PA Bankruptcy Court Rules in In re Merritt

June 10, 2015

Publication| Bankruptcy & Corporate Restructuring

The Bankruptcy Court for the Eastern District of Pennsylvania (the Honorable Jean K. FitzSimon presiding) recently declined to decide whether a chapter 13 debtor can be granted standing to prosecute a fraudulent transfer claim on behalf of its estate under Official Committee of Unsecured Creditors of Cybergenics Corp. v. Chinery, 330 F.3d 548 (3d Cir. 2003) because the debtor had failed to first demonstrate that it was able to satisfy the prerequisites for standing under Cybergenics. In re Merritt, No. 11-18134 JKF, 2015 WL 1403093 (Bankr. E.D. Pa. May 19, 2015).

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