New Cases

Gold Depot Seeks Dismissal of Donna Lieberman’s Complaint to Recover $9.9 M as Clawback Transfers in Miami Metals I, Inc. Case

June 24, 2021 admin

June 14, 2021, Southern District of New York – Last week, Defendant Gold Depot, Inc. (“Gold Depot”) moves under Rule 7012 of the Federal Rules of Bankruptcy Procedure to dismiss an adversary action filed by Donna Lieberman in her capacity as a litigation trustee of the Miami Metals Litigation Trust to avoid and recover clawback […]

“Actions A Corporate Fiduciary Takes Under A Contract With His Corporation May Breach The Contract Itself, But It Does Not Breach Its Duties to the Corporation “, Illinois Bankruptcy Court Dismisses Trustee Goldstein’s Complaint For Breach Of Fiduciary Duty & Fraudulent Transfer

June 23, 2021 admin

May 17, 2021, Northern District of Illinois – Debtor VitaHEAT Medical, LLC manufactured and sold medical products. Defendant William Haas was the director of the Debtor, and his company, Defendant Thinheat, LLC, was one of the Debtor’s members. Thinheat owned several patents and in 2012 issued a patent license to the Debtor. Six years later, […]

Michael L Einterz of Einterz and Einterz Appointed as a Special Counsel in Gudorf Supply Company, Inc. Bankruptcy

June 23, 2021 admin

June 16, 2021, Southern District of Indiana – On June 16, 2021, the United States Bankruptcy Court for Southern District of Indiana approved the employment and retention of Michael L Einterz of Einterz and Einterz as a special counsel to the Gudorf Supply Company, Inc. (“Debtors”) in its bankruptcy case (Case number : 21-70158-AKM-11) Earlier last month, […]

Northern District of Illinois – Focus of Inquiry Regarding Reasonably Equivalent Value Must Be On A Specific Transfer That A Trustee Seeks to Avoid Rather Than On Analysis of The Transaction’s Overall Value To A Debtor

June 22, 2021 admin

May 19, 2021, Northern District of Illinois – Ronald Peterson filed an adversary proceeding as a Trustee of Chapter 7 Debtor Mack Industries, Ltd against Defendant Premier Electric Services, Inc. to avoid over $520,000 in transfers as fraudulent or preferential. Premier moved to dismiss the claim in Count 1 of the amended complaint for fraudulent transfers […]

Aventura Hotel Properties & Triptych Miami Holdings Seek to Recover $13 Million Allegedly Paid From the Assets of Debtor To QR Triptych & JQ Real Estate

June 21, 2021 admin

June 15, 2021, Southern District of Florida – Debtors Aventura Hotel Properties, LLC (“AHP”) and Triptych Miami Holdings, LLC (“TMH”) sued Defendants QR Triptych, LLC and JQ Real Estate, LLC (“JQRE”) to avoid transfers worth $13 million according to Section 544 of the Bankruptcy Code and Section 726.105(1)(b), Florida Statutes. Specifically, the Debtors sought the return […]

McNider Marine Trustee Brings a Lawsuit Against Multiple Defendants to Recover $600K Allegedly Paid Under a Forbearance Agreement

June 19, 2021 admin

June 15, 2021, Southern District of Alabama – Trustee Terrie S. Owens for the bankruptcy estate of McNider Marine, LLC & John Brice McNider (“Debtors”) accuses Cain & Daniels, Inc., Keersten Heskin Martinez, PA a/k/a The Heskin Martinez Law Group ( Heskin), White and Williams LLP ( White), Business GPS, LLC (GPS) and multiple other […]

About 198 Clawback Actions Initiated in Exide Holdings, Inc. Bankruptcy

June 17, 2021 admin

June 15, 2021, District of Delaware – Trustee Peter Kravitz for the GUC Trust of Exide Holdings, Inc. recently commenced one hundred and ninety eight (198) clawback actions against several creditors to avoid and recover alleged preferential transfers of property that occurred during the ninety (90) day period prior to the commencement of the bankruptcy […]

Rackwise Inc. & Rackwise Funding Moves to Dismiss Trustee Kapila’s Complaint Allegedly Seeking to Clawback Over $38M Towards Damages, Breach of Contract & as Preference & Fraudulent Transfers

June 15, 2021 admin

June 7, 2021, Middle District of Florida – Earlier this month, Defendants Rackwise, Inc. and Rackwise Funding II, LLC, moved for dismissal of a complaint filed by Plaintiff, Soneet R. Kapila, as Chapter 7 Trustee for the substantively consolidated bankruptcy estate of Richert Funding, LLC, Dwight Donald Richert and Holly Berry Richert (“Debtors”) under Rule 12 of the Federal Rules of Civil Procedure, as adopted by Fed.R.Bankr.P. 7012. The issue […]

A Connecticut Court Denies A Defendants’ Motion To Dismiss, Alleged Assets Were Transferred For Less Than Reasonably Equivalent Value

June 14, 2021 admin

May 20, 2021, District of Connecticut – Debtor Integrity Graphics, Inc. was a full-service print and design company in Connecticut. The Debtor had a commercial revolving line of credit with Defendant People’s United Bank (PUB), as well as additional loans (collectively, the “Loan”) that were subject to a master credit agreement between the Debtor and […]

Labsource Trustee Brings A Fraudulent Action Against Luxor Scientific, Innovative Scientific Solutions & Others

June 14, 2021 admin

June 8, 2021, District of South Carolina – Trustee John K. Fort for the bankruptcy estate of Labsource, LLC (“Debtor”) brings a lawsuit against a clinical laboratory, a scientific consulting firm, and a few others for an alleged actual and constructive fraud under Sec. 548 of the Bankruptcy Code. Allegedly, under an asset purchase agreement one […]

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