§ 550(a)

Tronox Inc. v. Anadarko Petroleum Corp. (In re Tronox Inc.)

Chapter 11 debtor filed a complaint seeking to establish that a transfer of assets in a spin-off was an intentional or constructive fraudulent conveyance under 11 U.S.C.S. §§ 548 or 544(b). Both parties moved for partial summary judgment. Defendant transferee sought a ruling that 11 U.S.C.S. § 550 capped the debtor's recovery on its claims at the amount of unpaid creditor claims. The debtor sought a ruling that § 550 imposed no cap.
Ruling: 
Debtor's recovery on fraudulent transfer claims was not capped by §550(a).
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Commercial case opionion summary, case decided on January 20,2012, LexisNexis #0212-058

Kirschenbaum v. Leeds Morelli & Brown PC (In re Robert Plan of N.Y. Corp.)

Chapter 7 trustee filed an adversary proceeding in which it sought to avoid and recover transfers from the debtor to defendant law firm under 11 U.S.C.S. §§ 547(b) and 550. The court conducted a trial on the matter.
Ruling: 
Transfers to law firm's trustee account were avoidable but could not be recovered after subsequent transfer to law firm itself.
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Commercial case opionion summary, case decided on May 05,2011, LexisNexis #0611-092

White v. Wachovia Dealer Servs. (In re Wyatt)

Chapter 7 trustee commenced this adversary proceeding against defendant lender seeking to recover postpetition payments made by the debtor to the lender with respect to the loan on the debtor's truck. The parties filed cross-motions for summary judgment.
Ruling: 
Trustee could avoid lien on debtor's truck and recover postpetition payments to secured creditor.
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Consumer case opionion summary, case decided on November 17,2010, LexisNexis #1210-104

Paloioan v. Lasalle Bank

The District Court for the Northern District of Illinois, Eastern Division, affirmed a bankruptcy court's finding that a debtor hospital was insolvent by 1997 but that plaintiff bankruptcy trustee could not recover, as fraudulent conveyances, payments made to defendant investment pool trustee (IPT) because the IPT was paid by the debtor's accounts receivable factor. Both sides appealed.
Ruling: 
Denial of recovery of alleged fraudulent transfer vacated and remanded for redetermination of debtor's insolvency.
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Commercial case opionion summary, case decided on August 27,2010, LexisNexis #0910-105

Rodriguez v. Drive Fin. Servs. LP (In re Trout)

In consolidated cases, plaintiff bankruptcy trustee appealed a Bankruptcy Appellate Panel for the Tenth Circuit (BAP) decision affirming a bankruptcy court's determination that, having successfully avoided a preferential vehicle lien under 11 U.S.C.S. § 547, the trustee could not have a money judgment against defendant creditors equal to the value of the avoided liens under 11 U.S.C.S. § 550(a).
Ruling: 
Trustee not entitled to money judgment against creditors after successful avoidance of lien.
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Consumer case opionion summary, case decided on June 23,2010, LexisNexis #0810-128

Northrup v. Magnum Oilfield Servs. (In re Aspen Exploration Inc.)

In this adversary proceeding, plaintiff Trustee sought to avoid and to recover a $ 150,000 postpetition transfer under authority of 11 U.S.C.S. §§ 549, 550. Defendant transferee's answer denied the material allegations of the complaint. The Trustee moved for summary judgment.
Ruling: 
Unauthorized postpetition transfer to initial transferee could be avoided.
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Commercial case opionion summary, case decided on April 28,2010, LexisNexis #0710-125

Mervyns LLC v. Lubert-Adler Group IV LLC (In re Mervyns Holdings LLC)

Plaintiff unsecured creditors committee (the Committee) filed an adversary action to recover alleged damages from the financial transactions surrounding the sale of the debtor's assets in a private equity transaction. Defendant bank filed a motion to dismiss and the Committee filed a motion for leave to file a second amended complaint.
Ruling: 
Subsequent transferee claim by committee of unsecured creditors against bank dismissed.
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Commercial case opionion summary, case decided on March 12,2010, LexisNexis #0510-024

In re C.W. Mining Co.

Creditors filed an involuntary bankruptcy petition against a mining company and obtained an order requiring the company to enter bankruptcy. A trustee was appointed to administer the company's bankruptcy estate, and he filed adversary proceedings against a coal company, seeking an order requiring the coal company to turn over assets. The court held a trial on claims the trustee raised in his adversary proceedings and to resolve other issues.
Ruling: 
Coal company ordered to turn over property received from debtor mining company after petition date.
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Commercial case opionion summary, case decided on February 10,2010, LexisNexis #0410-056

Yoppolo v. MBNA Am. Bank (In re Dilworth)

Former creditor appealed a grant of summary judgment by the United States Bankruptcy Court for the Northern District of Ohio in favor of bankruptcy trustee, holding that a balance transfer check drawn on the debtor's credit card and made payable to the former creditor was a preferential transfer, voidable and recoverable under 11 U.S.C.S. §§ 550(a) and 547(b). The bankruptcy appellate panel affirmed.
Ruling: 
Credit card balance transfer properly held to be a voidable preferential transfer.
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Consumer case opionion summary, case decided on March 27,2009, LexisNexis #0509-065

Shubert v. Lucent Techs. Inc. (In re Winstar Communs. Inc.)

Appellant creditor sought review of a decision from the United States District Court for the District of Delaware, which affirmed a bankruptcy court decision holding, among other things, that the trustee was entitled to recover approximately $ 188 million from the creditor under 11 U.S.C.S. § 550(a) as an avoidable preference payment.
Ruling: 
Bankruptcy court properly held that debtor's primary supplier was a non-statutory insider allowing for avoidance of transaction within one-year prior to petition date.
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Commercial case opionion summary, case decided on February 03,2009, LexisNexis #0309-067

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