Introduction

Summary

Introduction

Earlier this month, the Liquidating Trust in the Advanta Corp. bankruptcy proceeding began filing preference complaints in the Delaware Bankruptcy Court.  Advanta and certain affiliates ("Advanta") filed for bankruptcy in Delaware in November of 2009.  As stated in the Liquidating Trust's complaints, Advanta was at one time one of the largest issuers of "business purpose credit cards" in the United States. 

Background

Did you do business with Orleans Homebuilders prior to their bankruptcy filing?  Have you received a demand for return of alleged preferential payments?  In a recent submission to the Delaware Bankruptcy Court, local developer Orleans Homebuilders stated that it intends to file as many as 400 suits to recover preferential transfers.

Introduction

A continuing theme of this blog series on Madoff has been the perplexing and inconsistent manner, virtually to the point of arbitrariness and unfairness, with which Trustee Irving Picard has handled charities that invested with Madoff.  Installment

Introduction

Introduction

Introduction

Last month, Jeoffrey Burtch (the "Trustee"), as Chapter 7 Trustee for the Opus South Bankruptcy, began filing preference complaints seeking to recover what the Trustee alleges are avoidable transfers under the Bankruptcy Code.  For those unfamiliar with the Opus South bankruptcy, the company filed petitions for bankruptcy in the Delaware Bankruptcy Court on April 22, 2009.  The Opus South bankruptcy began as a chapter 11 reorganization.  However,  on August 27, 2010, the Bankruptcy Court entered an order converting the case to a chapter 7 liquidation.  The Trustee w