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ARTICLE · 06 NOVEMBER 2014

Quantum Foods: Committee Files Preference Actions

Fox Rothschild LLP
Fox Rothschild LLP
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On multiple dates since the bankruptcy petition was filed, including May 16, 2014, June 13, 2014, July 11, 2014, and July 15, 2014 the Debtors file motions for the sale of assets.

United StatesInsolvency/Bankruptcy/Re-Structuring
L. John Bird
L. John Bird
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Introduction

On October 28, 2014, The Official Committee of Unsecured Creditors of Q v. AB Foods LLC (the "Committee"), the committee in the Quantum Foods, LLC bankruptcy, began filing complaints to recover what it contends are avoidable preferences.  The Committee filed the preference actions in the Delaware Bankruptcy Court and argue that the transfers, or payments, received by various defendants are avoidable and subject to recovery under 11 U.S.C. § 547 and 548 of the United States Bankruptcy Code. This post will look at the Quantum Foods, LLC bankruptcy proceeding, why the company filed for bankruptcy as well as key developments during the course of the bankruptcy proceeding.

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