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.
Permian Crude Transport Trustee Indicts a Dallas-Based Energy Company for Alleged Fraudulent Payments Worth $11M
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 GenCanna Sues Creditors For Unpaid Hemp Products, Seeks to Recover $1.7M For Alleged Unjust Enrichment and Breach
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.
Trustee Allan B. Mendelsohn Seeks a Declaratory Judgment to Recover Alleged Fraudulent Transfers in SRS Capital Bankruptcy Case
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.
A Florida Court Rules in Favor of a Title Insurance Company Because Plaintiff Failed to Meet His Burden of Proof on Issue of Reasonably Equivalent Value
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.
An Indiana Court Permits ITT Educational Services Trustee to Clawback About $200k Preference Transfers from a Leading Publishing Company
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.
An Involuntary Transfer of a Title to a Farm is Constructively Fraudulent, Debtor Did Not Receive Fair Market Value
At issues was - Whether Defendant provided reasonably equivalent value to a Debtor by satisfying tax lien in exchange for a transfer of absolute title to a farm.
Sections 546 (e) and 561 (d) Are Limited to Avoidance Claims, Do Not Explicitly Bar Foreign Common Law Claims.
The Court stated that Sections 546(e) and 561(d) are limited to avoidance claims and do not explicitly bar foreign common law claims even if they seek the same relief.