Supermarket Chain A&P Creditors Heaved a $4.4M Clawback Suit Against Egg- Suppliers
New York, August 2, 2017 – The unsecured creditors of a supermarket chain Great Atlantic & Pacific Tea Co Inc., better known as A&P supermarket chain initiated a preference lawsuit earlier this month, against a pair of egg suppliers – New Jersey-based CMC Food Inc. and Pennsylvania-based Hillandale Farms East Inc. In its complaint, the unsecured creditor’s committee claimed that the A&P made the alleged payments for egg deliveries between April 4, 2015, to July 18, 2015, and filed for Chapter 11 bankruptcy on July 20, 2015. Thus, the transfers worth $4.4 million were liable to be avoided as preferential, since they were made within the 90 days of the supermarket’s bankruptcy filing. The answer to the complaint, in this case, is due by September 6, 2017. The pre trial conference is scheduled for October 5, 2017.
The adversary proceeding is The Official Committee of Unsecured Creditors vs. CMC Food Inc. et al., case no. 17-08254 in the United States Bankruptcy Court for the Southern District of New York. The underlying bankruptcy case is In re The Great Atlantic & Pacific Tea co., Inc. et al., case no. 15-23007.
Seventh Circuit Refines the Standard for Calculating the Baseline of Payment History Between the Parties
Unsecured Creditors Comm. of Sparrer Sausage Co. v. Jason’s Foods, Inc., No. 15-2356, 2016 U.S….Read More
Quantum Foods – Preference Liability May be Set-off by an Allowed Unpaid Post-Petition Administrative Claims
Official Comm. of Unsecured Creditors of Quantum Foods, LLC v. Tyson Foods, Inc.(In re Quantum…Read More
Security Interest Perfected Beyond 30-Days After the Debtor Received Possession Of Vehicle is a Preference
Reynard v. Bank of Am., N.A. (In re Resler), Nos. 15-00477-TLM, 15-06052-TLM, 2016 Bankr. LEXIS…Read More
Imperative to Meet Rule 9019 Standards For Courts to Approve Compromise Between the Parties
In re Stanfill, No. 3:15-bk-30233-SHB, 2016 Bankr. LEXIS 2535 (U.S. Bankr. E.D. Tenn. July 8,…Read More
A Debtor’s Prepetition Transfer of a Farm was Fraudulent Because No Reasonably Equivalent Value was Received in Return
Zeddun v. Griswold (In re Wierzbicki), No. 16-1334, 2016 U.S. App. LEXIS 13688 (7th Cir….Read More