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Jones & Associates Wins for a Service Provider in Medical Industry. – Case Dismissed for Less Than 5% of the Claim Amount

Washington, February 9, 2016 – Jones & Associates successfully defended its client, a service provider in the medical industry. Debtor Natural Molecular Testing Corporation (NMTC) was a clinical laboratory incorporated in 2008 to provide highly specialized laboratory testing services. The lawsuit was initiated by Mark Calvert, the liquidation trustee of the Debtor against our client, the Defendant in the U.S. Bankruptcy Court for the District of Washington. The Defendant sold services to the Debtor in the form of doing tests. Jones & Associates successfully established that the Defendant provided reasonably equivalent value to the Debtor in exchange for the transfers received; hence the alleged transfers were not recoverable as fraudulent under Sec.548 of the Bankruptcy Code. The firm successfully argued that the transactions were made pursuant to an arms-length agreement and that the Defendant’s terms with other similarly-situated companies were not different from that with the Debtor. The Trustee agreed to dismiss the case for less than 5% of the $180k claim amount.


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