BANKRUPTCY LAW (Fraudulent Transfer): ​​In the Delaware Bankruptcy Court, the court limited the US Trustee’s attempt to recover a pre-petition transfer. ​The ​Chapter 7 trustee ​tried to recover the full amount of the property as a fraudulent transfer, but the court limited the Trustee to the amount of the creditor’s claim. The court reasoned that the creditor ​would not receive a benefit by obtaining an amount in excess of its claim; that would instead be a windfall. The Trustee is therefore limited to the amount of the claim. Court construed 11 USC Sec. 550(a) and 11 USC Sec. 726(a)(1)–(5).​ ​Giuliano v. Schnabel (In re DSI Renal Holdings, LLC), No. 14-50356, 2020 WL 550987 (Bankr. D. Del. Feb. 4, 2020) ​

 

Call Now ButtonCall Now

Pin It on Pinterest