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New Article : Navigating Preference Actions in Retail Industry Restructurings

October 12, 2021 admin

9/17/2021 – Navigating Preference Actions in Retail Industry Restructurings (Authors: Colin Adams and Michael A. Cohen / Colin Adams is senior managing director at M3 Partners. Michael A. Cohen is managing director at Stretto.) https://www.law.com/newyorklawjournal/2021/09/17/navigating-preference-actions-in-retail-industry-restructurings/ (13)

Clawback Lawsuits in Emporia Property Group Bankruptcy Case

October 11, 2021 admin

October 6, 2021, District of Kansas – Plaintiff Sharon Stolte, as the Liquidating Agent of Emporia Property Group Liquidating Trust, for the bankruptcy estate of Debtor Emporia Property Group, LLC, initiated clawback actions against ten (10) defendants to avoid and recover approximately $400k as preferences and fraudulent conveyances under sections 548 and 550 of the […]

Beach Orangethorpe Hotel Sues Multiple Defendants for Alleged Breach of Fiduciary Duty in The Source Hotel Bankruptcy

October 11, 2021 admin

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September 29, 2021, Central District of California – Plaintiff Beach Orangethorpe Hotel, LLC (BOH), Jian Hua, Haiyuan Ma, Jiaxin Bao, Jingkun Shan, Jun Liu, Zhen Liu, Ziyu Li, Hongwei Liu, and Dongmei Shi (collectively, “Plaintiffs”), recently brought an adversary proceeding against M&D Regional Center, Shady Bird Lending, LLC, M+D Properties, Evertrust Bank and few others […]

A Foreign Defendant Moves to Dismiss Kmart Holdings’ Complaint for Insufficient Service of Process

October 10, 2021 admin

October 8, 2021, Southern District of New York – Defendant, Cleva Hong Kong Ltd. moves to dismiss a $13.8 million clawback action brought against it by the Plaintiff-Debtors Sears, Roebuck and Co. and Kmart Holding Corporation in the bankruptcy case of Sears Holdings Corporation, et al for insufficient service of process. The Defendants argue that […]

A Plaintiff’s Complaint Was Not an Impermissible Shotgun Pleading

October 10, 2021 admin

September 30, 2021, Northern District of Georgia – The Trustee of Menser’s Chapter 7 bankruptcy estate sought to avoid the premium payments from Defendant Nationwide Mutual Insurance Company as fraudulent conveyances. The Trustee argued that Nationwide was the initial or subsequent transferee of the premium payments. Further, the alleged payments were actual fraudulent transfers as […]

Defendants File a Motion to Compel Discovery Responses in PFO Global Inc.

October 9, 2021 admin

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October 7, 2021, Northern District of Texas – Defendants Charles Posternack, Edward Greene E. Dean Butler, Joseph B. Schimmel and a few others recently filed a motion to compel complete discovery responses and production of documents in the bankruptcy case of PFO Global, Inc. et al pursuant to Rule 37(a)(1) of the Federal Rules of […]

No Credible Evidence of Fraud, Judgment Entered in Favor of a Defendant

October 9, 2021 admin

September 30, 2021, District of New Hampshire – Plaintiffs M&M Electrical Supply Company, Inc. (M&M) and Consolidated Electrical Distributors, Inc. (CED) brought actual fraud, fraudulent intent, and several other claims against Defendant David R Blais, a former president of a company named, DRB Electric, Inc. By way of background, Plaintiff M&M sold certain supplies to […]

Amended Complaint is Timely Since the Original Complaint Was Filed Before a Two-Year Expiration Period

October 8, 2021 admin

September 27, 2021, Eastern District of Tennessee – Debtor The Strauss Company, Inc., a contractor, issued a check to Defendant Jarrett Builders, Inc., to pay for some subcontracting work on a construction project. Fewer than 90 days later, three creditors filed an involuntary Chapter 7 petition against Strauss. Strauss sought to recover the money paid to […]

Fragile Financial Conditions Under § 548 Must Be Satisfied

October 8, 2021 admin

September 7, 2021, Northern District of Texas – As part of a refinancing transaction in 2014, Debtors Stone Panels, Inc. (“SPI”) and Stone Panels Holding Corp. (“Holding”) jointly borrowed roughly $14 million that was immediately transferred to Defendant Thompson Street Capital Partners III, L.P. (“Thompson Street”) to partially satisfy a debt for which only Holding […]

No Contractual Privity, Dismiss the Complaint, Argues Prince Contracting

October 7, 2021 admin

October 4, 2021, Middle District of Florida – Third-Party Defendant Prince Contracting, LLC, recently moved to dismiss Defendant/Third-Party Plaintiff J&L Utility Construction, Inc.’s third-party complaint against Prince Contracting. Prince Contracting was a prime contractor on a Florida Department of Transportation construction project. Prince allegedly sub-contracted certain work to a third-party defendant H&M Electrical and Underground […]

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