Judge Streamlines Avoidance Claims Against SemCrude

Law360, New York (August 19, 2010, 5:23 PM EDT) -- A bankruptcy judge approved a motion Thursday to streamline mediation and discovery procedures concerning allegedly fraudulent transfers made by SemCrude LP as it teetered on the edge of insolvency.

Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware granted Litigation Trustee Bettina M. Whyte’s request to stay formal discovery in 360 avoidance claims to allow room for informal negotiation.

The order also lays out a detailed mediation process in the hope that settlements can be reached and unnecessary costs avoided....
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