Eric S. Goldstein

In re Jie Xiao; In re LXEng, LLC (Bankr. D. Conn. 2019) - Represented unsecured creditor in investigating pre-bankruptcy asset transfers of individual and his closely held company, which both filed for Chapter 7 bankruptcy. The investigation uncovered that substantially all of the individual debtor’s non-exempt assets were transferred to his former spouse on the eve of bankruptcy as part of a consensual property settlement in their divorce and, in the years prior to the bankruptcy filing, the closely held company had transferred more than $1.5 million to his former spouse. We thereafter successfully obtained a judgment denying the individual debtor’s discharge of his pre-petition debts under Section 727(a)(2)(A) of the Bankruptcy Code due to the fraudulent transfers on the eve of bankruptcy, and assisted the Chapter 7 Trustees of the debtors’ bankruptcy estates in successfully prosecuting fraudulent transfer actions against the former spouse in the approximate amount of $2.5 million.

Defeated attempt by debtor and his former spouse to force the recusal of bankruptcy judge from various proceedings against them, which decision was affirmed by Second Circuit Court of Appeals. In re Xiao, 712 Fed. Appx. 73 (2d Cir. 2018)

Obtained favorable decision for contract counterparty correcting order authorizing the sale of the debtor’s assets. The original order erroneously failed to include the client’s contract as being assumed by the debtor and assigned to the buyer under Section 365 of the Bankruptcy Code. Over the opposition of the Committee of Unsecured Creditors, the Bankruptcy Court corrected its order, which decision was affirmed by U.S. District Court for the Eastern District of Michigan and Sixth Circuit Court of Appeals. Based on the correction of the sale order, preference claim against contract counterparty was withdrawn. In re LSC Liquidation, Inc., 699 Fed. Appx. 503 (6th Cir. 2017)

Represented CMBS trust in obtaining judgment of strict foreclosure of mortgage on commercial office building and $13 million deficiency judgment against guarantors due to breach of “bad boy” carve outs. Both the foreclosure judgment and deficiency judgment were affirmed by Connecticut Supreme Court. J.E. Robert Co. Inc. v. Signature Properties, LLC, 320 Conn. 91 (2016); 309 Conn. 307 (2013)

Represented mortgage lender in negotiating and documenting mortgage and loan modification for defaulted mortgage loan.

Represented dairy supplier in negotiating forbearance and payment plan agreement with dairy retailer.