defendant”). Plaintiff is in the awkward position of requesting leave to amend its complaint to preserve its fraudulent conveyance count by alleging that the $1.5 million “preferential payment” to the Defendant was actually a retainer that was not fully earned. With no effort made to support a contention that the original complaint adequately alleged a constructive fraudulent transfer, practically the entire brief is premised on a proposed amended complaint. The real question presented by this brief is whether Chief, U.S. Bankruptcy Judge Kevin J. Carey will grant leave to amend. While the Plaintiff is unapologetic as to the deficiencies in the original complaint, the Plaintiff forcefully argues that it has a good fraudulent conveyance case … if the amended complaint is allowed.

Spansion, Inc. Bankruptcy: Pirinate Consulting Group, LLC, as Claims Agent for Spansion, Inc. v. Barclays Capital Inc. – Defendant’s Motion to Dismiss

Defendant’s Motion to Dismiss filed in the Spansion, Inc. Adversary Proceedings by Barclays Capital Inc. before Chief, U.S. Bankruptcy Judge Kevin J. Carey in the District of Delaware filed by Richards, Layton & Finger, P.A. (Wilmington, DE) attorneys Robert J. Stearn, Jr. and Julie A. Finocchiaro.

Defendant Barclays Capital Inc. (“Defendant”), filed this motion to dismiss pursuant to Fed. R. Civ. P. 12(b)(6) seeking dismissal of only the counts of the complaint based on claims of 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. The complaint was filed by plaintiff Pirinate Consulting Group, LLC (“Plaintiff”), Claims Agent for the bankruptcy estates of Spansion, Inc., et al. (the “Debtors”). This brief was filed back in April, 2011, and on its face, this simple, seven page brief is unimpressive.  Its tactical brilliance was only revealed by Plaintiff’s August 12, 2011 response.

Pirinate Consulting Group, LLC, as Claims Agent for Spansion, Inc. Starts Bankruptcy Preference Adversary Proceedings

On February 25 and 26, 2011, Pirinate Consulting Group, LLC, as Claims Agent for the Chapter 11 Estates of Spansion, Inc. et al. commenced Chapter 5 preferential transfer recovery litigation with the filing of 61 complaints in the United States Bankruptcy Court for the District of Delaware.   Of the 61 initial complaints, 7  target law firms, 3 target investment banking firms and 2 name major accounting firms.  From these 12 professional organizations, the total amount sought exceeds $16 million.

Spansion Inc. – Bankruptcy Adversary Proceeding Claim Status (CDDJ)

This APScans is a report of the complaints, dismissals, defaults and judgments (“CDDJ”) in the Spansion Inc. adversary proceedings for recovery of avoidable transfers under Chapter 5 of the Bankruptcy Code, including preferential transfers under Section 547 (bankruptcy preferences) brought by Pirinate Consulting Group, LLC, as Claims Agent for the Chapter 11 Estates of Spansion, Inc. et al.. This report is a “start-end” report and does not report filings between these CDDJ events.