• RCS Creditor Trust v. Schulte Roth & Zabel LLP

    Publication Date: 2018-05-30
    Practice Area: Bankruptcy
    Industry: Legal Services
    Court: U.S. Bankruptcy Court
    Judge: Judge Walrath
    Attorneys: For plaintiff: Ronald S. Gellert, Joseph L. Steinfeld, Kara E. Casteel, Bethany J. Rubis and Edward E. Neiger for RCS Creditor Trust
    for defendant: Adam G. Landis, James S. Green, Jr. and Michael L. Cook, for Schulte Roth & Zabel.

    Case Number: D68162

    After weighing the factors regarding transfer of this proceeding for avoidance of pre-petition transfers, the court concluded that the case should remain in the district where the underlying bankruptcy case was filed.

  • In re JMO Wind Down, Inc.

    Publication Date: 2018-05-02
    Practice Area: Bankruptcy
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: U.S. Bankruptcy Court
    Judge: Judge Shannon
    Attorneys: For plaintiff: Michael R. Nestor, Peter M. Gihuly and Andrew R. Gray for Jumio Acquisition; Adam G. Landis, Shanti M. Katona and George W. Shuster, Jr. for debtors and liquidating trustee
    for defendant: Matthew B. Heimann, Charles A. Stanziale, Jr. Steven A. Beckelman, Jeffrey T. Testa and Kate Roggio Buck for Bloso Investments; Leo D. Plotkin, Andrew John Roth-Moore, Christopher C. Cooke, Michael G. Busenkell, Bryan L. Bates, Charles E. Dorkey, III, Thomas F. Driscoll, III, Ian C. Bifferato, Kimberly Gattuso, Todd Charles Schiltz, Michael L. Bernstein, William P. Bowden and “J” Jackson Shrum for remaining parties.

    Case Number: D68121

    Bankruptcy court determined that a partys state court claims were derivative rather than direct claims, and therefore they belonged to the liquidating trustee.

  • In re Taylor-Wharton Intl LLC

    Publication Date: 2018-05-02
    Practice Area: Bankruptcy
    Industry: Manufacturing
    Court: U.S. Bankruptcy Court
    Judge: Judge Shannon
    Attorneys: For plaintiff: Patrick A. Jackson for Worthington Cryogenics, LLC
    for defendant: Derek J. Baker and Emily K. Devan for debtors.

    Case Number: D68125

    Purchaser of debtors assets was not entitled to reformation of contract based on mutual mistake because purchaser was a sophisticated party and failed to exercise due diligence.

  • In re Taylor-Wharton Intl LLC

    Publication Date: 2018-04-25
    Practice Area: Bankruptcy
    Industry: Manufacturing
    Court: U.S. Bankruptcy Court
    Judge: Judge Shannon
    Attorneys: For plaintiff: Patrick A. Jackson for Worthington Cryogenics, LLC
    for defendant: Derek J. Baker and Emily K. Devan for debtors.

    Case Number: D68125

    Purchaser of debtors assets was not entitled to reformation of contract based on mutual mistake because purchaser was a sophisticated party and failed to exercise due diligence.

  • Stanziale v. Richards, Layton & Finger, P.A.

    Publication Date: 2018-04-25
    Practice Area: Bankruptcy
    Industry: Legal Services
    Court: U.S. Bankruptcy Court
    Judge: Judge Sontchi
    Attorneys: For plaintiff: Mark M Billion and Erin J. Kennedy for plaintiff
    for defendant: Marcos A. Ramos and Joseph Barsalona II for defendant.

    Case Number: D68123

    Bankruptcy trustee was precluded from amending a complaint where the parties had previously entered a stipulated dismissal of the subject claims, and revival prejudiced defendant.

  • Pirinate Consulting Group, LLC v. ERCO Worldwide

    Publication Date: 2018-04-18
    Practice Area: Bankruptcy | Contracts
    Industry: Consulting | Manufacturing
    Court: U.S. Bankruptcy Court
    Judge: Judge Gross
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D68114

    In this adversary proceeding, the bankruptcy court determined that a contract which expired by its terms prior to the plan of reorganization was not subject to assumption, but a second agreement was executory and was as-sumed under the plan.

  • In re: Deb Stores Holding LLC

    Publication Date: 2018-04-11
    Practice Area: Bankruptcy
    Industry: Manufacturing | Retail
    Court: U.S. Bankruptcy Court
    Judge: Judge Gross
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D68104

    Discovery in avoidance of transfer action necessary to determine whether creditor-debtor relationship existed, and thus whether there was an antecedent debt or payment made in the ordinary course of business.

  • In re Abeinsa Holding, Inc.

    Publication Date: 2018-03-21
    Practice Area: Bankruptcy
    Industry:
    Court: U.S. Bankruptcy Court
    Judge: Judge Carey
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D68083

    The bankruptcy court clarified its decision ordering the litigation trustee be substituted for the debtor in a pending arbitration matter. Motion for limited reconsideration granted in part, denied in part.

  • In re Rent-A-Wreck of America, Inc.

    Publication Date: 2018-02-28
    Practice Area: Bankruptcy
    Industry: Automotive
    Court: U.S. Bankruptcy Court
    Judge: Judge Silverstein
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D68059

    Debtors were not in financial distress, and their primary motivation in filing for bankruptcy was to gain a tac-tical advantage in another matter, so they were not entitled to bankruptcy relief.

  • In re: FBI Wind Down, Inc.

    Publication Date: 2018-02-28
    Practice Area: Bankruptcy
    Industry: Manufacturing
    Court: U.S. Bankruptcy Court
    Judge: Judge Sontchi
    Attorneys: For plaintiff: Victoria A. Guilfoyle, Blank Rome LLP, Wilmington, DE; Edward L. Schnitzer and Jeffrey Zawadzki, Hahn & Hessen LLP, New York, NY, attorneys for plaintiff
    for defendant: James Tobia, The Law Offices of James Tobia, LLC, Wilmington, DE; Roland Gary Jones, Jones & Associates, New York, NY, attorneys for defendant.

    Case Number: D68055

    Disbursement of funds to subsidiaries operating accounts from parents master account for payment of subsidiaries accounts payable created factual dispute over subsidiaries interest in the property for recovery and avoidance.