January 28, 2023 roland jones

Girardi Keese Trustee Files a Cluster of Lawsuits to Clawback Millions

Elissa D. Miller, as chapter 7 trustee (“Trustee”) for the estate of Girardi Keese (“Debtor”), has filed more than fifty complaints in the past two weeks against several Defendants.

January 28, 2023 roland jones

Energy Company Seeks to Wrest Asset Sale Proceeds from Trustee

EnLink Midstream Operating, LP (“Plaintiff”) files an adversary complaint against Christopher Murray, in his capacity as Chapter 7 trustee (“Trustee”) for South Texas ELV, LLC (“Debtor”), and Hedrick Holdings, LP (“Defendants”).

January 28, 2023 roland jones

American Express Moves BK Court to Dismiss 548 Transfer Claim

American Express National Bank files a 12(b)(6) motion in the Tennessee Bankruptcy Court to dismiss the fraudulent transfer complaint of Erica R. Johnson, the Trustee for Debtor Falcon Press, LLC (“Debtor”).

January 28, 2023 roland jones

Construction Company Loses Breach of Contract Bid Against Lenders

The Connecticut Bankruptcy Court denied Dennis Group’s summary judgment motion on the allegations of breach of contract and fraud against People’s United Bank, N.A., and B.M.O. Harris Bank, N.A.

January 28, 2023 roland jones

Puerto Rico BK Court Holds Foreclosure Judicial Sale Not a Preference

Puerto Rico Bankruptcy Court dismissed the preference and fraudulent transfer allegations made by BLD Realty, Inc. (“Debtor”) against Latin Investment Corp., et al., (“Defendants”).

January 27, 2023 roland jones

Trustee Seeks to Recover $6.5 M Fraudulent Conveyances from Alleged Insiders

Steven R. Bailey, the chapter 7 trustee (“Trustee”) of the estate of Empire Solar Group, LLC (“Debtor”), sues R&J Technical Services LLC (“RJT”), Ron Housekeeper (“Mr. Ron”), Jake Housekeeper (“Mr. Jake”) and others for an alleged fraudulent conveyance of $6.7 million.

January 27, 2023 roland jones

Investors Sue Debtor’s Alleged Insiders for Fraudulent Conduct

Pioneer Funding Group III, LLC, Pioneer Funding Group IV, LLC, and Further South, LLC (“Plaintiffs”) file an adversary proceeding against Royal Essex LLC, Royal Union Properties LLC, George F. Holman, Martha Jane Holman, Essex Real Estate Group, LLC, et al.

January 27, 2023 roland jones

NY BK Court Disallows Defendants to “Manufacture” Claims at Motion Stage

The Bankruptcy Court for Southern New York denied a motion filed by Jason Stone and KeyFi, Inc. (“Defendants”), which sought to dismiss Celsius Network’s complaint against them. Celsius’s complaint alleged that Celsius entrusted the operation of its cryptocurrency “staking” activities to Jason Stone in 2020

January 27, 2023 roland jones

NY District Court Refuses to Hold Debtor Liable for Alleged Breach of Subsidiary’s Contract

The District Court for Southern New York affirmed a decision of the Southern New York Bankruptcy Court which had dismissed Zelig Weiss’s complaint against Debtor All Year Holdings Ltd. and its subsidiary YGWV.

October 13, 2022 roland jones

Defendant Seeks Summary Judgment on Ordinary Course of Business Defense

Hemp Kentucky Growers, LLC, (“Defendant” or “HKG”) moves the Kentucky Bankruptcy Court for summary judgment against the adversary complaint filed by Oxford Restructuring Advisors, LLC (“Plaintiff”).

October 4, 2022 roland jones

Bradford Capital Buys Revlon Claims

Bradford Capital, LP, in its capacity as transferee, files evidence and notices pursuant to Rule 3001(e)(1) of the Federal Rules of Bankruptcy Procedure

October 4, 2022 roland jones

Court Says Pari Delicto Defense is Premature

The Nevada Bankruptcy Court denied dismissal of the bankruptcy Trustee’s suit against a law firm under Federal Rule of Civil Procedure 12(b)(6).

October 4, 2022 roland jones

Dismissal Gambit Against “Barebones” 548 Complaint

Defendant JMLP Management, LLC (“JMLP”) brings a 12(b)(6) motion to dismiss the complaint filed by Daniel J. Sherman, the trustee (“Trustee”) for JupiterMLP, LLC (“Debtor”). The Trustee’s complaint seeks to avoid and recover alleged transfers

October 4, 2022 roland jones

NovaWulf Picks Up $1.1M in Celsius Network Claims

NovaWulf Digital Management, LP among other transferees, files evidence and notice pursuant to Rule 3001(e)(2) of the Federal Rules of Bankruptcy Procedure

October 4, 2022 roland jones

Phoenix II Buys Unliquidated Claims in MD Helicopters

Several claimants transfer their unliquidated claims pursuant to Rule 3001(e)(2) of the Federal Rules of Bankruptcy Procedure in MD Helicopters, LLC bankruptcy

October 4, 2022 roland jones

Trustee Files Action to Clawback Alleged Non-Debtor Loan Repay

Albert Togut, solely in his capacity as the Chapter 7 Trustee (the “Trustee”) of the estate of Kossoff PLLC (the “Debtor”) makes a complaint against Defendants World Global Fund LLC (“WGF”) and Tenantracers, LLC (“Tenantracers”)

October 4, 2022 roland jones

Court Rejects Business Judgment Rule Defense to Breach of Fiduciary Duty Claim

The Court denies in part and grants in part the motion filed by Peter Tsudis (the “Defendant”) to dismiss the complaint brought by KIND Operations, Inc. (the “KIND”)

October 4, 2022 roland jones

Early Resignation Defeats 548 Action Says Former CEO

Defendant Robert Schenkkan (“Schenkkan”) moves the Bankruptcy Court of Central California to dismiss the complaint filed by Howard Grobstein, the Chapter 7 trustee (“Trustee”) for BTL Machine (“Debtor”). The motion is filed under Federal Rule of Civil Procedure 12(b)(6)

October 4, 2022 roland jones

Chapter 11 Plan Buyer Sued for Allegedly Not Remitting the Payment to the Debtor

Allan B. Mendelsohn, the chapter 7 trustee (the “Trustee”) for Catch 22 Liny Corp. (the “Debtor”) brings an adversary proceeding against Starfish Investors, LLC

October 4, 2022 roland jones

Harvard Law School: “The Texas Two-Step: The Code Says it’s a Transfer”*

July 19, 2022 - Harvard Law School: “The Texas Two-Step: The Code Says it’s a Transfer” (Authors: Mark Roe and William Organek)