New Opinions

January 28, 2023 roland jones

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.

January 28, 2023 roland jones

Puerto Rico BK Court Holds Foreclosure Judicial Sale Not a Preference

Puerto Rico Bankruptcy Court dismissed the preference and fraudulent transfer allegations made by BLD Realty, Inc. (“Debtor”) against Latin Investment Corp., et al., (“Defendants”).

January 27, 2023 roland jones

NY BK Court Disallows Defendants to “Manufacture” Claims at Motion Stage

The Bankruptcy Court for Southern New York denied a motion filed by Jason Stone and KeyFi, Inc. (“Defendants”), which sought to dismiss Celsius Network’s complaint against them. Celsius’s complaint alleged that Celsius entrusted the operation of its cryptocurrency “staking” activities to Jason Stone in 2020

January 27, 2023 roland jones

NY District Court Refuses to Hold Debtor Liable for Alleged Breach of Subsidiary’s Contract

The District Court for Southern New York affirmed a decision of the Southern New York Bankruptcy Court which had dismissed Zelig Weiss’s complaint against Debtor All Year Holdings Ltd. and its subsidiary YGWV.

October 4, 2022 roland jones

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).

October 4, 2022 roland jones

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”)

October 4, 2022 roland jones

Fifth Circuit Says 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”)

October 4, 2022 roland jones

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

October 4, 2022 roland jones

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

October 4, 2022 roland jones

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