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Home New Cases Jupiter MLP Trustee Ushers-in 18 Clawback Actions, Eyes $5.5M in Alleged Preference and Fraudulent Transfers

Jupiter MLP Trustee Ushers-in 18 Clawback Actions, Eyes $5.5M in Alleged Preference and Fraudulent Transfers

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January 28, 2022, Northern District of Texas – Trustee Daniel J. Sherman for Jupiter MLP, LLC commences eighteen (18) clawback lawsuits against several defendants to avoid and recover $5,502,244.97 as alleged preferential and fraudulent transfers of property under Bankruptcy Code Sections 547, 550, 544, 548 and 550. The Trustee also seeks to avoid and recover post-petition transfers of interest in the property under Sections 549 and 550 and disallow any proofs of claim filed by defendants under Section 502.The most significant cases in the group include :

Defendant Debtor Amount of Claim ($)
CTCI Americas, Inc. JupiterMLP, LLC 1,004,146.5
Atlas Oil Company JupiterMLP, LLC 861,000
Axens North America, Inc. JupiterMLP, LLC 800,000
Brownsville Navigation District of Cameron County, TX JupiterMLP, LLC 609,466.52
RPS Group, Inc. JupiterMLP, LLC 426,044.2

By way of background, an involuntary petition was filed against the Debtor in the United States Bankruptcy Court for the Northern District of Texas under Chapter 7, Title 11 of the Bankruptcy Code on August 30, 2019. The Debtor initially opposed the involuntary petition but later consented to the same, and an agreed order for relief was entered by the Court on January 29, 2020. Honorable Judge Stacey G. Jernigan is presiding over the Debtor’s bankruptcy cases. The law firm of McGuire Craddock & Strother P.C. represents the Trustee. The case is In re JupiterMLP, LLC, jointly administered under Case no. 19-32800.

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