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Home New Cases The Alleged $4M ‘Fraudulent Transfer Heist’ of Oaktree Medical Centre

The Alleged $4M ‘Fraudulent Transfer Heist’ of Oaktree Medical Centre


September 17, 2021, District of South Carolina – Trustee John K. Fort for the bankruptcy estate of Debtor Oaktree Medical Centre, PC (“OMC”) charges multiple defendants for alleged breach of fiduciary duty, violation of unfair trade practices, fraud, unjust enrichment, and fraudulent transfers.

OMC was a private pain management practice. Defendants were engaged as third-party officers, restructuring consultants, and professionals for the Debtor and its two sister entities. Specifically, the Defendants were hired to fix OMC as it was failing to pay its debt. The Trustee alleges that during their tenure, the Defendants succeeded only in paying themselves and substantially increasing the Debtor’s unsecured debt. Further, even with complete financial, operational, and fiduciary control, the Defendants purportedly did not attempt to coordinate a sale or refinance of the Debtors or begin a corporate restructuring. Additionally, the Trustee argues that the Defendants paid out over $4 million in professional fees to themselves and those they utilized to perpetuate their fraud.

Through his complaint, the Trustee requests the Court to enter judgment in his favor and against Defendants, awarding actual, general, compensatory, incidental, exemplary, punitive, and consequential damages for Defendants’ willful, malicious, wanton, or reckless conduct. The Trustee also seeks to void the $4M fraudulent transfer, allegedly made from the Debtors to Defendants.


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