On January 31, 2018, Hancock Fabrics Inc., the post-effective date debtor, filed approximately 68 complaints seeking the avoidance and recovery of allegedly preferential and/or fraudulent transfers under Sections 547, 548 and 550 of the Bankruptcy Code.
The Debtors filed voluntary petitions for bankruptcy in the U.S. Bankruptcy Court for the District of Delaware on February 2, 2016 under Chapter 11 of the Bankruptcy Code. On June 20, 2017, the Court entered an order confirming the Debtors’ Second Amended Joint Chapter 11 Plan of Liquidation.
The various avoidance actions are pending before the Honorable Brendan Shannon. For preference defendants looking for an analysis of defenses that can be asserted in response to a preference complaint, below are several articles on this topic:
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