Secured Creditor Buys Preference Claims in Nevada 363 Sale, Sues 32 Defendants
May 27, 2022, US Bankruptcy Court for the District of Nevada – ACF Finco I LP seeks to clawback alleged preferential transfers made by certain Debtors to Redwood Fire and Casualty Company in the bankruptcy case of Red Rose, Inc., et al.
ACF Finco I, LP is a creditor of one or more of the Debtors in the Red Rose bankruptcy case. On November 16, 2020, the Bankruptcy Court granted Debtors’ motion for approval of compromise by and among Debtors, ACF Finco I, LP and the Official Committee of Unsecured Creditors. This settlement allowed Petersen-Dean and PD Solar, Inc. to transfer certain of their claims to ACF Finco I, LP.
ACF Finco I, LP uses the claims transferred to it by Petersen-Dean to bring adversary proceedings against 32 Defendants. The complaints have been filed to avoid and recover alleged preferential transfers made to these Defendants. The adversary proceeding brought against Redwood Fire and Casualty Company seeks to avoid and recover $998,964.79.
ACF Finco I LP v. Redwood Fire and Casualty Company (In re Red Rose, Inc. et al.) AP No. 22-1074, US Bankruptcy Court for the District of Nevada.