On June 16, 2016, the Official Committee of Unsecured Creditors (the “Committee”) of Kid Brands Inc., et al. (the “Debtors”), filed approximately 64 complaints seeking the avoidance and recovery of
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Capsule International Holdings Preference Actions UPDATE
By Fox Rothschild LLP on
By way of update to the Capsule International Holdings preference action filings (see original post here), the Official Committee of Unsecured Creditors (the “Committee”) recently filed a Motion…
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Assumption/Assignment of Contracts – Preference Defense
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Many preference defendants are not aware of the fact that if their pre-petition contract with the debtor is assumed or assigned in the course of the bankruptcy, then such assumption/assignment…
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Ordinary Course of Business Defense Further Examined – Burtch v. Revchem Composites, Inc.
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Dots, LLC Preference Actions Filed
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On November 7, 2014, in the neighboring jurisdiction of the United States Bankruptcy Court for the District of New Jersey, Dots, LLC, et al. (“Debtors” or “Dots”) filed approximately 70…
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Capitol Infrastructure Preference Litigation Update: Pretrial Conference Scheduled for July 22, 2014
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In this prior post, the preference actions filed by Jeoffrey L. Burtch, Chapter 7 Trustee of the Capitol Infrastructure, LLC bankruptcy estates, from April 22 through 24th were discussed. …
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AFA Investment Preference Actions Filed
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On March 28, 2014, AFA Investment Inc. filed approximately 125 complaints seeking to avoid and recover alleged preferential transfers pursuant to Sections 547 and 550 of the Bankruptcy Code, to…
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Preference Payments: Brief Analysis of Preference Actions and Common Defenses
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It’s your worst nightmare: you provided goods and services to a financially struggling company, only to find out that it filed for bankruptcy, leaving your company with a large unpaid…
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Decision in In re J. Silver Clothing, Inc., Holds that §547(c) “Substantially Contemporaneous” Transfers are not Governed by a Bright Line Rule under §547(e)
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Summary
In a 28 page decision signed April 29, 2011, Judge Gross of the Delaware Bankruptcy Court determined that in order for a transfer to be considered “substantially contemporaneous” as…
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Decision in Advanced Marketing Services, Inc., Reminds Us – There is No “Junk-Mail Defense”
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Summary
In a 15 page decision signed yesterday, April 5, 2011, Judge Sontchi of the Delaware Bankruptcy Court determined that when a company receives pleadings in a bankruptcy case, even…
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