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Court Dismisses Law Firm’s “In Pari Delicto” Defense as Premature at Motion to Dismiss Stage

September 22, 2022, US Bankruptcy Court for Nevada – The Nevada Bankruptcy Court denied dismissal of the bankruptcy Trustee’s suit against a law firm under Federal Rule of Civil Procedure 12(b)(6). The Trustee’s complaint alleged “professional malpractice”, “breach of fiduciary duty”, and other claims against the law firm and the Court denied the use of […]

Management Co Files Motion to Dismiss Alleged 548 Transfer Claims Based on Defective Complaint

September 27, 2022, US District Court for Northern Texas – Defendant JMLP Management, LLC (“JMLP”) brings a 12(b)(6) motion to dismiss the complaint filed by Daniel J. Sherman, the trustee (“Trustee”) for JupiterMLP, LLC (“Debtor”). The Trustee’s complaint seeks to avoid and recover alleged transfers in the approximate amount of $1.5 million allegedly made by […]

NovaWulf Receives Transfers in the Face Amount of $1.1M in Celsius Network Bankruptcy

September 23, 2022, US Bankruptcy Court for Southern New York – NovaWulf Digital Management, LP among other transferees, files evidence and notice pursuant to Rule 3001(e)(2) of the Federal Rules of Bankruptcy Procedure for receiving transfers in the face amount of $1.1 million. The claimants transferred their claims in Celsius Network bankruptcy by signing respective […]

Unliquidated Claims Transferred in MD Helicopters Bankruptcy

September 19, 2022, US Bankruptcy Court for Delaware – Several claimants transfer their unliquidated claims pursuant to Rule 3001(e)(2) of the Federal Rules of Bankruptcy Procedure in MD Helicopters, LLC bankruptcy. Transferor Transferee Claim Numbers Claim Amount Zohar CDO 2003-1, Limited MD Helicopters, LLC 96, 102 Unliquidated Zohar III, Ltd MDHI Holdco, LLC 97, 101 […]

Trustee Seeks to Clawback Alleged Transfers Made to Allegedly Repay Another’s Loan

September 21, 2022, US Bankruptcy Court for Southern New York – Albert Togut, solely in his capacity as the Chapter 7 Trustee (the “Trustee”) of the estate of Kossoff PLLC (the “Debtor”) makes a complaint against Defendants World Global Fund LLC (“WGF”) and Tenantracers, LLC (“Tenantracers”) to avoid and recover alleged “fraudulent and preferential transfers” […]

Court Dismisses Use of “Business Judgment Rule” to Give Some Space to “Breach of Fiduciary Duty” Claim

September 19, 2022, US Bankruptcy Court for Western Pennsylvania – The Court denies in part and grants in part the motion filed by Peter Tsudis (the “Defendant”) to dismiss the complaint brought by KIND Operations, Inc. (the “KIND”), as assignee of the bankruptcy estate of PA Co-Man, Inc. (the “Debtor”). KIND alleges “breach of fiduciary duty”, […]

Former CEO Seeks Dismissal of 548 Action, Claims Resignation Dissolved Fiduciary Duty

September 08, 2022, US Bankruptcy Court for Central California – Defendant Robert Schenkkan (“Schenkkan”) moves the Bankruptcy Court of Central California to dismiss the complaint filed by Howard Grobstein, the Chapter 7 trustee (“Trustee”) for BTL Machine (“Debtor”). The motion is filed under Federal Rule of Civil Procedure 12(b)(6). The Trustee’s complaint alleges “breach of fiduciary […]

Harvard Law School: “The Texas Two-Step: The Code Says it’s a Transfer”*

July 19, 2022 – Harvard Law School: “The Texas Two-Step: The Code Says it’s a Transfer” (Authors: Mark Roe and William Organek) http://blogs.harvard.edu/bankruptcyroundtable/2022/07/19/texas-two-step-and-the-future-of-mass-tort-bankruptcy-series-the-texas-two-step-the-code-says-its-a-transfer/ *Onebowlinggreen.com posts articles for the convenience of our subscribers. Onebowlinggreen.com does not endorse the contents of articles. The post Harvard Law School: “The Texas Two-Step: The Code Says it’s a Transfer”* first […]

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