How is dvi liquidating trust
One Liberty Place – Suite 4200 Philadelphia, PA 19103 Attorneys for Defendant Raymond Fear THE BAYARD FIRM By:___/s/ Peter B.
Orange Street Wilmington, DE 19801 302 426-1313 Fax : 302-426-1300 Email: [email protected]: 09/02/2004Bradford J. Market Street, 17th Floor Wilmington, DE 19801 302-468-7750 Fax : 302-652-4400 Email: [email protected] W. Carickhoff, Jr Pachulski Ziehl Stang Ziehl Young Jones 919 N. 16th Floor Wilmington, DE 19899 302-652-4100 Fax : 302-652-4400 Email: [email protected] Michael Beck (See above for address)Joseph J. Bodnar 2101 North Harrison Street, Suite 101 Wilmington, DE 19802 302 652-5506 Fax : 320-213-2709 Email: [email protected] J. Philadelphia, PA 19103 Attorneys for Defendants Nathan Shapiro, William S. Mc Hugh DUANE MORRIS, LLP By:__/s/ Richard Riley_______________________ Richard W. # 4052) 1100 North Market St., Suite 1200 Wilmington, DE 19801-1246 (302) 657-4930 DUANE MORRIS, LLP Patrick J. Philadelphia, PA 19103 Attorneys for Defendant Anthony Turek CONNOLLY BOVE LODGE & HUTZ, LLP By:__/s/ Arthur G. # 496) The Nemours Building 1007 North Orange Strett Wilmington, DE 19801 (302) 658-9141 -10- WCSR 3755995v1 Case -cv-00955-GMS Document 115 Filed 10/17/2007 Page 11 of 12 MORGAN, LEWIS & BOCKIUS, LLP William P. (the “Official Committee”) and defendants Michael A. In particular, Defendants deny they breached their alleged duties of care, loyalty, and good faith, fiduciary or otherwise; deny they violated any duties or laws; deny they were involved in, responsible for or knew about any alleged misuse of corporate resources, preferential transfers, wrongful and/or fraudulent transfers, round-tripping, double-pledging of collateral and/or pledging of in-eligible collateral; and deny they were involved in any improper or wrongful WCSR 3755995v1 -3- Case -cv-00955-GMS Document 115 Filed 10/17/2007 Page 4 of 12 scheme, transaction, or practice. The Parties agree to join any additional parties on or before November 19, 2007. This is the most cost effective way to conduct discovery in this matter.
Buckley, the Trustee of the DVI Liquidating Trust (the “Liquidating Trustee”), as successor-in-interest to the claims of the Official Committee of Unsecured Creditors of DVI, Inc. Failing to supervise the management and operations of DVI -- including the failure to implement an internal system of independent checks and balances -- with the appropriate level of skill and care. The Alleged Defenses Defendants, former officers and directors of DVI, have denied all allegations set forth in Section 2A above and in Plaintiff’s Complaint. If necessary, the Parties will amend the pleadings on or before November 19, 2007. Joinder of Parties At this time, no other parties have been joined. 06-CV-1003, and two actions asserting claims against the Defendants and certain entities: WM High Yield Fund v. The Parties have conferred and desire to have discovery in this matter coordinated (to the extent possible) with discovery in the Pennsylvania Actions. # 3483) 1105 Market Street, 15th Floor Wilmington, DE 19801 (302) 504-7800 MONTGOMERY, MCCRACKEN, WALKER & RHOADS, LLP Richard L.
JOINT STATUS REPORT Pursuant to this Court’s Order dated October 11, 2007 (the “October11 Order”), plaintiff Dennis J. Awarding raises and severance packages to select employees to assure their continued acquiescence to, or cooperation in, the aforementioned activities; and ? Relief Liquidating Trustee seeks a judgment against the Defendants awarding damages for the causes of action asserted in the Complaint in the amount of $300 million, plus punitive damages. Amendment of Pleadings At this time, the pleadings have not been amended. Pursuant to the Case Management Order, expert depositions are to take place during the sixty (60) days following May 22, 2008.
Subverting, disregarding, and/or failing to implement internal controls and financial reporting procedures, especially with respect to the credit-worthiness of borrowers and the impairment of assets pledged as collateral to lenders or transferred to securitizations; ? 04-CV-3423, an action brought by bondholders of DVI, Fleet National Bank v. The Case Management Order governs discovery in the Pennsylvania Actions and establishes (i) March 3, 2008 as the deadline for fact discovery, (ii) April 2, 2008 as the date by which Plaintiffs are required to file their expert reports; (iii) May 2, 2008 as the date by which Defendants are required to file their expert reports; and (iv) May 22, 2008 as the date by which Plaintiffs are required to file their expert rebuttal reports. 123 South Broad Street, 24th Floor Philadelphia, PA 19109 Attorneys for Defendant Michael O’Hanlon OBERMAYER REBMANN, MAXWELL & HIPPELL, LLP By:_/s/Kellie Mac Cready____________ Kellie M.
Fay, Esquire Dilworth Paxson LLP 3200 Mellon Bank Center 1735 Market Street Philadelphia, PA 19103 Attorneys for Defendant Steven R.
1818 Market Street, Suite 3402 Philadelphia, PA 19103 Attorneys for Defendant Harry T. Roberts -11- WCSR 3755995v1 Case -cv-00955-GMS Document 115 Filed 10/17/2007 Page 12 of 12 DILWORTH PAXSON LLP __/s/ Martin Weis___________ Martin James Weis, Esquire First Federal Plaza Suite 500 Wilmington, DE 19801 Maura E.
The Complaint This action brings claims against a number of former officers and directors of DVI, Inc. (“DVIFS”) and DVI Business Credit Corporation (“DVIBC”) (collectively “DVI” or the “Debtors”) and emanates from the financial collapse of DVI.