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Fradulent Transfer Litigation |
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Beginning in the early 1980's, Campbell & Levine represented the Creditors Committee and later the Chapter 11 Trustee for Jeanette Corporation (Jeannette Glass) in connection with the identification, analysis, and litigation of the fraudulent transfers issues presented in the context of a multi-million dollar leveraged buyout. This ten year engagement culminated in a five week non-jury trial in the U.S. District Court and an Appeal in the U.S. Court of Appeals for the Third Circuit in which the legal standards it advocated were recognized, but the necessary factual findings were not, resulting in an important developmental experience. |
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Subsequently, during the 1990's, the firm represented other creditors' committees in actively litigating fraudulent transfer actions, including the case of H.K. Porter Company, Inc. (challenging the pre-petition “restructuring” of the asbestos manufacturer) and in the case of Genfarm Limited Partnership IV (challenging a pre-petition redemption of preferred shareholders), both of which resulted in multi-million dollar recoveries for the firm's clients. |
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Campbell & Levine has also successfully represented defendants in fraudulent transfer actions, as in the first Phar-Mor case (obtained summary judgment for shareholders redeemed with one year prior to bankruptcy) and in the case of National Forge Company (obtained summary judgment for redeemed shares of managing shareholders). |
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