Information on Corporate Bankruptcy Proceedings in Delaware and Throughout the United States
Summary
In a 17 page decision signed on February 24, 2011, Judge Walrath of the Delaware Bankruptcy Court applied a twelve factor test in determining if a preference action against an out-of-state defendant could be transferred by that defendant to another jurisdiction more convenient to it. In her opinion issued in response to a motion…
In August, the Chapter 7 Trustee in the National Wholesale Liquidators (“NWL”) bankruptcy filing approximately 90 preference actions. Just recently, the Trustee filed over 100 more preference actions in NWL. In November of 2008, I wrote about the commencement of NWL bankruptcy (read my prior post concerning the NWL bankruptcy here). As indicated in…
Earlier this month Alfred T. Giuliano, the Chapter 7 Trustee for National Wholesale Liquidators, began filing various complaints seeking the avoidance and recovery of alleged preferential transfers. On November 19, 2008, I wrote on this blog about the commencement of the National Wholesale Liquidators (“NWL”) bankruptcy (read my prior post concerning NWL here). As…
Introduction
On November 10, 2008, National Wholesale Liquidators (“NWL” or the “Debtor”), filed a chapter 11 petition for bankruptcy in the United States Bankruptcy Court for the District of Delaware (read the NWL bankruptcy petition here). According to the Declaration of NWL’s CFO, NWL began business as a merchandise close-out store 24 years ago. Since1984, NWL has grown to almost 2,000 employees working in stores and distribution centers in 10 states throughout the Northeast and Midatlantic.
