On August 5, 2011, Tamara Miles Ogier, Trustee in the Dean & Moore Insurance, Inc. Bankruptcy, commenced Chapter 5 preferential transfer recovery litigation with the filing of 29 complaints – 23 complaints include Georgia fraudulent conveyance claims O.C.G.A. Sec. 18-2-70; 12 include Section 548 fraudulent conveyance claims; certain complaints also include equitable subordination, other state law claims and a preferential transfer claim complaints in the Northern District of Georgia (Atlanta). The Debtor operated an insurance agency. The Trustee admits that the Debtor conducted both “legitimate and illegitimate” operations. The Trustee claims, however, that the Debtor’s activities constituted a Ponzi scheme, based in part on “obtaining policies for fictitious persons and entities and other activities that allowed Debtor to obtain funds through fraudulent representations.”
Adversary Proceedings Overview
Lead Bankruptcy Case Name (Case Number): Dean & Moore Insurance, Inc. (09-80657)
Bankruptcy Court District (Division): Northern District of Georgia (Atlanta)
Petition Date: Chapter 11 petition filed August 6, 2009; converted to Chapter 7 on September 24, 2009
Associated Cases: This is a single debtor bankruptcy.
Plaintiff: Tamara Miles Ogier, Trustee
Number of Proceedings: 29
When Filed: August 5, 2011
Adversary Proceeding Judge: U.S. Bankruptcy Judge James R. Sacca
Plaintiff's Counsel: Ellenberg, Ogier, Rothschild & Rosenfeld (Atlanta, GA) attorney Allen Rosenfeld
Avoidance Period: The fraudulent transfer claims under Section 548 of the Bankruptcy Code have a stated avoidance period for transfers "made on or within two years of the filing of the bankruptcy petition... ." The fraudulent transfer claims under Georgia law, O.C.G.A. Sec. 18-2-70, have a stated avoidance period of "[o]n or within four years of the Petition Date... ...."
Nature of the Proceedings: 23 complaints include Georgia fraudulent conveyance claims O.C.G.A. Sec. 18-2-70; 12 include Section 548 fraudulent conveyance claims; certain complaints also include equitable subordination, other state law claims and a preferential transfer claim
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