Section 547 bankruptcy code

In the recent decision of Klauder v. Echo/RT Holdings LLC (In re Raytrans Holding, Inc.), Adv. No. 15-50273 (CSS) (Del. Bankr. Aug. 10, 2017), Judge Sontchi granted Defendants’ Motion to Dismiss the Trustee’s Second Amended Complaint, dismissing the Trustee’s claims in their entirety either under collateral estoppel or the doctrine of res judicata.…

Background

Last month, the Chapter 7 Trustee in the Sunset Aviation bankruptcy began filing preference actions against various defendants seeking the recovery of alleged avoidable transfers.  The Sunset Aviation bankruptcy proceeding includes the consolidated bankruptcies of Sunset Aviation, Inc., JetDirect Aviation and Regal Jets, LLC.  The first bankruptcy commenced on February 25, 2009, when Regal…

Introduction

In January of this year, George L. Miller, the chapter 7 trustee (the “Trustee”) in the WL Homes bankruptcy, began filing avoidance actions against various creditors.  As alleged in the complaints, the Trustee seeks the recovery of what he deems are “preferential transfers” pursuant to 11 U.S.C. section 547(b) of the Bankruptcy Code.  This…

Introduction

Earlier this month, the Chapter 7 Trustee (the “Trustee”) in the Consolidated Bedding bankruptcy commenced several avoidance actions under sections 547 and 548 of the Bankruptcy Code.  Consolidated commenced this bankruptcy proceeding on May 29, 2009, when it filed petitions for bankruptcy under Chapter 7 of the Bankruptcy Code.  Consolidated manufactured and sold mattresses…

In late August, the Official Committee of Unsecured Creditors (the “Committee”) in the Pacific Energy Resources bankruptcy, began filing adversary actions against various creditors.  The complaints filed by the Committee allege the defendants received preferential transfers and/or fraudulent transfers from the Debtor.  Prior to filing the adversary actions,  the Committee filed a motion with the…

Introduction

Recently, the Plan Administrator for the Goody’s Family Clothing bankruptcy commenced adversary actions against various defendants in the United States Bankruptcy Court for the District of Delaware.  The Goody’s Plan Administrator was appointed pursuant to Goody’s plan of reorganization.  The Bankruptcy Court approved Goody’s plan on October 7, 2008, approximately four months after…