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Jenner & Block recently obtained an $8.6 million summary judgment award for its client, Daniel Freeland, Trustee of the bankruptcy estate of Consolidated Industries Corporation. On behalf of the Trustee, the Firm argued that certain monies had been transferred improperly from Consolidated to its then corporate parent (Welbilt Corporation) in the year preceding the bankruptcy filing.
On December 9, Judge Allen Sharp of the United States District Court for the Northern District of Indiana ruled that, as a matter of law, the transfers were avoidable, the Trustee had proven each element of his case, and the defenses lacked merit. Partners Ronald R. Peterson, Catherine L. Steege and Joel T. Pelz, assisted by Associates Jacob I. Corré, Jeffrey L. Gansberg and Peter A. Siddiqui, represented the Trustee