« Back

Doubledown Media LLC Initiates Adversary Proceedings Against 45 Creditors in In re Doubledown Media LLC

Robert L Geltzer, the Trustee for the Estate of Doubledown Media, LLC, (“Doubledown”) filed eight (8) lawsuits against its creditors earlier last week to recover allegedly voidable preferential transfers under Chapter 11 Section 547 of the Bankruptcy Code. In total, forty-five (45) cases have been filed so far in this case. The highest claim is for the amount of $ 30,000 and was filed against W Residences.

Doubledown published Trader Monthly and other glossy magazines aimed at wealthy and aspiring Wall Street bankers and traders. On February 25, 2009, Doubledown had filed to liquidate under Chapter 7 of the U.S. Bankruptcy Code. The closely-held company, which also published Cigar Report, Corporate Leader, Dealmaker and Private Air, had filed for protection from its creditors with the U.S. Bankruptcy Court in Manhattan.

The U.S. case is In re Doubledown Media, LLC. Bankruptcy Judge Stuart M. Bernstein is presiding over this case. The plaintiff has retained The Law Offices of Robert L. Geltzer to represent them as their attorneys.