Preferential Transfers

From April 24 to 27, 2015, Charles A. Stanziale, Jr., as the Chapter 7 Trustee of CPI Corp., et al., filed preference complaints seeking to avoid and recover alleged preferential transfers pursuant to Sections 547 and 550 of the Bankruptcy Code, and to disallow claims of the defendants pursuant to Section 502(d).

By way

Last year, the Liquidating Trustee (the “Trustee”) in the Midway Games bankruptcy began filing avoidance actions against creditors of the bankruptcy estate.  Midway Games (“Midway” or the “Debtor”) filed petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware on February 12, 2009.  For those not familiar with this bankruptcy proceeding,