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    Defeating Settling Party’s Effort to Use Preference Law to Void a Bankruptcy Court Settlement
    2018-06-18

    Among other things, the plan called for the Liquidating Trust to pursue causes of action belonging to the debtors’ estates. One of those causes of action related to a breach of a Chapter 11 asset purchase agreement between the debtors (as sellers) and the proposed purchaser, Brown Media Corporation, an entity created by one of the debtors’ shareholders to buy the debtors’ assets out of the bankruptcy case. In connection with its initial bid, the proposed purchaser had deposited $765,000 with an escrow agent as a good faith deposit.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Tarter Krinsky & Drogin LLP, United States bankruptcy court
    Location:
    USA
    Firm:
    Tarter Krinsky & Drogin LLP
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