In the United States Bankruptcy Court for the District of New Jersey, Charles Forman, the Chapter 7 Trustee to the debtors, Chopper Express, Inc., Chopper DDS, Inc., Life Trucking, Inc., and Pumpernickel Express, Inc. ("Debtors"), filed approximately 54 preference actions in early October 2015 seeking the avoidance and recovery of allegedly fraudulent transfers under Sections 547 and 550 of the Bankruptcy Code.
The Debtors filed voluntary petitions for bankruptcy in the U.S. Bankruptcy Court for the District of New Jersey on October 3, 2013 under Chapter 11 of the Bankruptcy Code. By order dated October 22, 2013, the Court entered an Order converting the Debtors' bankruptcy cases to cases under chapter 7 of the Bankruptcy Code.
The law firm of Forman Holt Eliades & Youngman LLC represents the Chapter 7 Trustee in these various preference cases. The pretrial conference has been scheduled for January 6, 2016 at 10:00 a.m. in the Trenton federal district courthouse.
For preference defendants looking for an analysis of defenses that can be asserted in response to a preference complaint, 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.