Twenty Defendants Including Moodys and Scoppechio Face Clawback Suit in NPC International Bankruptcy Case
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June 28, 2022, US Bankruptcy Court for Southern Texas – NPC International GUC Trust (“Plaintiff”) files adversary proceedings against twenty Defendants to clawback alleged “preferential and/or fraudulent transfers” and to disallow any claims held by Defendants against any of the Debtors in the bankruptcy case of NPC International, Inc. et al.
The complaint alleges that during the ninety days before the filing of bankruptcy petition, the Debtors continued to operate their business affairs, including the transfer of property, either by checks, cashier checks, wire transfers, ACH transfers, direct deposits or otherwise to various entities.
The principal allegation of the Plaintiff is that the Defendants entered into agreements with one or more of the Debtors and allegedly received payments pursuant to these agreements during the preference period. The Plaintiff Trust seeks to avoid these alleged payments pursuant to 11 U.S.C. § 547(b).
Alternatively, the Plaintiff also pleads that the transferring Debtor(s) allegedly did not receive reasonably equivalent value in exchange for such transfer(s) and seeks to avoid these transfers as “potentially fraudulent transfers” pursuant to 11 U.S.C. § 548(a)(1)(B).
The Defendants include Coolsys Commercial and Industrial Solutions, Inc.; Moodys Investor Service, Inc.; Polymershapes, LLC; and Scoppechio, LLC among others. Scoppechio, LLC has the largest claim amount against it: $1,661,539.15.
In re NPC International, Inc. et al, AP No. 20-33353, US Bankruptcy Court for Southern Texas