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Preference Actions Filed in Seal123, Inc. Bankruptcy

December 15, 2016, Delaware – Last week, Seal123, Inc. Liquidation Trust filed approximately 68 complaints seeking the avoidance and recovery of allegedly preferential and/or fraudulent transfers under Sections 544 and/or 547, 548 and 550 of the Bankruptcy Code. Seal123, Inc. and its affiliated debtors filed voluntary petitions for bankruptcy in the U.S. Bankruptcy Court for the District of Delaware on January 15, 2015, under Chapter 11 of the Bankruptcy Code. On October 30, 2016, the Court confirmed the Debtors’ joint plan of liquidation. Previously, the company operated as a multi-channel specialty retailer that sold fashionable and contemporary apparel and accessory items for female consumers. The various avoidance actions are pending before the Honorable Christopher S. Sontchi. The pretrial conference has been scheduled for February 28, 2017, at 10:00 AM at US Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #6, Wilmington, Delaware


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