More Than 40 Adversary Proceedings Initiated in Bankruptcy Case of National Fish and Seafood, Inc.
May 27, 2021, District of Massachusetts – Plaintiff John O. Desmond, Chapter 7 Trustee of the bankruptcy estate of National Fish and Seafood, Inc. (the “Debtor”) sues about 42 defendants for return of approximately $2 million, allegedly made by the Debtor under §§ 547 and 550 of the Bankruptcy Code.
Some of the largest cases in the group include – NSJD Real Estate, LLC for return of $ 3,00,000.00 Goal Line Foods LLC for $ 190,636.00, and Massachusetts Electric Company for the avoidance of $ 165,141.40. in its complaints, the Trustee alleges that the defendants were the “initial transferees of the preference payments” and the entities “for whose benefit” the preference payments were made. Further, the Trustee adds that the alleged “preference payments constitute preferential transfers” of property within the meaning of 11 U.S.C. § 547(b).
Two years ago, NFS filed a voluntary petition under Chapter 7 of the Bankruptcy Code on May 29, 2019. The case is In re National Fish and Seafood, inc. under case no. 19-11824-FJB in United States Bankruptcy Court for Eastern District of Massachusetts. Honorable Judge Frank J. Bailey is overseeing the Debtor’s bankruptcy case.