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IN RE PMTS LIQUIDATING CORP.

No. 08-11551 (BLS). No. Civ. 12-1020-SLR.

490 B.R. 174 (2013)

In re PMTS LIQUIDATING CORP., et al., Debtors. NHB Assignments LLC, Liquidating Trustee, On Behalf of the Liquidating Trust, Plaintiff, v. General Atlantic LLC and Braden Kelly, Defendants.

United States District Court, D. Delaware.

April 15, 2013.

Attorney(s) appearing for the Case

Norman M. Monhait, Esquire of Rosenthal, Monhait & Goddess, P.A., Wilmington, DE, for Plaintiff. Of Counsel, Jeffrey Klafter, Esquire , and Rachel Berlin, Esquire of Klafter Olsen & Lesser LLP.

Gregory V. Varallo, Esquire of Richards, Layton & Finger, PA, Wilmington, DE, and Laura C. Bower, Esquire of Paul, Weiss, Rifkind, Wharton & Garrison, LLP, Wilmington, DE, for Defendant Braden Kelly. Of Counsel, Allan J. Arffa, Esquire , Roberta Kaplan, Esquire , and Samuel E. Bonderoff, Esquire of Paul, Weiss, Rifkind, Wharton & Garrison, LLP.

MEMORANDUM OPINION

ROBINSON, District Judge.

I. INTRODUCTION

The instant action was originally filed as an adversary proceeding1 in the United States Bankruptcy Court for the District of Delaware ("the bankruptcy court"). Plaintiff NHB Assignments LLC ("plaintiff"), as liquidating trustee on behalf of a liquidating trust, alleges that defendants General Atlantic LLC ("GA LLC") and Braden Kelly ("Kelly") (collectively...

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