Doyle will prepare a customized proposal tailored to the specific property under consideration for auction, including a commission and fee structure developed to maximize returns to consignors.
We may also make an outright purchase offer on individual items or entire estates.
More than a year later, Friedman’s Liquidating Trust, the successor-in-interest to the debtor, sought to avoid and recover the prepetition payments made to the staffing company as preferences under section 547(b) of the Bankruptcy Code.
The staffing company asserted the new value defense, leading the liquidating trust to respond that the defense must be reduced by the debtor’s postpetition payment of ,412.71.
Our renowned team of specialists and our professional staff bring years of experience to each appraisal.
The overlap of these two Bankruptcy Code provisions gives rise to an interesting question: Can a creditor that holds an administrative expense under section 503(b)(9) of the Bankruptcy Code predicate a new value defense to an alleged preferential transfer under section 547(c)(4)(B) of the Bankruptcy Code on the same goods shipped 20 days before the commencement date?
The Bankruptcy Court for the Eastern District of Virginia has been clarifying the law in this area, including most recently in , which provides guidance to trade creditors on this question.
The former headquarters of Friedman’s was located in Addison, TX. About Oak Point Partners Oak Point Partners is a private investment firm specializing in the purchase of remnant assets.
Oak Point Partners has completed purchases of the remaining known and unknown assets in hundreds of Chapter 11 and Chapter 7 bankruptcy cases.