Earlier this month Alfred T Giuliano, the Chapter 7 Trustee for National Wholesale Liquidators, began filing various complaints seeking the avoidance and recovery of alleged preferential transfers. On November 19, 2008, I wrote on this blog about the commencement of the National Wholesale Liquidators ("NWL") bankruptcy (read my prior post concerning NWL here). As indicated in the prior post, NWL filed for bankruptcy with an agreement with its lenders that it would either find a buyer while in bankruptcy, or convert and liquidate under Chapter 7 of the Bankruptcy Code. The NWL bankruptcy converted to Chapter 7 on February 26, 2009.
The Chapter 7 Trustee hired Archer and Greiner to represent him in this bankruptcy proceeding. Pursuant to the summons filed with the preference actions, the Court has scheduled the first pretrial conference on December 8, 2010. The Trustee appears to have filed approximately 90 preference actions so far, however, more may follow. These adversary actions, as well as the NWL bankruptcy proceeding, are before the Honorable Mary F. Walrath. Judge Walrath previously served as Chief Judge of the Delaware Bankruptcy Court.