Delaware Creditor's Rights Lawyer James Tobia HomeIntegraMed Holding Corp. - Preference and Fraudulent Transfer Defense Lawyer
On May 16, 2022, Plaintiff Jeoffrey L. Burtch, chapter 7 trustee for the Debtors' bankruptcy estates began filing complaints initiating adversary proceedings, pursuant to sections 547, 548 and 550 of the Bankruptcy Code, seeking to avoid and recover certain transfers made to the individual defendant(s) within 90 days prior to the commencement of the Debtors' Bankruptcy cases, or that may have been fraudulent conveyances, and to disallow any claims held by individual defendants.
To date, approximately 13 such complaints have been filed.
The Debtors in these chapter 11 cases are: The Debtors in these chapter 7 cases are: IntegraMed Holding Corp., IntegraMed America, Inc., Trellis Health, LLC, IntegraMed Fertility Holding Corp., Reproductive Partners, Inc., IntegraMed Management of Bridgeport, LLC, IntegraMed Florida Holdings, LLC, IntegraMed Management of Mobile, LLC, IntegraMed Management, LLC, and IntegraMed Medical Missouri, LLC.
Procedural History:
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.
These adversary actions are before the Honorable Laurie S. Silverstein.
Background, as alleged by Plaintiff:
"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 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."
Common Defenses in Preference Actions
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
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
If you conducted business with any of the IntegraMed affiliated debtors and especially if you have received a demand letter, or if a complaint has been filed against you or your business, even if not served yet, contact us here, email us at info@tobialaw.com or call the firm’s Wilmington offices directly at (302) 655-5303 to schedule an initial consultation. We can discuss the situation you are facing and share with you our initial observations at no charge.
