VG Liquidation, Inc. - Preference Defense Lawyer
entity for whose benefit the transfers were made, all preferential transfers of property that occurred during the ninety (90) day period prior to the commencement of the bankruptcy proceedings of the Debtors in these cases: VG Liquidation, Inc. (f/k/a Videology, Inc.), VG MT Liquidation LLC (f/k/a Videology Media Technologies,LLC), and VG Liquidation Ltd. (f/k/a Videology Ltd.).
These bankruptcy cases are being jointly administered.
These adversary actions are before the Honorable John T. Dorsey.
Background, as alleged by Plaintiff:
[A]s of the Petition Date, the Debtors provided software solutions to help advertisers and media companies plan, execute, and measure ad campaigns across television and digital media, with innovations including a direct integration with Nielsen, the dominant provider of television data in the United States, as well as many other data providers, including those with global capabilities.
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