IN RE APPLESEED'S INTERMEDIATE HOLDINGS, LLC

No. 11-10160 (KG). Civil Action No. 11-807 (JEI/KMW).

470 B.R. 289 (2012)

In re APPLESEED'S INTERMEDIATE HOLDINGS, LLC, et al, Debtors. Robert N. Michaelson, as Trustee of the Appleseed's Litigation Trust, Plaintiff, v. Jeffrey D. Farmer, et al., Defendants.

United States District Court, D. Delaware.

March 7, 2012.


Attorney(s) appearing for the Case

Drinker Biddle & Reath LLP, Howard A. Cohen , Wilmington, DE, Cooley LLP, Jay R. Indyke , Cathy Hershcopf, Richard S. Kanowitz , New York, NY, for Plaintiff.

Blank Rome LLP, Elizabeth A. Sloan and Ian Comisky , Wilmington, DE, for Defendants Jeffrey D. Farmer, Bradford J. Farmer, Brent Bostwick, and Vito Kowalchuk.

Richards, Layton & Finger, PA, Drew Gerard Sloan , Robert J. Stearn, Jr. and Mark David Collins , Wilmington, DE, Milbank, Tweed, Hadley & McCloy LLP, Robert Jay Moore and Linda Dakin-Grimm , Los Angeles, CA, Milbank, Tweed, Hadley & McCloy LLP, Sander Bak and Andrew W. Robertson , New York, NY, for Golden Gate Defendants (Defined below).

Morris James LLP, Carl N. Kunz, III , Wilmington, DE, for Defendant Karinn Kelly.

Pepper Hamilton, LLP, David M. Fournier , Wilmington, DE, for Defendants Webster Capital Founders Fund LP, Wester II LLC and Webster III LLC.


AMENDED OPINION

IRENAS, District Judge.

Plaintiff Michaelson brings claims as Trustee of the Appleseed Litigation Trust formed pursuant to a Chapter 11 reorganization. The claims revolve around a complicated financial transaction, which allegedly caused Appleseed Intermediate Holdings LLC and affiliated debtors (collectively "Debtors")1 to become insolvent. Presently before the Court, each Defendant moves to dismiss or partially...

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