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A Closer Look at the Orleans Homebuilders Bankruptcy

by admin | Mon, 03/15/2010 - 20:56

On March 1, 2010, Orleans Homebuilders filed for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  According to Orleans' Declaration in Support of First-Day Pleadings, the company filed for bankruptcy hoping to get the "breathing space"  necessary to reorganize its business. 

Regent Communications Files for Bankruptcy, Seeking to Pay General Unsecured Claims in Full

by admin | Sat, 03/13/2010 - 19:43

Regent Communications, a radio broadcasting company that operates 62 stations throughout the U.S., filed chapter 11 bankruptcy petitions in the Delaware Bankruptcy Court on March 1, 2010.  According to documents filed in support of Regent's bankruptcy petitions, the company enters bankruptcy with a pre-bankruptcy restructuring agreement that is supported by a large majority of Regent's prepetition senior lenders.  (See Regent's

What is a Fraudulent Transfer? Decision in Elrod Holdings Explains

by admin | Sun, 03/07/2010 - 20:55

Introduction
Section 548 of the United States Bankruptcy Code allows for the avoidance of transfers that are either intentionally or constructively fraudulent.  Section 548 provides, in relevant part, as follows:

Chp. 7 Trustee Files Preference Actions in HomeBanc Mortgage Bankruptcy

by admin | Mon, 03/01/2010 - 20:39

George Miller, the Chapter 7 Trustee in the HomeBanc Mortgage bankruptcy, recently filed approximately 400 preference actions against various defendants under section 547 of the Bankruptcy Code.  According to a Summons filed in one of the adversary actions,  the first pre-trial conference is scheduled in the United States Bankruptcy Court for the District of Delaware on April 21, 2010.  The HomeBanc bankruptcy, along with these adversary actions, are before the Honorable Kevin J. Carey,  Chief Judge of the Delaware Bankruptcy Court.

Trustees in the Pope & Talbot and Specialty Motors Bankruptcies File Hundreds of Preference Actions

by admin | Wed, 11/18/2009 - 14:48

The Chapter 7 Trustees in the Pope & Talbot and Specialty Motors bankruptcies recently filed hundreds of complaints in the United States Bankruptcy Court for the District of Delaware.  George Miller is the Chapter 7 Trustee in the Pope & Talbot bankruptcy while Jeoffrey Burtch is the Trustee in the Specialty Motors (aka "Von Weise Inc.") bankruptcy.  Both groups of complaints seek the avoidance and recovery of alleged preferential transfers from various creditors of the debtors.