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Citigroup Trades Claims of More Than $50M Face Value in LATAM

August 21, 2022, US Bankruptcy Court for Southern New York – Citigroup Financial Products, Inc. makes new set of transfers pursuant to Rule 3001 (e)(2) of the Federal Rules of Bankruptcy Procedure in the LATAM Airlines bankruptcy case. Some of the transfers are as follows: Transferor Transferee Claim Amount Claim No. Citigroup Financial Products, Inc.  […]

Case Dismissed for No Payment Based on Subsequent New Value Defense

Before bankruptcy, the debtor operated as a neuromodulation medical device company while the defendant, our client, designed medical equipment.

Trustee Seeks to Clawback $6.2M of Preferred Dividends Payments Made By Subsidiary

Download the full pdf of the complaint by clicking: here July 21, 2022, US Bankruptcy Court for Southern Ohio – GlassRatner Advisory & Capital Group, LLC, solely in its capacity as the trustee (the “Trustee”) of the Hopedale Creditors’ Trust brings an adversary proceeding against Weston Energy, LLC (the “Defendant”) to avoid and recover alleged […]

Argo Partners Picks Up BK Claims in Tiger Oak Media Chapter 11 Bankruptcy

July 28, 2022, US Bankruptcy Court for Minnesota – Argo Partners, in its capacity as transferee, files evidence and notice pursuant to Rule 3001 (e)(2) of the Federal Rules of Bankruptcy Procedure with the United States Bankruptcy Court for Minnesota, regarding transfer of five claims in Tiger Oak Media bankruptcy case. Transferor Transferee Claim Amount […]

District Court Reverses: BK Erred in Dismissing Malpractice Claim

Download the full pdf of the opinion by clicking: here July 29, 2022, US District Court for Southern New York – The US District Court for Southern New York reversed a Bankruptcy Court decision granting summary judgment to Defendants in the Basic Foods bankruptcy case. The plaintiffs Jae Ho Lee (“Lee”), his wife Soyoun Park […]

Defendant Seeks Dismissal Citing Wrong Address Snafu

Download the full pdf of the opinion by clicking: here July 26, 2022, US Bankruptcy Court for Delaware – Willard Manufacturing, Inc. (the “Defendant”) files a motion to dismiss the claims asserted against it in the amended complaint of Alan D. Halperin, Liquidating Trustee (the “Trustee”) of the High Ridge Brands Liquidating Trust. HRB Winddown, […]

Texas Oil Defendants Hit with $2.8M Clawback Suit For Alleged Preferences

Download the full pdf of the complaint by clicking: here July 20, 2022, US Bankruptcy Court for Southern Texas – Scott A. Rinaldi, in his capacity as trustee (the “Trustee”) of the BJ Services Wind-Down Trust and as sole representative of BJ Services, LLC and BJ Services Management Holdings Corporation (the “Debtors”) , files lawsuits […]

Foreclosure Sale Winner Faces Trustee Fraudulent Conveyance Action

Download the full pdf of the complaint by clicking: here July 21, 2022, US Bankruptcy Court for Massachusetts – Gabhaltais Teaghlaigh LLC (“Debtor”) sues Synergy Funding, LLC and OHP LLC (“Defendants”) to avoid a foreclosure transfer of property allegedly belonging to the bankruptcy estate. The Debtor claims that the foreclosure sale was allegedly “unperfected” and […]

Delaware Judge Rejects D&O’s MTD

Download the full pdf of the opinion by clicking: here July 27, 2022, US Bankruptcy Court for the District of Delaware – The US Bankruptcy Court for Delaware denied Defendants’ motion to dismiss the claim for breach of fiduciary duty alleged by Alfred T. Giuliano, the Chapter 7 trustee (“Trustee”) for bankruptcy estates of Nobilis […]

Unpaid New Value Stays Unpaid Even When Later Paid Post Petition–11th Cir

Download the full pdf of the opinion by clicking: here July 18, 2022, US Eleventh Circuit Court of Appeals – The Eleventh Circuit Court of Appeals reversed the Bankruptcy Court’s order which had denied Auriga Polymers Inc. (“Defendant”) motion to offset its preference liability against the new value Auriga provided to Beaulieu Group, LLC (“Debtor”) […]

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