New Cases

Cachet Financial Services Fights to Recover $500K From Axos Bank, Alleges Withholding Stolen Property From Owner Is Violation of California Penal Code Section 496(a)

February 2, 2022 admin

January 19, 2022, Central District of California – Reorganized Debtor Cachet Financial Services fka Cachet Banq., Inc., files a legal action against Defendant Axos Bank for avoidance and recovery of alleged preferential and fraudulent transfers, unjust enrichment, conversion, and violation of Cal. Penal Code § 496(a). The facts alleged in the complaint are: Before the petition […]

Jones Day : “United States : The Year In Bankruptcy: 2021″*

February 1, 2022 admin

January 28, 2022 – Jones Day : “United States: The Year In Bankruptcy: 2021” (Author : Mark Douglas) https://www.mondaq.com/unitedstates/insolvencybankruptcy/1155738/the-year-in-bankruptcy-2021 *Onebowlinggreen.com posts articles for convenience of our subscribers. Onebowlinggreen.com does not endorse contents of articles. (4)

Louisiana International Marine Seeks to Wipe-Out Work Cat Florida Trustee’s $500K Clawback Complaint

February 1, 2022 admin

January 24, 2022, Middle District of Florida – Defendant Louisiana International Marine, LLC (“LIM”), moves for dismissal of Counts II and Count III of the adversary complaint filed by Douglas N. Menchise, in his capacity as Chapter 7 Trustee for the estate of Work Cat Florida, LLC f/k/a Work Cat Trans Gulf, LLC, under Federal Rule […]

Simple Essentials’ Creditor Sets-out to Disallow Pitman Farms’ $98M Proof of Claim

February 1, 2022 admin

January 22, 2022, Northern District of Iowa – Plaintiff ARKK Food Company, a creditor of Debtor Simple Essentials, LLC, brings a complaint against Pitman Farms to disallow the latter’s proof of claim number 3 for $98,722,336.53 pursuant to section 502 of the Bankruptcy Code and in the alternative, subordinate the claim pursuant to Bankruptcy Code section […]

Clawback Lawsuits Commence in The New School of Cooking, Inc., Trustee Avery Files 14 Lawsuits

January 31, 2022 admin

January 14, 2022, Central District of California – Wesley H. Avery, in his capacity as Chapter 7 Trustee for the bankruptcy estate of The New School of Cooking, Inc., initiates fourteen clawback actions against several defendants to recover alleged preference and fraudulent transfers of property under Sections 547 and 548 of the Bankruptcy Code. Asian Culinary […]

Plaintiff-Debtor Collab9 Seeks To Recover $16M Under an Assignment Agreement

January 31, 2022 admin

January 18, 2022, Central District of California – Plaintiff-Debtor Collab9, LLC commences legal action against Defendants Dinco, Inc. and its chairman, Attiazaz M. Din (who is also the director of Debtor) for avoidance and recovery of alleged transfers and for disallowance of claims under Section 544 of the Bankruptcy Code and California state law. Collab9 also […]

Taso Group Sued For $659K in Alleged Outstanding Balance On $9 million Promissory Note

January 31, 2022 admin

January 20, 2022, Southern District of Florida – Soneet R. Kapila, as Chapter 7 Trustee for the bankruptcy estate of Debtor Theosmans, Inc., f/k/a Check Cashing USA, Inc., (CCUSA), initiates a lawsuit against Florida based limited liability company, Taso Group, LLC, to recover the alleged outstanding balance of $659,192.36 on a $9 million promissory note (allegedly […]

Jones Day : “Delaware Bankruptcy Court: No Implied Assumption of Executory Contracts in Bankruptcy”*

January 30, 2022 admin

January 28, 2022 – Jones Day : “Delaware Bankruptcy Court: No Implied Assumption of Executory Contracts in Bankruptcy” (Author : Marissa Alfano, Mark Douglas) https://www.jdsupra.com/legalnews/delaware-bankruptcy-court-no-implied-4410602/ *Onebowlinggreen.com posts articles for convenience of our subscribers. Onebowlinggreen.com does not endorse contents of articles. (6)

Texas Court Dismisses Trustee’s Complaint, Finds That Complaint Lacks Factual Support For Its Assertions

January 28, 2022 admin

January 18, 2022, Southern District of Texas – The opinion refers to Defendant NSPS Metals, LLC’s motion for dismissal of Plaintiff-Debtor All Texas Electrical Contractors, Inc.’s (ATE) amended complaint for failure to state a claim. The facts of the case as summarized in the court opinion are: The dispute relates to the construction of a multimillion-dollar steel […]

Plan Administrator, Oxford Restructuring Advisors Brings Forty Six Clawback Actions in Bankruptcy Case of OGGUSA, Inc

January 28, 2022 admin

January 21, 2022, Eastern District of Kentucky – Oxford Restructuring Advisors LLC, as plan administrator of the GenCanna Wind-Down Trust for the bankruptcy estate of OGGUSA, Inc., files forty-six (46) lawsuits to avoid and recover alleged transfers under §§ 544, 547, 548, 549 550 of the Bankruptcy Code and disallow claims under 502(d). As alleged in […]

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