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Preferences and Fraudulent Transfers. By reason of our official panel trustees who serve in two different districts, the firm has acquired vast experience in lawsuits brought by bankruptcy estates to recover preferential and fraudulent transfers. This experience has also made the firm highly effective in defending companies and individuals against being required to disgorge such transfers. The benefit of this experience extends to assessing and settling cases as well as litigation.
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Currently representing Chapter 7 Trustee in action seeking to recover approximately $1.4 million in fraudulent transfers made to the former principal owner of high end pizza chain.
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Obtained judgment on behalf of Chapter 7 Trustee avoiding as a preference the transfer of a security interest in chattel paper and recovering approximately $800,000 for the bankruptcy estate.
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Liens and Claims. Bankruptcy cases frequently entail challenges to claims and liens, especially of institutional lenders and insiders. The firm is experienced at reviewing claims and liens, on behalf of claimants as well as bankruptcy estates, in order to determine vulnerabilities and negotiate appropriate settlements. When an appropriate resolution cannot be reached, the firm acts aggressively to advance the interests of its clients.
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Successfully opposed a secured creditor’s Motion for Relief seeking relief from stay to foreclose on a sub-prime automobile loan portfolio of loans valued at approximately $8 million.
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Subordination and Recharacterization. Bankruptcy law provides multiple grounds upon which a claim may be subordinated to other claims (that is, assigned lesser priority such that other claims get paid first) or recharacterized from secured to unsecured or from debt to equity. In addition to calling for an understanding of the underlying legal principles, these cases often involve special considerations of legal tactics and strategy.
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Directors and Officers. In connection with the demise of a corporation or other business entity, parties will often seek to impose liability upon the directors, officers or managers. Such cases call for an understanding of complex legal principles, the impact of insurance, and non-monetary considerations such as reputational impact.
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Successfully resolved claims against director asserted by bankruptcy trustee for alleged breaches of fiduciary duty leading to the company’s demise.
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Insurance Coverage. Our bankruptcy lawyers are experienced in the particular issues of insurance coverage arising in bankruptcy cases, and in addition can draw upon the firm’s insurance recovery group, which has experience representing policyholders against insurance companies.
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Obtained payment on behalf of a director from insurer that denied coverage under a directors’ and officers’ liability policy for claims asserted by bankruptcy estate for breach of fiduciary duty.
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Discharge and Nondischargability. Our bankruptcy lawyers are well experienced in prosecuting, and at times defending, adversary proceedings contesting a debtor obtaining a discharge or the dischargability of a debt. We have handled the full spectrum of claims that might be deemed “nondischargable” ranging from fraud or misrepresentation to breach of fiduciary duty and other intentional acts.
Disclaimer: Each case has its own specific facts and legal issues. We cannot guarantee success in every individual matter.
