Home New Cases Dean Food Company Liquidating Trust Trustee Seeks To Avoid $1M From 3MD as Alleged Preference and Fraudulent Conveyances

Dean Food Company Liquidating Trust Trustee Seeks To Avoid $1M From 3MD as Alleged Preference and Fraudulent Conveyances

0
0
Print

July 15, 2021, Southern District of Texas – Trustee Daniel H. Golden of the DFC Liquidating Trust hauls 3MD Inc. dba Denali Advanced Integration into court to avoid and recover $1,103,998 as “preferential transfers” and “fraudulent conveyances”. 

By way of background, the Debtors Dean Food Company were a leading food and beverage company and the largest processor and direct-to-store distributor of fresh fluid milk and other dairy and dairy case products in the United States. The financial difficulties that led to the Debtors’ decision to file the chapter 11 cases were allegedly attributable to a combination of industry-wide and company-specific factors and events. On an industry-wide basis, demand for milk had fallen approximately 2% year-over-year in North America for the 10 years leading up to the petition date. Shrinking consumption of fluid milk and slim margins made things further difficult for conventional milk processors like the Debtors 

ASK LLP is representing the Trustee in the Debtors’ bankruptcy case. The case is In re Deans Food Company, et al in the United States Bankruptcy Court for Southern District of Texas under Case No 19-36314

FacebookTwitterLinkedInShare

onebowlinggreen.com