October 26, 2021, Northern District of Texas – James C. Leda, as Litigation Trustee of the Rooftop Group Litigation Trust (the “Trust”), recently initiated clawback actions against twelve (12) defendants to recover alleged preference transfers and fraudulent conveyances. The basis for the relief sought is under sections 541, 542, 544, 547, 548, 550, and 551 of Chapter 11 of the Bankruptcy Code and Rule 7001 of the Federal Rules of Bankruptcy Procedure.
By way of background, on April 30, 2019, Rooftop Group International Pte. Ltd. filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code. On August 25, 2019, Rooftop Group USA, Inc. and Rooftop Group Services (US) Inc. filed voluntary petitions for relief under chapter 7 of the Bankruptcy Code. On May 7, 2020, the Court entered an Order converting the cases of Rooftop Group USA, Inc. and Rooftop Group Services (US) Inc. from chapter 7 to chapter 11. Rooftop Singapore, a private limited company formed under the laws of Singapore, was historically in the business of manufacturing and selling consumer-friendly, remote-controlled quadcopters or drones.
The case is In re Rooftop Group International Pte. Ltd., Case Number – 19-43402. Honorable Mark X. Mullin is overseeing the Debtor’s bankruptcy case. The Trust is represented by the law firm of Ferguson Braswell Fraser Kubasta PC.
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