National Wholesale Liquidators bankruptcy

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.


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