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Northern District of Illinois – Focus of Inquiry Regarding Reasonably Equivalent Value Must Be On A Specific Transfer That A Trustee Seeks to Avoid Rather Than On Analysis of The Transaction’s Overall Value To A Debtor

May 19, 2021, Northern District of Illinois – Ronald Peterson filed an adversary proceeding as a Trustee of Chapter 7 Debtor Mack Industries, Ltd against Defendant Premier Electric Services, Inc. to avoid over $520,000 in transfers as fraudulent or preferential. Premier moved to dismiss the claim in Count 1 of the amended complaint for fraudulent transfers […]

Aventura Hotel Properties & Triptych Miami Holdings Seek to Recover $13 Million Allegedly Paid From the Assets of Debtor To QR Triptych & JQ Real Estate

June 15, 2021, Southern District of Florida – Debtors Aventura Hotel Properties, LLC (“AHP”) and Triptych Miami Holdings, LLC (“TMH”) sued Defendants QR Triptych, LLC and JQ Real Estate, LLC (“JQRE”) to avoid transfers worth $13 million according to Section 544 of the Bankruptcy Code and Section 726.105(1)(b), Florida Statutes. Specifically, the Debtors sought the return […]

McNider Marine Trustee Brings a Lawsuit Against Multiple Defendants to Recover $600K Allegedly Paid Under a Forbearance Agreement

June 15, 2021, Southern District of Alabama –  Trustee Terrie S. Owens for the bankruptcy estate of McNider Marine, LLC & John Brice McNider (“Debtors”) accuses Cain & Daniels, Inc., Keersten Heskin Martinez, PA a/k/a The Heskin Martinez Law Group ( Heskin), White and Williams LLP ( White), Business GPS, LLC (GPS) and multiple other […]

About 198 Clawback Actions Initiated in Exide Holdings, Inc. Bankruptcy

June 15, 2021, District of Delaware – Trustee Peter Kravitz for the GUC Trust of Exide Holdings, Inc. recently commenced one hundred and ninety eight (198) clawback actions against several creditors to avoid and recover alleged preferential transfers of property that occurred during the ninety (90) day period prior to the commencement of the bankruptcy […]

Rackwise Inc. & Rackwise Funding Moves to Dismiss Trustee Kapila’s Complaint Allegedly Seeking to Clawback Over $38M Towards Damages, Breach of Contract & as Preference & Fraudulent Transfers

June 7, 2021, Middle District of Florida – Earlier this month, Defendants Rackwise,  Inc. and  Rackwise  Funding  II,  LLC,  moved for dismissal of a complaint filed by  Plaintiff,  Soneet  R. Kapila,  as  Chapter  7  Trustee for the substantively consolidated bankruptcy estate of Richert Funding, LLC, Dwight Donald Richert and Holly Berry Richert (“Debtors”) under Rule 12 of the Federal Rules of Civil Procedure, as adopted by Fed.R.Bankr.P.  7012. The issue […]

A Connecticut Court Denies A Defendants’ Motion To Dismiss, Alleged Assets Were Transferred For Less Than Reasonably Equivalent Value

May 20, 2021, District of Connecticut – Debtor Integrity Graphics, Inc. was a full-service print and design company in Connecticut. The Debtor had a commercial revolving line of credit with Defendant People’s United Bank (PUB), as well as additional loans (collectively, the “Loan”) that were subject to a master credit agreement between the Debtor and […]

Labsource Trustee Brings A Fraudulent Action Against Luxor Scientific, Innovative Scientific Solutions & Others

June 8, 2021, District of South Carolina – Trustee John K. Fort for the bankruptcy estate of Labsource, LLC (“Debtor”) brings a lawsuit against a clinical laboratory, a scientific consulting firm, and a few others for an alleged actual and constructive fraud under Sec. 548 of the Bankruptcy Code. Allegedly, under an asset purchase agreement one […]

Tex-Gas Holdings Accuses Multiple Defendants of Fraud and Breach of Contract In a Transaction Involving $30,000,000.00 Revolving Loan

June 1, 2021, Southern District of Texas – Debtor-Plaintiff Tex-Gas Holdings, LLC brings a lawsuit against two foreign individuals, a British Virgin Island company and three others, seeking a declaratory judgment to resolve a $30 million dispute between the parties regarding defendants’ failure to abide by their financing obligations under a promissory note, loan agreement, and […]

Coal Operator Cambrian Holding’s Trustee Seeks to Clawback $7.7M from Several Defendants

June 11, 2021, Eastern District of Kentucky – Trustee Ellen Arvin Kennedy as a Liquidating Trustee of the Cambrian Liquidating Trust for the bankruptcy estate of Cambrian Holding Company, et al (“ Debtors”) brings clawback actions against thirteen defendants to avoid and recover alleged preference and fraudulent transfers under 11 U.S.C. §§ 547, 548 and 550 […]

Debtor Did Receive Reasonably Equivalent Value in Exchange for the Rental Payments, Case Dismissed For No Payment

The Debtors are a company incorporated in Guadalupe, Arizona and they own and operate restaurants.

Jones & Associates

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