News
Court Dismisses Fraudulent Conveyance Claim Against LLF Client
LLF prevailed in defending an appeal to the U.S. District Court for the Western District of New York from a U.S. Bankruptcy Court order concerning an adversary proceeding in the Adelphia bankruptcy.
In the decision, the bankruptcy court had granted a motion for summary judgment by LLF's client, a national bank, to dismiss a fraudulent conveyance claim brought by the Adelphia Unsecured Creditor's Committee.
The District Court agreed with LLF that the claim was barred under the doctrines of ratification, res judicata, and judicial estoppel, because of Adelphia's prior consent to the challenged transactions in a different, prior proceeding.
Levi Lubarsky & Feigenbaum llp