ESB Holdings Sued For $1.1M in Grinding Specialists Bankruptcy
December 6, 2021, District of South Carolina – Robert F. Anderson for the substantively consolidated bankruptcy estates of Grinding Specialists, LLC and Grinding Specialists of the Carolinas, LLC (“Grinding Specialists”) initiates an adversary proceeding against ESB Holdings, LLC to recover about $1,180,349.00 as alleged “fraudulent transfers.“
Anderson argues that Grinding Specialists allegedly transferred $1,180,349.00 to ESB two years before its bankruptcy and “received less than reasonably equivalent value in exchange” for the said transfers. Anderson claims that Grinding Specialists did not owe any obligation to ESB and allegedly received no benefit from the transfers at issue. Anderson further argues that “insiders” of Grinding Specialists “did owe money” to ESB, and the transfers were allegedly for the “benefit of the insiders” and “not for the benefit of the Grinding Specialists.”
Accordingly, Anderson seeks an order setting aside the alleged transfers and urges the Court to enter a judgment against ESB for $1,180,349.00 together with pre-and post-judgment interest.
In re Grinding Specialists, LLC, Case No. 18-05225