July 2, 2021 roland jones

Trustee Cary Glickstein Charges Bonaventure 22 for $ 1.1M in Alleged Fraudulent Transfers, Argues That 160 Royal Palm Purportedly Mislead Foreign Investors At the Direction of Its Principal

Cary Glickstein, solely in his capacity as the liquidating trustee of 160 Royal Palm, LLC files a complaint against Bonaventure 22, LLC alleging that the Debtor, acting at the direction of its principal Matthews, transferred at least $1,150,000 of the Debtor’s funds to or for the benefit of the Defendant.

June 30, 2021 roland jones

Center City Healthcare Sues HRE Capital, LLC f/k/a Healthcare Real Estate LLC For $3Million in Alleged Fraudulent Transfers

Plaintiffs Center City Healthcare, LLC d/b/a Hahnemann University Hospital and SCHC Pediatric Associates, LLC recently sued Defendant HRE Capital, LLC f/k/a Healthcare Real Estate LLC for avoidance and recovery of alleged fraudulent transfers worth $3Million in the bankruptcy case of Center City Healthcare, LLC.

June 29, 2021 roland jones

New Adversary Proceedings Initiated in Quality Tile & Marble Distributors, LLC Bankruptcy

Trustee Jacqueline Calderin for the bankruptcy estate of Quality Tile & Marble Distributors, LLC recently initiated about 20 clawback actions to avoid and recover fraudulent transfers worth over $600k from several creditors.

June 29, 2021 roland jones

Clawback Actions Initiated in Center City Healthcare, LLC Bankruptcy

Last week, Plaintiffs Center City Healthcare, LLC d/b/a Hahnemann University Hospital and SCHC Pediatric Associates, LLC commenced over 100 adversary actions for avoidance and recovery of transfers under §§ 547, 548 & 550 of the Bankruptcy Code in the bankruptcy case of Center City Healthcare, LLC d/b/a Hahnemann University Hospital, et al.

June 28, 2021 roland jones

Breakwater Credit Opportunities Fund & Others Move for Partial Summary Judgment On Plaintiff’s Complaint to Recover $1M For Alleged Breach of Fiduciary Duty & Fraud in Old LC, Inc., et al Bankruptcy

Last week, Defendants Breakwater Credit Opportunities Fund, L.P. and others moved for partial summary judgment on the complaint brought by Official Committee of Unsecured Creditors of Old LC, Inc., et al for avoidance of preference and fraudulent transfers worth $ 1 million.

June 28, 2021 roland jones

Claims Worth $76M Bought by Citigroup Financial in LATAM Airlines Bankruptcy

Citigroup Financial Products recently bought two more bankruptcy claims worth $76 million in the LATAM Airlines Group SA bankruptcy.

June 26, 2021 roland jones

McAnney Brothers File a Motion to Dismiss BG Petroleum Trustee’s Complaint, Alleges Complaint Has No Factual Allegations & is Speculative

McAnney Brothers, Inc. recently filed a motion to dismiss Trustee Lisa M. Swope and Timco Ltd’s complaint in the bankruptcy case of BG Petroleum, LLC.

June 25, 2021 roland jones

Aventura Hotel Properties & Triptych Miami Holdings Seek to Recover $13 Million Allegedly Paid From a Debtor’s Assets To QR Triptych & JQ Real Estate

Debtors Aventura Hotel Properties, LLC and Triptych Miami Holdings, LLC sued Defendants QR Triptych, LLC and JQ Real Estate, LLC to avoid transfers worth $13 million according to Section 544 of the Bankruptcy Code and Section 726.105(1)(b), Florida Statutes.

June 24, 2021 roland jones

Trustee James A. Overcash Sues Rojana Enterprises To Recover Alleged Fraudulent Transfer of A Real Property in Pinnacle Regional Hospital’s Bankruptcy Case

Plaintiff James A. Overcash, as a Chapter 7 Trustee of Rojana Realty Investments, Inc. sues Rojana Enterprises, Inc. to avoid and recover fraudulent transfers of real property pursuant to sections 502, 548 and 550 of the Bankruptcy Code.

June 24, 2021 roland jones

Gold Depot Seeks Dismissal of Donna Lieberman’s Complaint to Recover $9.9 M as Clawback Transfers in Miami Metals I, Inc. Case

Last week, Defendant Gold Depot, Inc. filed a motion under Rule 7012 of the Federal Rules of Bankruptcy Procedure to dismiss an adversary action filed by Donna Lieberman in her capacity as a litigation trustee of the Miami Metals Litigation Trust to avoid and recover clawback transfers and disallow claims.

