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The Delaware Bankruptcy Insider is a premier blog designed to bring its readers a comprehensive analysis of the latest Delaware corporate bankruptcy news and rulings.  Brought to you by Ashby & Geddes, P.A.

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Showing posts in Recovery

What Does It Mean to “Recover” Property (or the Value Thereof) for the Benefit of the Estate?

In re Allen, No. 13-3543, 2014 WL 4783085 (3d Cir. Sept. 26, 2014)

The Third Circuit was recently given the opportunity to explore what is required for “recovery” of property for the benefit of an estate under section 550 of the Bankruptcy Code.  In its own Florida bankruptcy proceeding, Advanced Telecommunication Network (“ATN”) avoided a transfer to Daniel W. Allen, Sr. (“Allen”), one of its former owners, and obtained a recovery order pursuant to section 550.  ATN pursued collection in the Florida courts but Allen actively impeded ATN’s efforts by transferring funds to trust accounts located in the Cook… Read More