Eon Mist, LLC - Preference and Fraudulent Transfer Defense Lawyer
Plaintiff further alleges that prior to the Preference Period, but during the two (2) year period immediately preceding the Petition Date, the Debtor made additional transfers of an interest of the Debtor’s property to or for the benefit of Insider Defendants.
Also on August 20, 2021, the Office of the United States Trustee appointed Plaintiff George L. Miller to serve as the interim chapter 7 trustee for the Debtor’s bankruptcy estate pursuant to section 701(a) of the Bankruptcy Code.
On November 19, 2021, the Trustee commenced an adversary proceeding styled Miller v. PPE Solutions USA LLC (In re Eon Mist, LLC), Adv. Proc. No. 21-51267 (MFW), by filing a complaint against PPE seeking to avoid $952,800.66 of allegedly preferential and fraudulent transfers conveyed thereto. In addition, on December 9, 2021, the Trustee commenced an adversary proceeding styled Miller v. Hurst Capital, LLLP, Adv. Proc. No. 21-51306 (MFW), by filing a complaint against Hurst Capital seeking to avoid $592,973.75 of allegedly preferential and fraudulent transfers conveyed thereto. Default judgment was entered against Insider Defendants, but the Trustee later learned that some of the transfers at issue in that matter ultimately passed through Insider Defendants en route to the individual defendants sued on February 3, 2023.
"[S]ince the inception of the Debtor’s business in March 2020, the Debtor produced travel-sized disinfectant spray, a product that allegedly grew to be in high demand as a result of the ongoing COVID-19 pandemic."
The United States Bankruptcy Code provides many affirmative defenses to preference actions, contained within Section 547(c). For example, the most common defenses that may be available to a Defendant under Section 547(c) may include:
• the transfer was a contemporaneous exchange for new value given to the debtor (i.e., the debtor received something of value in exchange for the transfer); 11 U.S.C. §547(c)(1);
• after such transfer, Defendant gave new value to or for the benefit of the debtor (i.e., the Defendant extended additional credit to the Debtor after receiving the transfer) 11 U.S.C. §547(c)(4); or
• the transfer was in payment of a debt incurred by the debtor in the ordinary course of business or financial affairs of the debtor and the recipient (i.e., Defendant made the transfer under ordinary business terms). 11 U.S.C. §547(c)(2).
For more information, see our page on Preference Defense Litigation: http://www.tobialaw.com/delaware-preference-defense-lawyer.html
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