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Motion to Dismiss › Trustees › Commercial Bankruptcy

Patterson Belknap Webb & Tyler LLP

Barton Strikes Again: Nominal “Individual” Claims Don’t Excuse Non-Compliance

Patterson Belknap Webb & Tyler LLP on

Joshua Jordan was the CEO of Prehired LLC (“Prehired”), a “members-only workforce accelerator.” In December 2023, Jordan logged into Prehired’s Wells Fargo bank account online. He transferred $74,000 to the account of another...more

Proskauer - Employee Benefits & Executive...

District Court Holds Plan Cannot File Suit in Contravention of Trust Agreement

Proskauer - Employee Benefits & Executive... on

In Buckner v. Murray, No. 21-cv-567, 2024 WL 1366785 (D.D.C. Mar. 30, 2024), the court dismissed the United Mine Workers of America 1974 Pension Plan’s suit to collect $6.5 billion in withdrawal liability because the trustees...more

King & Spalding

Trustee’s Fraudulent Transfer Claims Survive Motion to Dismiss in Connection with Bernie Madoff Ponzi Scheme

King & Spalding on

On March 14, 2024, the U.S. District Court for the Southern District of New York denied a motion by Citibank, N.A. for leave to file an interlocutory appeal of a bankruptcy court’s order denying a motion to dismiss fraudulent...more

Patterson Belknap Webb & Tyler LLP

Wagoner Rule, Episode 2: An Outsider Serving a Managerial Role Is an Insider

Patterson Belknap Webb & Tyler LLP on

We previously discussed Bankruptcy Judge Martin Glenn’s analysis of the Wagoner Rule in the Feltman v. Kossoff & Kossoff LLP (In re TS Empl., Inc.) case. The bankruptcy trustee (the “Trustee”) had asserted a fraud claim...more

Skadden, Arps, Slate, Meagher & Flom LLP

Delaware Court Precludes Creditors of Limited Partnership From Pursuing Derivative Claims

Skadden, Arps, Slate, Meagher & Flom LLP on

In several cases since the seminal 2011 Delaware Supreme Court decision CML V LLC v. Bax, which held that creditors of Delaware LLCs lack standing to pursue derivative claims, the U.S. Bankruptcy Court for the District of...more

Robins Kaplan LLP

Delaware Court Rules Fraudulent Transfer Recoveries Are Not Capped At The Amount of Creditor Claims

Robins Kaplan LLP on

One of the most powerful remedies available to a judgment creditor or a bankruptcy trustee is the power to avoid and recover fraudulent transfers. Very generally, fraudulent transfers are transfers made by a debtor (1) with...more

Holland & Knight LLP

Courts Continue Trend of Recognizing Tribal Immunity in Bankruptcy Proceedings

Holland & Knight LLP on

Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware (Court) issued a decision on Feb. 28, 2017, that has important – and positive – significance for Native American tribal governments, their...more

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