June 23, 2021 roland jones

Michael L Einterz of Einterz and Einterz Appointed as a Special Counsel in Gudorf Supply Company, Inc. Bankruptcy

The United States Bankruptcy Court for Southern District of Indiana recently approved the employment and retention of Michael L Einterz of Einterz and Einterz as a special counsel to the Gudorf Supply Company, Inc. in its bankruptcy case

June 22, 2021 roland jones

Northern District of Illinois – Focus of Inquiry Regarding Reasonably Equivalent Value Must Be On A Specific Transfer That A Trustee Seeks to Avoid Rather Than On Analysis of The Transaction’s Overall Value To A Debtor

An Illinois Judge dismissed a trustee’s complaint because the trustee failed to allege facts to support the element of lack of reasonably equivalent value.

June 19, 2021 roland jones

McNider Marine Trustee Brings a Lawsuit Against Multiple Defendants to Recover $600K Allegedly Paid Under a Forbearance Agreement

Trustee Terrie S. Owens for the bankruptcy estate of McNider Marine, LLC & John Brice McNider accuses Cain & Daniels, Inc., Keersten Heskin Martine, and multiple other defendants to turnover the amounts previously paid and received pursuant to a judgment in a lawsuit and under a forbearance agreement.

June 17, 2021 roland jones

About 198 Clawback Actions Initiated in Exide Holdings, Inc. Bankruptcy

Trustee Peter Kravitz for the GUC Trust of Exide Holdings, Inc. recently commenced one hundred and ninety eight clawback actions against several creditors to avoid and recover alleged preferential transfers and fraudulent conveyances pursuant to sections 547, 548 and 550 Bankruptcy Code.

June 17, 2021 roland jones

Citigroup Financial Products, Inc. Acquires $31 Million Claim in Latam Airlines Group Bankruptcy, Files a Transfer Agreement

Citigroup Financial Products, Inc. files a transfer agreement pursuant to FRBP 3001(e) (2) evidencing transfer of a general unsecured claim worth $31,729,749.00 (Claim Number 1824) from Banco Santander – Chile in Latam Airlines Group, S.A.

June 15, 2021 roland jones

Rackwise Inc. & Rackwise Funding Moves to Dismiss Trustee Kapila’s Complaint Allegedly Seeking to Clawback Over $38M Towards Damages, Breach of Contract & as Preference & Fraudulent Transfers

Earlier this month, Defendants Rackwise, Inc. and Rackwise Funding II, LLC, moved for dismissal of a complaint filed by Plaintiff, Soneet R. Kapila, as Chapter 7 Trustee for the substantively consolidated bankruptcy estate of Richert Funding, LLC, Dwight Donald Richert and Holly Berry Richert under Rule 12 of the Federal Rules of Civil Procedure, as adopted by Fed.R.Bankr.P. 7012.

June 15, 2021 roland jones

An IIlinois Bankruptcy Court – A Corporate Fiduciary Need Not “Give Up” His Contractual Rights To His Detriment To Fulfill His Fiduciary Duty

The Court dismisses Trustee's fraudulent transfers and breach of fiduciary duty claims because neither could the trustee prove a transfer, nor breach of duties.

June 15, 2021 roland jones

Argo Partners Acquire Claims Over $100M in An Artificial Intelligence Chip Designer’s Bankruptcy Case

Several creditors filed transfer agreements with the United States Bankruptcy Court for Northern District of California, recording assignment of their claims against an artificial intelligence chip start-up Wave Computing Inc. to a New York City investment firm.

June 14, 2021 roland jones

Labsource Trustee Brings A Fraudulent Action Against Luxor Scientific, Innovative Scientific Solutions & Others

Trustee John K. Fort for the bankruptcy estate of Labsource, LLC brings a lawsuit against a clinical laboratory, a scientific consulting firm, and a few others for an alleged actual and constructive fraud under Sec. 548 of the Bankruptcy Code.

June 14, 2021 roland jones

Tex-Gas Holdings Accuses Multiple Defendants of Alleged Fraud and a Breach of Contract In a Transaction Involving $30M Revolving Loan

Tex-Gas Holdings, LLC brings a lawsuit against two foreign individuals, a British Virgin Island company and three others, seeking a declaratory judgment to resolve a $30 million dispute between the parties regarding defendants’ failure to abide by their financing obligations under a promissory note, loan agreement, and a deed of trust.