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Comerica Bank Faces $10.2M Claw Back in Girardi Keese Bankruptcy

Elissa D. Miller, the chapter 7 trustee (“Trustee”) for the estate of Girardi Keese (“Debtor”), sues Comerica Bank (“Defendant”) to claw back more than $10 million as alleged fraudulent transfers made by the Debtor to Defendant during the seven-year period before Girardi Keese’s bankruptcy filing.

Seventh Circuit Overrules 1984 Precedent of Defining Bankruptcy ‘Transfer’

The Seventh Circuit Court of Appeals overruled its 1984 definition of preferential ‘transfer’ laid down in In re Coppie, 728 F.2d 951 (7th Cir. 1984). The Court made the decision addressing a transfer of money made during the preference period pursuant to a garnishment order.

New Hampshire BK Court Upholds Race-Notice Rule to Decide Priority of Lien

The New Hampshire Bankruptcy Court decided a priority dispute between a contractor’s mechanic’s lien and a lender’s mortgage in the bankruptcy case of Prospect-Woodward Home (“Debtor”).

Debtor Sues Former Chief Restructuring Officer for Breach of Fiduciary Duty

Coal Network, LLC (“Debtor”) brings an adversary proceeding against Hillyer Group LLC, as a consultant (“Hillyer Group”) and John T. Hillyer, as the former chief restructuring officer (“Mr. Hillyer”) of the Debtor.

Liquidators Seek Claw Back of $700M for Alleged Fraud

Rachelle Frisby and John Johnston, the Joint Provisional Liquidators (“Liquidators”) for PB Life and Annuity Co., Ltd., Northstar Financial Services Ltd., Omnia Ltd., et al., (“Debtors”), sue Global Growth Holdings, Inc., Greg Evan Lindberg and his affiliates and “co-conspirators”

Celsius Clawback Apocalypse!

A bankruptcy lawyer discusses the potential clawback threats from the Celsius bankruptcy.

Girardi Keese Trustee Files a Cluster of Lawsuits to Clawback Millions

Elissa D. Miller, as chapter 7 trustee (“Trustee”) for the estate of Girardi Keese (“Debtor”), has filed more than fifty complaints in the past two weeks against several Defendants.

Energy Company Seeks to Wrest Asset Sale Proceeds from Trustee

EnLink Midstream Operating, LP (“Plaintiff”) files an adversary complaint against Christopher Murray, in his capacity as Chapter 7 trustee (“Trustee”) for South Texas ELV, LLC (“Debtor”), and Hedrick Holdings, LP (“Defendants”).

American Express Moves BK Court to Dismiss 548 Transfer Claim

American Express National Bank files a 12(b)(6) motion in the Tennessee Bankruptcy Court to dismiss the fraudulent transfer complaint of Erica R. Johnson, the Trustee for Debtor Falcon Press, LLC (“Debtor”).

Construction Company Loses Breach of Contract Bid Against Lenders

The Connecticut Bankruptcy Court denied Dennis Group’s summary judgment motion on the allegations of breach of contract and fraud against People’s United Bank, N.A., and B.M.O. Harris Bank, N.A.