11 U.S.C. 547

Gross Opinion Calls New Value “A Beacon of Light”

12/10/17

In a 32 page opinion entered December 5, 2017 Judge Gross of the Delaware Bankruptcy Court ruled on cross motions for summary judgment concerning an avoidance action in the Simplexity bankruptcy. Judge Gross’s opinion is available here (the “Opinion”).  This Opinion arises from a complaint brought by Charles A.

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RadioShack Preference Litigation has Begun – En Masse

11/02/15

On February 5, 2015, RadioShack and various related entities filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  We initially published a blog post about the filing here: RadioShack Pulls the Plug.  On October 2, 2015, the Court confirmed the Plan of Liquidation in the RadioShack cases

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Green Field Energy Services – Preference Actions Filed

10/26/15

On October 27, 2013, Green Field Energy Service, Inc. and a number of subsidiaries (the “Debtors”) filed for bankruptcy under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.  We initially published a blog post about the filing here: Green Field Energy Files for Bankruptcy Protection in Delaware.

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Assumption/Assignment of Contracts – Preference Defense

08/10/15

Many preference defendants are not aware of the fact that if their pre-petition contract with the debtor is assumed or assigned in the course of the bankruptcy, then such assumption/assignment will generally serve as a bar to recovery for receipt of alleged preferential transfers.

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Furniture Brands International – Preference Litigation has Begun

04/14/15

On September 9, 2013, Furniture Brands International (“Furniture Brands”) and various related entities filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  We initially published a blog post about the filing here: Furniture Brands Files for Bankruptcy in Delaware Seeking to Sell Assets

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Conex Bankruptcy – Summary Judgment in a Preference Action

12/21/14

In an 18 page opinion released December 18, 2014 in the Conex Holdings bankruptcy (Bank. D. Del.

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Graceway Pharmaceuticals Trustee Files Preference Complaints

09/27/13

On September 13th, the Liquidating Trustee (the “Trustee”) in the Graceway Pharmaceuticals (“Graceway”) bankruptcy filed preference complaints against approximately 25 different defendants. The Trustee is seeking to avoid and recover what he contends are avoidable preferences under section 547 of the United States Bankruptcy Code. 

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