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).
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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”)
Fifth Circuit — Foreclosures are Transfers
The Fifth Circuit Court of Appeals allowed a creditor to avoid a senior lien on a property purchased and foreclosed by the property owner, holding that the foreclosure was “fraudulent” as to the creditor under the Texas Uniform Fraudulent Transfer Act (“TUFTA”)
District Court OK’s Bankruptcy Court’s Ordinary Course Holding
The Eastern New York District Court affirmed the Bankruptcy Court’s judgment that allowed the “ordinary course of business” defense to the Defendants against the preference claims made by Bryan Ryniker
Delaware BK Court — No Need for Badges of Fraud Where Direct Inference is Available
The Delaware Bankruptcy Court denied the motion filed by Mark Siffin (“Defendant”) to dismiss the Trustee’s adversary complaint against Mark Siffin. RPA Asset Management Services, LLC is the duly appointed Trustee of the MDC Litigation Trust
North Carolina BK Court Dismisses with Requirement of Invoice Details at Motion to Dismiss Stage
The North Carolina Bankruptcy Court granted in part and denied in part the motion brought by Defendant Moses H. Cone Memorial Hospital Operating Corporation (“Cone Health” or “Defendant”) to dismiss various claims maintained in the complaint
Delaware BK Court Grants Leave to Amend Complaint For Failing to State Claims
The Delaware Bankruptcy Court granted in part Defendants’ motion to dismiss the fraudulent transfer claims of George L. Miller, the Chapter 7 trustee (“Trustee”) for Bayou Steel BD, LLC et al (“Debtors”).
District Court Reverses: BK Erred in Dismissing Malpractice Claim
The US District Court for Southern New York granted the appeal filed by Jae Ho Lee (“Lee”), his wife Soyoun Park (“Park”) and Basic Food Groups, LLC (the “Debtor”) against the summary judgment made by the Bankruptcy Court in favor of Defendants Ahne Law, P.C.
Delaware Judge Rejects D&O’s MTD
The US Bankruptcy Court for Delaware denied Defendants’ motion to dismiss the claim for breach of fiduciary duty alleged by Alfred T. Giuliano, the Chapter 7 trustee (“Trustee”) for bankruptcy estates of Nobilis Health Corp. et al.
Unpaid New Value Stays Unpaid Even When Later Paid Post Petition–11th Cir
The Eleventh Circuit Court of Appeals reversed the Bankruptcy Court’s order which had denied Auriga Polymers Inc. (“Defendant”) to offset its preference liability against the new value Auriga provided to Beaulieu Group, LLC
