Topic
Preference Actions
210 published works
In Solvency
Creditors Committee in American Home Mortgage Bankruptcy Files Over 90 Preference Actions
By Fox Rothschild LLP, Fox Rothschild LLP
Introduction Earlier this month, the Official Committee of Unsecured Creditors (the "Committee") for American Home Mortgage ("AMH") filed over ninety (90) adversary actions (review one of the Committee's Complaints here). As reflected in…
Delaware Bankruptcy Update
New Century Mortgage and Tweeter Home Entertainment Both File Preference Complaints Against Various Defendants
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…
In Solvency
New Century Mortgage and Tweeter Home Entertainment Both File Preference Complaints Against Various Defendants
By Fox Rothschild LLP, Fox Rothschild LLP
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…
Delaware Bankruptcy Update
Preference Actions Filed in Custom Foods and Friedman’s Bankruptcies
Introduction The debtor in the Friedman's bankruptcy recently filed preference complaints against various defendants. Days later, Charles Stanziale, the liquidating trustee in the Custom Foods bankruptcy, filed preference complaints against…
Delaware Bankruptcy Update
Trustee Commences Preference Actions in Adva-Lite Bankruptcy
The chapter 7 trustee for the Adva-Lite bankruptcy recently filed over 70 adversary complaints seeking to recover what the trustee considers avoidable transfers under sections 547, 548, 549 and 550 of the…
Delaware Bankruptcy Update
Mortgage Lenders Network Files Preference Actions
Introduction In January, Mortgage Lenders Network commenced over 65 adversary actions against various defendants, seeking the avoidance and recovery of preferential transfers (read one of the preference complaints here). As reflected in…
In Solvency
Using the Solvency Defense in a Preference Action: In re Bernard Technologies
By Fox Rothschild LLP, Fox Rothschild LLP
Introduction In a recent opinion issued by the Honorable Kevin Gross of the United States Bankruptcy Court, District of Delaware, the Court addressed the issue of whether a debtor was…
In Solvency
Dura Automotive Systems Commences Preference Actions
By Fox Rothschild LLP, Fox Rothschild LLP
Beginning on October 28, 2008, Dura Automotive Systems filed approximately 170 avoidance actions pursuant to section 547(b) of the United States Bankruptcy Code. Dura Automotive, along with its related entities, filed…
Delaware Bankruptcy Update
In Delaware Preference Litigation, Does New Value Have to Remain Unpaid?
By Fox Rothschild LLP, Fox Rothschild LLP
Courts are split on whether new value must remain unpaid in order to constitute a valid defense to a preference claim. The United States Bankruptcy Court for the District of…
Creditors' Resource
Bankruptcy Preferences – An Introduction
Today I spoke to a credit manager with an interesting problem. He called to discuss a letter he received demanding the payment of almost $400,000 from a customer that is…