News Topic: Section 547

On June 15, 2017, Curtis R. Smith, as Liquidating Trustee of the Hastings Creditors’ Liquidating Trust, filed approximately 69 complaints seeking the avoidance and recovery of allegedly preferential and/or fraudulent transfers under Sections 547, 548 and ... Read full article

Not uncommonly, a preference complaint fails to adequately allege that the transfers sought to be recovered by the trustee were made “for or on account of an antecedent debt owed by the debtor before such transfer was made”, as required under Section ... Read full article

On September 7-8, 2016, various debtors in the ADI Liquidation, Inc. (f/k/a AWI Delaware, Inc.), et al . bankruptcy proceeding filed approximately 332 complaints seeking the avoidance and recovery of allegedly preferential and/or fraudulent transfers ... Read full article

From May 11 to May 13, 2016, SRC Liquidation, LLC International Holdings, LLC (“Liquidating Debtor”), unleashed yet another wave of preference actions, filing approximately 257 additional complaints seeking the avoidance and recovery of allegedly ... Read full article

On May 5, 2016, SRC Liquidation, LLC International Holdings, LLC (“Liquidating Debtor”), filed approximately 137 complaints seeking the avoidance and recovery of allegedly preferential and fraudulent transfers under Sections 547 and 550 of the Bankruptcy ... Read full article

On March 14, 2016, Charles A. Stanziale, Jr., as the Chapter 7 Trustee of Simplexity, LLC, et al.  (the “Debtors”) filed approximately 44 preference complaints seeking to avoid and recover alleged preferential transfers pursuant to Sections 547 and 550 of ... Read full article

In the United States Bankruptcy Court for the District of Delaware, Peter Kravitz, as the Liquidating Trustee of the CWC Creditors Liquidating Trust, filed approximately 106 preference actions on March 15, 2016 seeking the avoidance and recovery of ... Read full article

In the month of February 2016, Charles A. Stanziale, Jr., in his capacity as the Chapter 7 Trustee of BMT-NW Acquisition, LLC (“Debtor”), filed approximately 49 preference actions seeking the avoidance and recovery of alleged preferential actions under ... Read full article

By way of update to the Capsule International Holdings preference action filings ( see original post here ), the Official Committee of Unsecured Creditors (the “Committee”) recently filed a Motion for Authority to Settle Classes of Preference Claim ... Read full article

On December 17th and 18th, 2015, the Official Committee of Unsecured Creditors (the “Committee”) of Capsule International Holdings, LLC, and its affiliated debtors and debtors in possession (the “Debtors”), filed approximately 80 complaints seeking the ... Read full article

As detailed in this previous post , the Liquidating Trustee appointed to prosecute preference actions in the RadioShack bankruptcy proceeding filed approximately 383 preference actions in late October and early November of this year. ... Read full article

In the United States Bankruptcy Court for the District of New Jersey, Charles Forman, the Chapter 7 Trustee to the debtors, Chopper Express, Inc., Chopper DDS, Inc., Life Trucking, Inc., and Pumpernickel Express, Inc. (“Debtors”), filed approximately 54 ... Read full article

Since the time of our last post on August 24, 2015, Alan D. Halperin, the Trustee of the FBI Wind Down, Inc. Liquidating Trust has filed 94 additional preference complaints seeking to avoid and recover alleged preferential transfers pursuant to Sections ... Read full article

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 ... Read full article

In the recent opinion of Burtch v. Revchem Composites, Inc. (In re Sierra Concrete Design, Inc.) , Adv. No. 10-52667 (CSS), 2015 WL 4381571 (Bankr. D. Del. July 16, 2015), the Delaware Bankruptcy Court issued a memorandum opinion following trial on claims ... Read full article

On July 29, 2015, Deb Shops SDFMC LLC, in its capacity as debtor in possession, filed 92 preference complaints seeking to avoid and recover alleged preferential transfers pursuant to Sections 547 and 550 of the Bankruptcy Code, and to disallow claims of ... Read full article

Recently in the Powerwave Technologies Inc. bankruptcy action, the Chapter 7 Trustee filed in excess of 100 preference actions seeking to avoid and recover alleged preferential transfers pursuant to Sections 547 and 550 of the Bankruptcy Code.  To read a ... Read full article

From April 24 to 27, 2015, Charles A. Stanziale, Jr., as the Chapter 7 Trustee of CPI Corp., et al ., filed preference complaints seeking to avoid and recover alleged preferential transfers pursuant to Sections 547 and 550 of the Bankruptcy Code, and to ... Read full article