IntegraMed Holding Corp. - Preference and Fraudulent Transfer Defense Lawyer
Plaintiff was appointed interim trustee of the each of the Estates shortly after the cases were filed. The Section 341 Meeting of Creditors was held and concluded on June 24, 2020 without a trustee being elected, and the Trustee now serves pursuant to Section 702(d) of the Bankruptcy Code.
"The Debtors’ business consisted of providing administrative, management, and related services to 19 separate medical practices specializing in providing gynecological services, treatment of human infertility, cryopreservation of eggs, sperm, and embryos, and other assisted reproductive services."
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