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Martel bankruptcy trustee seeking over $71M from investors in Ponzi scheme
22 Feb 2025 13:15 GMT
… trustee overseeing Martel’s bankruptcy is seeking a court … Bunker, who is overseeing the bankruptcy process.
“The trustee doesn … back the excess funds and preference payments,” the affidavit states. “The … and June 2023.
The bankruptcy trustee has deemed those …
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Risky Business: Distressed Companies and Payments in the Shadow of Bankruptcy
20 Feb 2025 04:21 GMT
… that a bankruptcy court would order you to disgorge preference payments you received … ."
The Bankruptcy Code requires the recipient of a preference payment to show … treats a distressed company. Thus, preference payments made under a payment plan …
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Preference Payments Made Per Historical Practice Still Not Ordinary
28 Feb 2022 20:04 GMT
It is impossible to predict whether supply chain disruptions caused by the COVID pandemic, increased interest rates, market volatility, changes in workforce trends, inflationary pressures, and geopolitical upheaval will lead to a recession and wave of …
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Investors with B.C. Ponzi schemer Greg Martel now facing court clawback of profits
26 Feb 2025 13:24 GMT
… 's bankruptcy estate.
Another 81 investors who received "preference payments… clawbacks in accordance with the Bankruptcy and Insolvency Act.
The vast … separately target the 81 "preference payment" investors for clawbacks because …
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Customs Brokers Lobby Change To US Bankruptcy Law
12 Sep 2019 17:03 GMT
… brokers to file for bankruptcy protection themselves."
This … Section 547 of the Bankruptcy Code, which prohibits preferential … By contrast, under the Bankruptcy Code, duty payments to … be subject to a preference payment recovery action," the …
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Besieged beauty chain founder faces bankruptcy
10 Sep 2019 05:01 GMT
… claims it served a bankruptcy notice against Ms Brunoli … regardless of whether I claim bankruptcy,” she said.Liquidators were … $83,750 in unfair preference payments made to a creditor in … s collapse.A second unfair preference payments claim of $95,000 …
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Understanding the Role of Bankruptcy in Asset Protection Planning
02 Jul 2018 18:35 GMT
… continued legal action imposed by bankruptcy. Bankruptcy provides you the opportunity to … the trustee as a voidable preference. Payments made within two years to … to resolve a case without bankruptcy. Bankruptcy should be your last resort …
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FTX Seeks $176 Million Settlement with Genesis Entities Amid Legal Dispute
18 Aug 2023 08:05 GMT
… claims in the New York Bankruptcy Court.
In CEO John J … section 502(h) of the Bankruptcy Code, should the Debtors succeed … 't qualify as a preference payment under legal terms, further reducing …
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Bahamian liquidators fire FTX warning shot
08 Mar 2023 22:14 GMT
… legal filings with the Delaware Bankruptcy Court, the trio moved to … 134 entities in Chapter 11 bankruptcy protection in the US, sought … ongoing investigations to establish the preference payments originated from the Digital estate …
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Despite legal proceedings, Dominique Grubisa thinks she's unstoppable
12 Jan 2023 22:24 GMT
… was the worst. Bankruptcy. And the trustee in bankruptcy said, well this … and it prevailed even in bankruptcy.
In its media release of … be clawed back as a preference payment when the builder went bust …