Entrepreneur / Investor – Successful Prosecution of Fraudulent Transfer Actions
Herrick secured over $2 million in restitution for a prominent attorney/investor in multiple actions filed in New York State court to collect on a multimillion judgment obtained by our client in Delaware Chancery Court. The debtors had rendered themselves insolvent prior to the Chancery Court judgment by selling substantially all of their assets and distributing the proceeds to shareholders. In the first action filed, Herrick successfully argued that our client had a superior right to the shareholder distributions. The decision was confirmed on appeal, and the remaining actions were quickly settled.