Clawback Actions Commence in Red Rose, Inc.
September 20, 2021, District of Nevada – Plaintiff ACF Finco I, LP initiates about twelve clawback actions in the bankruptcy case of Red Rose, Inc. et al. The Plaintiff seeks to avoid and recover alleged preferential transfers worth $1.9M from these twelve creditors under Sections 547 and 550 of the Bankruptcy Code.
The five largest cases in the group, so far are filed against :
|1||JR Metal Express, Inc.||371,935.26|
|2||Sombrilla Roofing LLC||360,085.60|
|3||Silfab Solar USA Inc.||267,904.00|
|4||Natural Concepts Marketing Group Inc.||150,000.00|
|5||Southern Counties Oil Co.||146,418.25|
Last year, on June 11, 2020, Red Rose, Inc. along with its fifteen affiliates filed voluntary petition for reliefs under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Nevada. The cases are jointly administered under case number : BK-S-20 12814-mkn. Honorable Judge Mike K. Nakagawa is overseeing the Debtors’ bankruptcy cases. Bankruptcy Recovery Group, LLC is representing the Plaintiff.