Barclays Asks Judge To Toss $143M Bank Transfer Fee Suit

Law360, New York (August 23, 2012, 5:41 PM EDT) -- A $143 million fraudulent conveyance suit against Barclays Bank PLC filed on behalf of creditors of oil and gas transport company SemGroup LP should be dismissed because the disputed transfers aren't relevant to any creditor claim, Barclays told a New York federal judge Wednesday.

Barclays said in a motion to dismiss that the $143 million claim at the heart of the lawsuit is not assigned to SemGroup creditors but to SemGroup itself, and that those trustee avoidance claims are barred by the bankruptcy code because none...
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