From December 17-19, 2014, THQ Inc. filed approximately 78 preference complaints seeking to avoid and recover alleged preferential transfers pursuant to Sections 547 and 550 of the Bankruptcy Code, and to disallow claims of the defendants pursuant to Section 502(d).
By way of background, THQ Inc. (the "Debtor") filed a petition for bankruptcy in the U.S.Bankruptcy Court for the District of Delaware on December 19, 2012 under Chapter 11 of the Bankruptcy Code. On July 16, 2013, the Debtor filed its Second Amended Chapter 11 Plan of Liquidation of THQ Inc. and its Affiliated Debtors, which was approved by the Court on July 17, 2013, and went effective on August 2, 2013.
Rosner Law Group and Andrews Kurth LLP represent the Debtor in these various preference cases. The pretrial conference has not been scheduled. These adversary actions, as well as the Debtors' bankruptcy proceeding, are before the Honorable Mary Walrath.
For reader's looking for more information concerning claims and defenses in preference litigation, attached is a reference guide prepared on the subject: " A Preference Reference: Common Issues that Arise in Delaware Preference Litigation."
In addition, below are several articles on this topic:
Preference Payments: Brief Analysis of Preference Actions and Common Defenses
Minimizing Preference Exposure: Require Prepayment for Goods or Services
Minimizing Preference Exposure (Part II) – Contemporaneous Exchanges
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
