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When creditors have been paid in full, a trustee may pursue fraudulent transfers for the benefit of defrauded equity holders, Bankruptcy Judge Craig Goldblatt says.
The ‘ordinary course’ defense only applies to credit terms with healthy customers, not to debtors in financial distress, even if pressure is ordinary in the industry.
To defeat motions to dismiss, preference and fraudulent transfer complaints need not contain all the information to be learned in discovery, Bankruptcy Judge Craig Goldblatt says.
At least with regard to standing for objections to claims, Delaware’s Judge Craig Goldblatt believes that the Truck Insurance standard for chapter 11 also applies in chapter 7.
In the first decision on the topic after Purdue, Delaware’s Judge Goldblatt denied the debtor’s motion for a preliminary injunction to stop a lawsuit against nondebtors.