The third parties moved for summary judgment to dismiss the third party claim brought by the defendants, Michael Gillis and Julie Joanisse Gillis, against their financial advisors and firm.
The court found that the causes of action arose before and during the defendants’ bankruptcy and thus vested in the trustee in bankruptcy.
The claims were not transferred back to the defendants and were also found to be statute-barred.
The court granted summary judgment dismissing the third party claim and struck the action as a nullity.