WHO WE ARE

Our bankruptcy practice is devoted primarily to representing defendants of preference and fraudulent conveyance actions under Sections 547 and 548 of the Bankruptcy Code. Read More…

WHAT WE DO

We have deep knowledge of preference and fraudulent conveyance defense litigation. This means reviewing and analyzing hundreds of preference and fraudulent conveyance judicial opinions issued each and every year. Read more…

ABOUT OUR EXPERTISE

We limit our practice to defending preference and fraudulent conveyance claims. Our dedication works and we can prove it. We represented a nationally known brand, a sportswear manufacturer ... Read More…

Recovery in Madoff Clawback Suits Reaches $12 Billion Mark

March 28, 2018, New York – The Securities Investor Protection Act (SIPA) Trustee has, so far, recovered or reached agreements to recover approximately $12.874 billion of the estimated $17.5 billion in principal lost in the Ponzi scheme by Bernard L. Madoff Investment Securities LLC (BLMIS) customers. This recovery represents more …

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A Creditor Bank Successfully Proves Non-Dischargeability of Debt Under Sec. 523(a)(2)(B) Owing to Debtor’s False Financial Statements

March 20, 2018, Southern Texas – Creditor Heritage Bank brought an adversary proceeding against Debtor James W. McCracken to determine the dischargeability of the certain debt owed to it by the debtor. Heritage alleged that McCracken’s debts to it were nondischargeable under 11 U.S.C. §523(a)(2)(B) and, alternatively, 11 U.S.C. §727(a)(3). …

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Supreme Court Limits Ch. 11 Safe Harbor For Securities Clawbacks

February 27, 2018, New York – Resolving the circuit split over the scope of the Bankruptcy Code’s “safe harbor” provision exempting certain securities transactions from clawbacks, the U.S. Supreme Court unanimously concluded that a transfer could be undone in bankruptcy if funds simply move through a financial institution without benefiting …

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Bahraini Bank, Investment Co. Can’t Escape Ch. 11 Clawback Actions

February 5, 2018, New York – U.S. Bankruptcy Judge Sean H. Lane found that Arcapita’s creditors can seek to retrieve $30 million in investments in Bahrain Islamic Bank and Bahrain-based Tadhamon Capital BCS, rejecting the banks’ arguments that the investments’ foreign nature shields them from clawback attempts. The judge denied …

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 New York Court – Section 548 Does Not Apply Extraterritorially

January 5, 2018, New York –  Salvatore LaMonica, the court-appointed Chapter 7 Trustee of the CIL estate brought an adversary proceeding against the directors as well as the Debtor to avoid certain transfers as fraudulent under §548. The Defendants sought to dismiss certain of the counts, according to Rules 12(b)(2) …

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