Trustee Soneet R. Kapila for the substantively consolidated bankruptcy estate of Richert Funding, LLC and Dwight and Holly Richert sues Black Diamond Holdings, LLC and Black Diamond Financial Group, Inc.
Plaintiff Daniel J. Sherman, as the duly appointed Chapter 7 trustee of the estate of Permian Crude Transport, L.P. charges Matador Resources Company for the avoidance and recovery of fraudulent transfers worth $11M under sections 24.005, 24.006, and 24.013 of the Texas Uniform Fraudulent Transfer Act and sections 544, 548, and 550 under title 11 of the Bankruptcy Code.
Trustee Edwin H. Caldie for the estate of Tiger Oak Media, Inc. recently commenced an adversary proceeding against the Debtor’s CEO, Craig Bednar for fraudulent transfers and breach of fiduciary duty.
Bankrupt hemp-derived cannabinoids company OGGUSA, Inc. (f/k/a GenCanna Global USA, Inc.) recently initiated adversary proceedings against five defendants, alleging breach of contract and unjust enrichment.
Plaintiff Trustee Allan B. Mendelsohn for SRS Capital Funds, Inc. sues Defendant, Y.S.S.S. LLC to avoid and recover certain amounts transferred to Defendant within four (4) years before the filing of the bankruptcy petition, as fraudulent conveyances.
The Court ruled that a debtor's transfer of assets to a defendant was not avoidable as a fraudulent transfer under 11 U.S.C.S. § 548 and Fla. Stat. §§ 726.105, 726.106, because the debtor transferred tangible assets in exchange for the defendant's assumption of debtor's title insurance policy liabilities.
Trustee Deborah J. Caruso for the bankruptcy estates of ITT Educational Services, Inc., ESI Service Corp., and Daniel Webster College, Inc. sued Defendant John Wiley & Sons, Inc. to recover alleged preference payments from the Defendant under § 547 of the Bankruptcy Code.
A Texas Court ruled in the favor of a debtor, holding that alleged cash transfer constituted a fraudulent transfer under 11 U.S.C.S. § 548(a)(1)(A) and TUFTA, as the affirmative defense of reasonably equivalent value or good faith was not shown.