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.

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.

Cipla, Inc. Sued for Damages Based On Its Alleged Submission and Subsequent Repudiation of Irrevocable Bids to Purchase Assets From Achaogen, Inc.

Trustee Edward E. Niger as Plan Trustee of Achaogen Plan Trust for the bankruptcy estate of Debtor Achaogen, Inc. brings an action against Defendant Cipla, Inc. for damages based on Cipla’s alleged submission and subsequent repudiation of irrevocable bids to purchase certain assets from the Debtor while Debtor was in bankruptcy.

META Advisors LLC Files Motion for Summary Judgment Against a Hong Kong Based Company Engaged in Design and Development of Portable Lighting Products, Seeks $93k in Alleged Preferences

Earlier last week, META Advisors LLC on behalf of G-Estate Management Company, Inc. (f/k/a Gordmans Management Company, Inc.) moved for summary judgment under Rule 56 of the Federal Rules of Civil Procedure against Mastercraft International Limited on the Plaintiff’s alleged claims under 11 U.S.C. §§ 547, 550 and 502 of the Bankruptcy Code.
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