Trustee Ellen Arvin Kennedy as a Liquidating Trustee of the Cambrian Liquidating Trust for the bankruptcy estate of Cambrian Holding Company, et al brings clawback actions against thirteen defendants to avoid and recover alleged preference and fraudulent transfers under 11 U.S.C. §§ 547, 548 and 550 of the Bankruptcy Code.
Honorable Judge Kathy Surratt States Approves the Appointment of Rourke Law, LLC as a Special Counsel in Rolling Hills Apartments LLC Bankruptcy
The United States Bankruptcy Court for Eastern District of Missouri has recently approved the application of Rolling Hills Apartments, LLC for entry of an order authorizing the employment of Rourke Law, LLC as a special counsel for the Debtor.
Trustee Rodney D. Tow Moves to Dismiss Complaint Against a Luxurious Casino Resort on the Gulf Coast
Trustee Rodney D. Tow for the bankruptcy estate of Debtor Abousaoui Financial, LLC recently filed a motion to dismiss a complaint against Defendant Golden Nugget Lake Charles, LLC in a Texas Bankruptcy Court.
Trustee Steven Weiss Accuses its President Of Alleged Breach of Fiduciary Duty, Conversion, and Turn Over Of Property
rustee Steven Weiss for the bankruptcy estate of Troiano Trucking, Inc. & Troiano Realty, LLC recently initiated an adversary proceeding against two individual defendants, seeking damages for breach of fiduciary duty, for conversion and turn over of property of the bankruptcy estate.
Real Estate Developer 1121 Pier Village Sues Multiple Defendants for Alleged Unregulated Lending Practices, Seeks More Than $ 5Million in Mortgages and Loans
Debtor-Plaintiff 1121 Pier Village LLC and its four affiliates brought an adversary complaint against multiple defendants for avoidance and recovery of certain mortgages, loans, and forbearance agreement under Sec. 544, 548, and 550 of the Bankruptcy Code.
A Connecticut Court Denies Defendants’ Motion To Dismiss, Alleged Assets Were Transferred For Less Than Reasonably Equivalent Value
The Court denies a defendants’ motion to dismiss because trustee sufficiently supports its constructively fraudulent claims with plausible facts.
Bankrupt Oil Field Equipment and Service Provider OFS International LLC Sues a Cyprus-Registered Steel Company For a $10 Million Stock Deal
OFS International LLC and OFSI Holding LLC recently commenced a lawsuit against TMK Steel Holding Limited to recover an alleged $10 million transfer of cash made by OFSI, through its parent company OFSI Holding, to TMK Steels as payment for the purchase of TMK Steel’s 49% of the outstanding shares in OFSI Holding
Cipla, Inc. Sued for Damages Based On Its Alleged Submission and Subsequent Repudiation of Irrevocable Bids to Purchase Assets From Achaogen, Inc.
Trustee Edward E. Niger as Plan Trustee of Achaogen Plan Trust for the bankruptcy estate of Debtor Achaogen, Inc. brings an action against Defendant Cipla, Inc. for damages based on Cipla’s alleged submission and subsequent repudiation of irrevocable bids to purchase certain assets from the Debtor while Debtor was in bankruptcy.
Many Creditors Transfer Claims in CBL & Associates Properties, Inc. Bankruptcy to Fair Harbor Capital, LLC
Recently, many creditors including Comfort Systems USA, Alliance Fire Systems Inc., Cleveland Roofing & Air Cond., Service Specialists, Monona Plumbing & Fire Protection Inc., Champions Real Estate Group, Inc. transferred their bankruptcy claims in CBL & Associates Properties Inc. bankruptcy to Fair Harbor Capital, LLC.
