New Adversary Proceedings To Clawback Transfers Initiated in Epic Companies, LLC Bankruptcy
August 25, 2021, Southern District of Texas – Jeffrey T. Varsalone, as the Liquidating Trustee for Epic Companies, LLC Trust commences about thirty-one (31) adversary proceedings against several defendants, seeking to avoid and recover certain pre-petition transfers as preferences pursuant to sections 547 and 550 of Chapter 5 of title 11 of the Bankruptcy Code.
Epic Companies, LLC and certain of its affiliates and subsidiaries, as debtors and debtors in possession (collectively, the “Debtors”) formed a full-service provider to the global decommissioning, installation, and maintenance markets headquartered in Houston, Texas. The Debtors’ services included heavy lift, diving, and marine, specialty cutting, and well plugging and abandonment services.
Some of the largest cases in the group against whom the Debtors have initiated lawsuits include – C-Mar America Inc., McGriff, Seibels & Williams, Inc., Proserv Subsea & Marine Technology, Inc., US Coatings, LLC for return of $1,020,767.35, $ 909,779.79, $ 400,000, $375,143, $250,000 respectively.
The Debtors filed for bankruptcy two years ago on August 26, 2019. The Debtors’ cases are jointly administered for procedural purposes under Case No. 19-34752 in United States Bankruptcy Court for the Southern District of Texas, Houston Division. Honorable David R Jones is overseeing the Debtors’ cases. Porter Hedges LLP is representing the Trustee in the bankruptcy case.