Becker files complaint against Old Republic

Becker, a multi-practice commercial law firm with attorneys, lobbyists and other professionals at offices throughout the East Coast, announced shareholder Jon Polenberg represents the creditor-trustee, Daniel J. Stermer, in a complaint alleging that ATIF’s 2015 asset transfer (including its proprietary software) to Old Republic National Title Insurance Company, one of the largest title insurance groups in the US, was fraudulent.
The complaint, filed in the Bankruptcy Court for the Middle District of Florida, alleges ATIF (commonly referred to as the Fund) attempted to avoid paying creditors, while it established a new relationship with Old Republic through an entity known as Attorneys’ Title Fund Services that assumed the assets, agents, directors and kept operating as the Fund.
The complaint asserts eight counts of fraudulent transfer against Old Republic National Title Insurance Company, and three counts of successor liability against Old Republic National Title Holding Company.
The claim is worth the value of the assets transferred, which may exceed $80 million.