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New Jersey Bankruptcy Court Allows Trustee to Claw-back $2 million

April 29, 2022, New Jersey – Steven P. Kartzman, the chapter 7 trustee of The Mall at the Galaxy, Inc. (the Debtor) had filed an adversary complaint against Latoc, Inc. to avoid a promissory note for $2 million loan from Latoc to the debtor. In his complaint, Kartzman alleged that the debtor was “constructively fraudulent” […]

District Court Approves Trustee’s Use of Net Investment Method In Calculating Net Equity of the Customers in the Madoff Ponzi Scheme

April 15, 2022, New York – The District Court for the Southern District of New York has held in favor of a Trustee’s attempt to avoid and recover “approximately $16,880,000 that was transferred by BLMIS (Bernard L. Madoff Investment Securities LLC) to the entity defendants, Sage Associates and Sage Realty (“Sage Accounts”), in the two […]

Nevada Debtors Seek to Avoid and Recover $3,000,000 Allegedly Paid in “Dividends” and “Fees” in Alleged Litigation Finance Ponzi

May 3, 2022, Nevada – Debtors J & J Consulting Services, Inc. and J and J Purchasing, LLC have filed two adversary actions in their bankruptcy cases against ten defendants alleging, among other things, that the debtors were engaged in a “scheme to defraud” by selling personal injury settlements to investors. The complaints allege that […]

Forty-Seven Defendants Face Clawback Actions in Comcar Industries

May 3, 2022, Delaware – Patrick J. O’Malley, the liquidating trustee of debtors Comcar Industries, Inc., et al., filed adversary complaints on May 3, 2022, against forty-seven (47) defendants in the debtors’ jointly administered lead bankruptcy Case No. 20-11120. The cases are filed in the Bankruptcy Court for the District of Delaware. By way of these complaints, […]

“What the Debtor Surrendered and What the Debtor Received” Is the Focus of Fraudulent Transfers Analysis; Holds Hawaii Bankruptcy Court

May 3, 2022, West Virginia – Pacific Links U.S. Holdings, Inc., et al. in this adversary proceeding sought to avoid, as “constructively fraudulent”, certain guaranties and mortgages that they granted to defendant Tianjin Dinghui Hongjun Equity Investment Partnership (Limited Partnership) (“TDH”). Plaintiffs sought partial summary judgment determining that they did not receive reasonably equivalent value […] “United States: Recent Developments In Bankruptcy Law Update”

April 29, 2022 – “United States: Recent Developments In Bankruptcy Law Update” * posts articles for the convenience of our subscribers. does not endorse the contents of articles. (0)

Trustee Jordan E. Lubin Brings Clawback Actions in Allied Energy Services, LLC

February 18, 2022, Northern District of Georgia – Trustee Jordan E. Lubin, Chapter 7 for the bankruptcy estate of Debtor Allied Energy Services, LLC  brings lawsuits against twenty three defendants to recover more than $5 million in alleged preference and fraudulent transfers under Section 547 and 548 of the Bankruptcy Code. Through his complaints, the Trustee is  asserting that […]

Gyapomaa Kosei Inc. Sues Over 100 Named and Unnamed Defendants Alleging “Wrongful Foreclosure”; Seeks Damages

April 27, 2022, California – Gyapomaa Kosei Inc., a California debtor, has sued Select Portfolio Servicing, Inc., U.S. Bank National Association, Quality Loan Service Corporation and a hundred (100) unnamed defendants in a lawsuit alleging “wrongful foreclosure” among other claims. In its complaint, Gyapomaa alleges, inter alia, that one Edna Kuffour purchased a home which […]

Defendant Received Transfers in Good Faith and as Per Agreed Terms; Plaintiff Drops Fraudulent Conveyance Charges

Before the bankruptcy, the Debtor dealt with the purchase and administration of life insurance policies held by persons who were thought to be terminally ill. In December 2014, the court ruled that the Debtor’s principal shareholders and officers violated the country’s securities laws.

Detroit News: “Art Van Family Gets More Time To Respond To Lawsuit Alleging Fraud”*

April 21, 2022 -Detroit News: “Art Van Family Gets More Time To Respond To Lawsuit Alleging Fraud”* * posts articles for the convenience of our subscribers. does not endorse the contents of articles. (1)

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