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Delaware Bankruptcy Litigation Information on Corporate Bankruptcy Proceedings in Delaware and Throughout the United States

Tag Archives: 11 U.S.C. 547

Furniture Brands International – Preference Litigation has Begun

Posted in Preference Litigation

On September 9, 2013, Furniture Brands International (“Furniture Brands”) and various related entities filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  We initially published a blog post about the filing here: Furniture Brands Files for Bankruptcy in Delaware Seeking to Sell Assets On August 1, 2014,… Continue Reading

Conex Bankruptcy – Summary Judgment in a Preference Action

Posted in Opinions

In an 18 page opinion released December 18, 2014 in the Conex Holdings bankruptcy (Bank. D. Del. 11-10501), Judge Sontchi of the Delaware Bankruptcy Court analyzed the “ordinary course of dealings” defense to a preference action between the Debtors and Industrial Specialists Inc, the preference defendant (“Defendant”), in granting summary judgment in favor of the… Continue Reading

Graceway Pharmaceuticals Trustee Files Preference Complaints

Posted in Preference Litigation

On September 13th, the Liquidating Trustee (the “Trustee”) in the Graceway Pharmaceuticals (“Graceway”) bankruptcy filed preference complaints against approximately 25 different defendants. The Trustee is seeking to avoid and recover what he contends are avoidable preferences under section 547 of the United States Bankruptcy Code. Graceway filed chapter 11 petitions for bankruptcy on September 27,… Continue Reading

Pirinate Consulting, Trustee in NewPage Bankruptcy, Files Preference Actions

Posted in Preference Litigation

Introduction Earlier this month, Pirinate Consulting Group LLC, in its capacity as Litigation Trustee (the “Trustee”) of the NewPage Creditor Litigation Trust, began filing complaints in the Delaware Bankruptcy Court seeking the avoidance and recovery of what the Trustee alleges are preferential transfers.  All total, the Trustee filed over 780 preference complaints. In 2011, I… Continue Reading

Trustee Files Preference Actions in Moll Industries Bankruptcy

Posted in Preference Litigation

Earlier this week, George L. Miller, the chapter 7 trustee (the "Trustee") in the Moll Industries bankruptcy, began filng complaints seeking to avoid and recover what the Trustee alleges are avoidable transfers, or preference payments, from various third parties.  For those unfamiliar with Moll Industries, the company filed a chapter 11 petition for bankruptcy in… Continue Reading

New Century Mortgage and Tweeter Home Entertainment Both File Preference Complaints Against Various Defendants

Posted in Preference Litigation

Introduction Two weeks ago,  preference actions were commenced against a long list of defendants in the New Century Mortgage ("New Century") and Tweeter Home Entertainment ("Tweeter") bankruptcies.  The plaintiff in the New Century preference actions is Alan M. Jacobs, the liquidating trustee authorized under New Century’s Second Amended Plan of Liquidation to commence and prosecute preference actions. … Continue Reading