Trustee Robert Michaelson Seeks $3.7M From Cardinal Health as Alleged Preferences in the Bankruptcy Case of Promise Healthcare Group, LLC, et al
August 30, 2021, District of Delaware – Plaintiff Trustee Robert Michaelson of Advisory Trust Group, LLC of the Promise Healthcare Group Liquidating Trust for the bankruptcy estate of Debtors Promise Healthcare Group, LLC, et al, brings a complaint for avoidance and recovery of preferential transfers pursuant to 11 U.S.C. §§ 502(d), 547 & 550 against Defendant Cardinal Health 110, LLC f/k/a Cardinal Health, Inc.
Headquartered in Dublin, Ohio, Cardinal Health, Inc. is a distributor of pharmaceuticals, a global manufacturer and distributor of medical and laboratory products, and a provider of performance and data solutions for healthcare facilities. Allegedly, during ninety (90) days prior to the Debtors petition date, the Debtors made payments worth $3,790,673.28 to or for the benefit of the Defendant, for goods and/or services provided to the Debtors pursuant to invoices or statements submitted by Defendant to the Debtors. The Trustee seeks to recover these payments as alleged preferences.
As per the complaint, the Defendants have also filed about 23 claims against the Debtor, asserting their right to payment allegedly owed by one or more of the Debtors. The Trustee seeks to disallow these 23 claims of the Defendant in accordance with Section 502(d) pending payment by the Defendant to the Trustee of any avoidable and recoverable transactions in their entirety.
The case is In re Promise Healthcare Group, LLC, et al in the United States Bankruptcy Court for the District of Delaware being jointly administered under Case no. 18-12491(CSS). Honorable Christopher S. Sontchi is overseeing the Debtors’ bankruptcy case.