New Cases

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

October 4, 2022 admin

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

October 4, 2022 admin

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 […]

Buyer Under Chapter 11 Plan Sued for Allegedly Not Remitting the Payment to the Debtor

October 4, 2022 admin

September 13, 2022, US Bankruptcy Court for Eastern New York – Allan B. Mendelsohn, the chapter 7 trustee (the “Trustee”) for Catch 22 Liny Corp. (the “Debtor”) brings an adversary proceeding against Starfish Investors, LLC (the “Defendant”) to recover a certain amount from the Defendant due to its alleged breach of contract. By background, the […]

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

October 4, 2022 admin

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 […]

Twenty-Seven Defendants Face Clawback Lawsuits Over Alleged “Fraudulent Transfers” By AME Zion

August 23, 2022 admin

Download the full pdf of the complaint by clicking: here July 29, 2022, US Bankruptcy Court for Eastern District of California – Jeffrey I. Golden, the Chapter 11 trustee (“Trustee”) for the bankruptcy estate of AME Zion Western Episcopal District (“Debtor”) files lawsuits against twenty-seven Defendants to clawback alleged “fraudulent transfers” pursuant to 11 U.S.C. […]

Katerra’s Plan Administrator Sues Solaria For Payment of Outstanding Loan Amount

August 23, 2022 admin

Download the full pdf of the complaint by clicking: here July 22, 2022, US Bankruptcy Court for Southern District of Texas – Daniel R. Williams, the Plan Administrator for Katerra, Inc. (the “Debtor”) brings an adversary proceeding against Solaria Corporation (the “Defendant”) to recover money and property allegedly belonging to the bankruptcy estate of Katerra […]

Daily Dac: “Ponzi Scheme Lender May Be Off The Hook, After All: A Case Study”*

August 23, 2022 admin

July 14, 2022 – Daily Dac: “Ponzi Scheme Lender May Be Off The Hook, After All: A Case Study” (Authors: Tricia Schwallier and Michael A. Brandess) https://www.dailydac.com/ponzi-scheme-lender-may-be-on-the-hook-after-all/ *Onebowlinggreen.com posts articles for convenience of our subscribers. Onebowlinggreen.com does not endorse the contents of articles. The post Daily Dac: “Ponzi Scheme Lender May Be Off The Hook, […]

Defendant Alleges Trustee’s Complaint Does Not Meet Higher Pleading Standards of “Actual Fraud” Claim

August 23, 2022 admin

Download the full pdf of the motion by clicking: here August 16, 2022, US Bankruptcy Court for Middle District of Florida – Defendant, Center for Aging and Rehabilitation Davenport, Inc. (“CARD”), pursuant to Federal Rules of Civil Procedure 12(b)(6) and (f), moves to dismiss the complaint filed by Douglas N. Menchise, the Chapter 7 trustee […]

Invictus Global Buys Claims of Over $1.1M in Face Value

August 23, 2022 admin

August 18, 2022, US Bankruptcy Court for Southern New York – Invictus Global Management, LLC 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 Southern New York, regarding transfer of four claims in Celsius Network bankruptcy […]

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

August 23, 2022 admin

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. […]

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