Crude Transport Trustee Seeks Partial Summary Judgment On Its $11.6M Claim
September 23, 2021, Northern District of Texas – Trustee Daniel J. Sherman of the estate of Permian Crude Transport, L.P. files a motion for partial summary judgment concerning its claims against Matador Resources Company under Section 548 Bankruptcy Code and Sections 24.005(a)(2) and 24.006 of the Texas Uniform Fraudulent Transfer Act (“TUFTA”).
The Trustee argues that it has the standing to bring the TUFTA claims under the “strong-arm” provisions of Bankruptcy Code section 544(b). As alleged by the Trustee, the Debtor made transfers worth $11,593,091.30 to Matador and “received no value” in exchange. The Trustee seeks summary judgment in its favor on the defenses raised by Matador in its amended answer to the complaint and its brief. The Trustee argues that the Debtor and Jupiter are not “alter egos” or part of a single business enterprise and that Matador’s defense under TUFTA § 24.009(a) has no merit, and the Court must deny them.
In re Permian Crude Transport, LP, Case No. 19-32071