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Giuliano v. CDSI I Holding Co., Inc.

United States District Court, E.D. Pennsylvania

March 17, 2014

ALFRED T. GIULIANO, as Chapter 7 Trustee for the jointly administered Chapter 7 estates of Debtors,
v.
CDSI I HOLDING COMPANY, INC., et al. Defendants. DSI Renal Holdings LLC, DSI Hospitals, Inc. and DSI Facility Development, LLC Plaintiffs,

MEMORANDUM OPINION

CYNTHIA M. RUFE, District Judge.

I. INTRODUCTION

Plaintiff is the Chapter 7 Trustee for the jointly administered estates of DSI Renal Holdings LLC, DSI Hospitals, Inc., and DSI Facility Development, LLC ("the Debtors").[1] The Debtors' bankruptcy case is pending in the United States Bankruptcy Court for the District of Delaware.[2] Plaintiff has filed suit here against numerous Defendants, seeking "(a) to avoid as fraudulent transfers various transactions, transfers and agreements... and (b) to recover in excess of $425 million from the Defendants who include transferees of the fraudulent transfers, officers, directors and/or controlling shareholders who orchestrated, implemented and profited from" the alleged wrongdoing.[3] The Complaint alleges a complex scheme to strip the Debtors' assets and to shield those assets from the claims of creditors and asserts the following claims:

First Claim: Avoidance of Transfers Pursuant to 11 U.S.C. § 548(a)(1)(A)
Second Claim: Avoidance of Transfers Pursuant to 11 U.S.C. § 548(a)(1)(B)
Third Claim: Avoidance of Transfers Pursuant to 6 Del. C. §§ 1304 & 1305, and 11 U.S.C. § 544
Fourth Claim: Recovery of Transfers under 11 U.S.C. § 550
Fifth Claim: Breach of Fiduciary Duty
Sixth Claim: Aiding and Abetting Breach of Fiduciary Duty
Seventh Claim: Corporate Waste
Eighth Claim: Declaratory Judgment
Ninth Claim: Equitable Subordination under 11 U.S.C. § 510[4]

Defendants, none of whom are incorporated in, or residents of, Pennsylvania, [5] have filed motions seeking to dismiss the case for improper venue or to transfer it to the United States District Court for the District of Delaware, as well as motions to dismiss the claims on substantive grounds. Because the Court concludes that the case is ...


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