New Opinions

May 12, 2022 roland jones

Ford Motor’s Motion to Compel Trustee Too “Burdensome”, Holds a Texas Bankruptcy Court

Defendant Ford Motor Credit recently filed a motion to compel Trustee Dennis Faulkner, for the bankruptcy estate of Reagor Dykes Motors, LP, to respond to its requests for interrogatories and production of documents.

May 6, 2022 roland jones

District Court Approves Trustee’s Use of Net Investment Method In Calculating Net Equity of the Customers in the Madoff Ponzi Scheme

The District Court for the Southern District of New York has held in favor of the Trustee’s motion to avoid and recover “approximately $16,880,000 that was transferred by BLMIS (Bernard L. Madoff Investment Securities LLC) to the entity defendants, Sage Associates and Sage Realty (“Sage Accounts”), in the two years prior to BLMIS’s filing for bankruptcy.

May 3, 2022 roland jones

“What the Debtor Surrendered and What the Debtor Received” Is the Focus of Fraudulent Transfers Analysis; Holds Hawaii Bankruptcy Court

Pacific Links U.S. Holdings, Inc., et al. in this adversary proceeding sought to avoid, as “constructively fraudulent”, certain guaranties and mortgages that they granted to defendant Tianjin Dinghui Hongjun Equity Investment Partnership (Limited Partnership) (“TDH”). Plaintiffs sought partial summary judgment determining that they did not receive reasonably equivalent value in exchange for those obligations and transfers.

April 25, 2022 roland jones

Fiduciary Obligations Set Forth Under the Trust Fund Theory Are Limited to Corporate Directors and Officers

The Bankruptcy Court for the District of South Carolina granted in part the motion to dismiss filed by the Defendants McGuireWoods, LLP ("MGW"), Mark Freedlander, and David Pivnick seeking to dismiss the complaint filed against them by the Debtor Oaktree Medical Centre, P.C.

March 30, 2022 roland jones

Illinois Bankruptcy Court Permitting Recovery of Transfers Made for the Benefit of Debtor’s Controlling Shareholders

The Bankruptcy Court for the Central District of Illinois has allowed Sheldon Stone, the Trustee for the debtor International Supply Co. (ISCO), to avoid and recover transfers in the amount of $ 1,720,000 made "from International Supply Co. to Citizens Equity First Credit Union (CEFCU)" on behalf of Lee Hofmann.

March 18, 2022 roland jones

New York District Judge Tosses Plaintiffs’ Fraud & Conspiracy Charges in Wade Park Land Holdings

The Court ruled that the integration clause in the subsequent agreement cannot be read to revive the released claims because the forbearance agreements contained broad releases.

March 18, 2022 roland jones

Georgia Court Nixes Trustee’s Motion For Summary Judgment Holding that Factual Disputes Must Be Heard For Evidence

The Court held that such dispute over the facts calls for the Court to hear evidence as to whether payments made to the defendant during the preference period were in keeping with the defendant's ordinary business dealings with Debtor.

March 18, 2022 roland jones

Madoff Trustee Wins Summary Judgment to Clawback $3.8 Million Received by Ken-Wen Family Limited Partnership

The Court concluded that the Trustee proved the elements of Section 548(a)(1)(A) of the Bankruptcy Code.

March 10, 2022 roland jones

Delaware Court Rules in Favor of Defendant On Ordinary Course of Business Defense

The Court determined that reliance on the average payment time may not portray the complete picture of the parties' transaction history.

March 2, 2022 roland jones

Factual Allegations in Trust’s Complaint Not Sufficient to Deny Defendant’s Motion to Dismiss

The Court found that the allegations of the complaint did not include factual allegations raising a right to relief above the speculative level and failed to state claims for relief that are plausible on their face.