META Advisors LLC Files Motion for Summary Judgment Against a Hong Kong Based Company Engaged in Design and Development of Portable Lighting Products, Seeks $93k in Alleged Preferences
Earlier last week, META Advisors LLC on behalf of G-Estate Management Company, Inc. (f/k/a Gordmans Management Company, Inc.) moved for summary judgment under Rule 56 of the Federal Rules of Civil Procedure against Mastercraft International Limited on the Plaintiff’s alleged claims under 11 U.S.C. §§ 547, 550 and 502 of the Bankruptcy Code.
A Virginia District Court Denies Defendants’ Motion to Withdraw Reference, Finds Defendants Had Already Submitted to the Bankruptcy Court’s Equitable Jurisdiction
A Motion for withdrawal for reference was denied since trustee’s claims were “core” and defendants had submitted to the bankruptcy court’s jurisdiction by filing proofs of claims and receiving administrative fees.
Ex-CEO of Medical Simulation Corporation Charged With Alleged Intentional Interference of Contract Relations, Recoupment, and Breach of Agreement Claims
The trustee for Debtor Medical Simulation Corporation recently brought a complaint against its ex CEO, for breaching his contractual obligations under the employment agreement, separation agreement, the IRA, and the NDA on numerous occasions.
Jeffereis Leveraged Credit Product Acquires Over $ 6M Worth Claims in LATAM Airlines Bankruptcy Case
Fair Harbor Capital, Hain Capital Investor Master Fund, Ltd, and Jeffereis Leveraged Credit Product, LLC recently bought claims in LATAM Airlines Group SA bankruptcy case.
The Bankruptcy Court for the District of New Jersey issued an order earlier this month appointing Herold L. Law, P.A. as a special counsel to represent the Debtor in the bankruptcy case of 3P Hightstown LLC.
Campbellton-Graceville Hospital Trustee Demands $1.3 Billion in Alleged Fraudulent Transfers From Breakwater Medical Group On Pretext of a Purported Fraudulent and Unlawful Pass-Through Billing Scheme
Trustee Marshall Glade for the Campbellton-Graceville Hospital Corporation commences a lawsuit against a medical group to recover avoided fraudulent transfers in the total amount of $1,394,326.59 according to 11 U.S.C. §§ 548 and 550 of the Bankruptcy Code.
Orion Energy Funds Moves to Dismiss Plaintiff’s Complaint in Carbonlite Holdings Bankruptcy Case For Failure to State a Claim
Two weeks ago, Defendants Orion Energy Credit Opportunities Fund II, L.P., Orion Energy Credit Opportunities Fund II PV, L.P., and Orion Energy Credit Opportunities Fund II GPFA, L.P. moved the court for an order dismissing counts 4 through 8 of the complaint filed by Plaintiffs Bahram Nour-Omid and Learnicon LLC in the bankruptcy case of Carbonlite Holdings, LLC.
Cobb & Cole Seeks to Dismiss IPS Worldwide Trustee’s $81 Million Clawback Action, Says Alleged Claims Barred by In Pari Delicto Doctrine
Defendants, Cobb & Cole, P.A., and John P. Ferguson recently filed a motion to dismiss the amended adversary complaint of Trustee Alex D. Moglia in the bankruptcy case of IPS Worldwide, LLC
Debtor-Plaintiff, Shamrock Finance LLC recently brought an adversary proceeding against 73 defendants under Federal Rules of Bankruptcy Procedure 7001(2) and 11 U.S.C. Sections 544 and 551 to avoid defendants’ unperfected security interests.
Plaintiff John O. Desmond, Chapter 7 Trustee of the bankruptcy estate of National Fish and Seafood, Inc. sues about 42 defendants for return of approximately $2 million, allegedly made by the Debtor under §§ 547 and 550 of the Bankruptcy Code.
Bankruptcy Court for Southern District of New York: Pre-Petition Claims May Not Set-Off Against Post-Petition Claims Under Doctrine of Mutuality
The Bankruptcy Court for Southern District of New York recently concluded that the defendant investment institutions are liable for breach of contract and turnover of property because their purported setoffs were invalid and their safe harbor defenses failed.