New Cases

Illinois Bankruptcy Court Allows Recovery of Transfers Made for the Benefit of Debtor’s Controlling Shareholders

March 30, 2022 admin

March 30, 2022, Illinois – The Bankruptcy Court for the Central District of Illinois has allowed Sheldon Stone, the Trustee for the debtor International Supply Co. (ISCO), to avoid and recover transfers in the amount of $ 1,720,000 made “from International Supply Co. to Citizens Equity First Credit Union (CEFCU)” on behalf of Lee Hofmann. […]

Accounting Professionals Face Lawsuits in the Double Jump, Inc. Bankruptcy Case; Trustee’s Complaint Alleges Breach of Fiduciary Duty

March 30, 2022 admin

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March 30, 2022, Nevada – Chapter 7 trustee, Christina Lovato, for the bankruptcy estates of Debtors DC Solar Solutions, Inc., DC Solar Distribution, Inc., DC Solar Freedom, Inc., and Double Jump, Inc., filed an action Scott Wentz, Rana Yee, and Montage Services, Inc., seeking damages and asserting a claim based on alleged professional malpractice, breach […]

Trustee of CFO Management Sues Accounting Professionals Alleging Breach of Duty

March 29, 2022 admin

March 29, 2022, Texas – David A. Wallace, the liquidating trustee of the estates of the Debtors CFO Management Holdings LLC et al., filed a lawsuit (Adversary Proceeding No. 22-04019) against accounting professional Curtis W. Bulgerin and firms Carpenter and Langford, P.C. and Carpenter & Langford, PLLC (collectively, “C & L”) seeking a judgment that […]

Twenty-Seven Defendants Face Bankruptcy Claw Back Actions in the Sklar Exploration Company Bankruptcy Case

March 24, 2022 admin

March 24, 2022, Colorado – Thomas M. Kim, the creditor trustee for the post-confirmation trustee of the Debtors Sklar Exploration Company, LLC, et al., has filed twenty-seven (27) adversary actions seeking to avoid and recover alleged preferential transfers pursuant to Section 547 of the Bankruptcy Code. As gathered from the Plaintiff’s complaints, the Debtors were […]

TXU Retail Energy Company Moves to Dismiss Trustee’s Fraudulent Transfer Claim

March 18, 2022 admin

March 18, 2022, Texas – TXU Retail Energy Company, LLC has moved to dismiss the complaint filed by the Plan Administrator of the estates of Debtor Griddy Energy LLC involving a fraudulent transfer claim for the alleged transfer of the Debtor’s customers to the Defendant. The Defendant in its Motion states that “Following Griddy’s material […]

Group Adversary Complaint Filings in the Mynd Spa & Salon Bankruptcy Case; $2.5 Million Claim Against Alleged Insiders

March 18, 2022 admin

March 18, 2022, New York – Albert Togut, the Chapter 7 Trustee of the estate of Debtors Mynd Spa & Salon, Inc., et al., filed adversary actions against fifty-six (56) defendants seeking to recover transfers made to the Defendants as alleged preference and fraudulent transfers, among other claims. In one of these adversary cases, the […]

Whittaker Corporation Seeks Declaratory Relief in Santa Clarita Bankruptcy, Alleging Subordination Claims of $35 Million

March 18, 2022 admin

March 7, 2022, District of Arizona – Plaintiff Whittaker Corporation initiates a complaint against Blue Ox Holdings, LLC, Michael W. Carmel, in his capacity as Chapter 11 Trustee of Debtor Santa Clarita, LLC, and thirty unnamed defendants, alleging subordination claims involving lien and loan amount totaling $35,000,000. The complaint alleges that the Debtor was allegedly […]

Defendant HPS Investment Partners,…

March 18, 2022 admin

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HPS Investment Partners, LLC Seeks Dismissal Of Alta Mesa Resources Trustee $139 Million Complaint March 7, 2022, Southern District of Texas – Defendant HPS Investment Partners, LLC seeks dismissal of a complaint filed by Plaintiff David Dunn, as Trustee of the AMH Litigation Trust in the bankruptcy case of Alta Mesa Resources, Inc., et al. In its motion […]

Trustee Alfred T. Giuliano Seeks to Clawback $3.1 Million From United Furniture Industries, Inc.

March 18, 2022 admin

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March 3, 2022, District of Delaware – Trustee Alfred T. Giuliano of Art Van Furniture, LLC, et al. brings a clawback lawsuit against United Furniture Industries, Inc. and First-Citizens Bank & Trust Company to avoid and recover $3,145,010.91 in alleged preferences under Section 547 of the Bankruptcy Code. Before filing for bankruptcy, Debtors offered customers […]

Bankruptcy Claims Market

March 17, 2022 admin

An Interview with the Director at Cherokee Acquisition about the Bankruptcy Claims Market (41)

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