New Hampshire, April 17, 2017 – Jones & Associates successfully defended its client, a US company that specializes in manufacturing parts and components for the aerospace industry to construction industry.
The Debtor GT Advanced Technologies, Inc, is a technology company producing advanced materials and innovative crystal growth equipment for the global electronics, solar and LED industries. The Trustee for the Debtor, GTAT Corporation, brought a lawsuit against our client, the Defendant, in the U.S. Bankruptcy Court for the District of New Hampshire, to recover a five-figure amount. The firm successfully established to the Plaintiff’s counsel that the disputed payments were covered by the ordinary course of business defense and that the Defendant had provided new value to the Debtor from before the petition date to after the alleged transfers were made, due to which the Debtor had no recourse against the Defendant for the avoidance of the alleged transfers. The Trustee dismissed the case for no payment.