In re Bernard L. Madoff Inv. Sec. LLC
Dec
08
2014
Ruling
Trustee for debtor Ponzi scheme operator was prohibited from recovering payments made to customers who withdrew more than they invested.
Issue(s)
Were payments received by customers of the Madoff Ponzi scheme, who withdrew more from their accounts than they had invested, protected from avoidance as transfers made by a stockbroker "in connection with a securities contract" or "settlement payments?"
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Court
:
Judge or Jurisdiction information not available
- 11 U.S.C.
Chorches v. United States Bank
Oct
15
2014
Ruling
Fraudulent transfer claims dismissed due to expiration of statute of limitations.
Issue(s)
Should fraudulent conveyance proceeding be dismissed for being filed after the expiration of the statute of limitations?
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Court
:
Litzler v. Cooper (In re Margaux Tex. Ventures Inc.)
May
22
2014
Ruling
Trustee's untimely fraudulent transfer proceeding dismissed but trustee retained the ability to seek disallowance of the creditor's related claim.
Issue(s)
If a successfully asserted affirmative defense of statute of limitations precludes a trustee from avoiding or recovering a transfer, does this also preclude the transferee's claim from being disallowed under section 502(d)?
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Court
:
- 11 U.S.C.
Freeland v. CPA Warehouse (In re Livemercial Aviation Holding LLC)
Mar
26
2014
Ruling
Equitable tolling applied due to trustee's inability to obtain information about fraudulent transfer claim.
Issue(s)
Did equitable tolling apply to allow trustee to file an untimely complaint in a fraudulent conveyance proceeding?
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Court
:
Grede v. FCStone LLC
Mar
19
2014
Ruling
Prepetition transfer to investor was made in connection with a securities contract and was protected from avoidance by the safe harbor provision.
Issue(s)
Could debtor investment management firm's prepetition transfer of assets to one customer group at the expense of another be avoided?
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Court
:
Judge or Jurisdiction information not available
Woodard v. PSEG Techs. Asset Mgmt. Co. LLC (In re Tougher Indus.)
Oct
10
2013
Ruling
Safe harbor provision applied to payments made by debtor in settlement of leveraged buy out of debtor's predecessor.
Issue(s)
Whether transferees were entitled to summary judgment on complaint emanating from a prepetition leveraged buyout (LBO) of debtor's predecessor in which a chapter 11 trustee sought to avoid and recover, as fraudulent conveyances, the buyout payments made to transferees for debtor's stock.
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Court
:
- 11 U.S.C.
Burtch v. Opus LLC (In re Opus East LLC)
Aug
06
2013
Ruling
Amendments to complaint in avoidance proceeding allowed due to equitable tolling of statute of limitations.
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Court
:
- 11 U.S.C.
Bernstein v. Evergreen Line (In re Berkline)
Aug
06
2013
Ruling
Post-statute of limitations amended complaint in avoidance proceeding related back to original filing.
Issue(s)
Whether a putative transferee was entitled to an order dismissing a plan administrator's complaint alleging that he was entitled under 11 U.S.C.S. § 547 to avoid transfers corporate debtors made to the transferee less than ninety days before the debtors declared chapter 11 bankruptcy.
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Court
:
Official Comm. of Unsecured Creditors of Quebecor World (U.S.A) Inc. v. Am. Life Ins. Co. (In re Quebecor World (U.S.A.) Inc.)
Jun
10
2013
Ruling
Payments pursuant to note purchase agreements were within the safe harbor for transfers made in connection with a securities contract
Procedural posture
Appellant committee of unsecured creditors sought to avoid and recover certain payments made by a debtor to appellee noteholders in exchange for private placement notes that had been issued by one of the debtor's affiliates. The bankruptcy court granted the noteholders' motion for summary judgment. The United States District Court for the Southern District of New York affirmed the bankruptcy court's order. The committee appealed.
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Court
:
Judge or Jurisdiction information not available
- 11 U.S.C.
Brandt v. PlainsCapital Leasing LLC(In re Equipment Acquisition Res. Inc.)
Jun
06
2013
Ruling
Avoidance proceeding dismissed where evidence of alleged Ponzi scheme was insufficient to establish transfers as presumably fraudulent.
Procedural posture
Bankruptcy plan administrator brought adversary proceedings against transferees of funds from a bankruptcy debtor alleging that the transfers of funds were avoidable as fraudulent. The transferees moved to dismiss the complaints for failures to state claims.
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Court
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