Articles tagged with: Ascendia Brands Inc.

Reports, Articles, Motions, Opinions Concerning Ascendia Brands, Inc. Bankruptcy Preferential, Fraudulent Transfer Avoidance Adversary Proceeding Litigation

Ascendia Brands, Inc. Poised to Launch Mass Bankruptcy Preference Actions

Ascendia Brands, Inc. (Delaware Bankruptcy Lead Case No. 08-11787) is poised to launch a barrage of bankruptcy avoidable, preferential transfer adversary proceedings within the next 2 weeks.  Our analysis of the Debtor’s schedules indicates that approximately 140 former suppliers and other trade creditors will be targeted for avoidable transfer recovery under section 547, and there is a maximum theoretical recovery of approximately $21 million.