TransGroup Global Logistics

Salvex

Transproject sold 12 abandoned wind turbines for 1,140,000. Transproject directed the proceeds from the sale to be deposited in a bank account that was in the name of a sister company; TransGroup International. When Transproject failed to deliver the turbines free and clear of any title issues, the buyer sued Transproject in Texas state court. In that lawsuit, the court found that Transproject did not have a good title to the turbines, and entered a judgment in favor of the buyer against Transproject for 1,624,596.14 (being the purchase price, storage costs for the turbines paid by the buyer, and attorney fees). As a result, and in an effort to regain the money that it paid for turbines that it never received (as well as the storage costs), the buyer filed a new lawsuit in federal court (Cause No. 4-18-cv-01175) against Transproject’s sister companies for their role in the fraudulent transfer of the sale proceeds for the turbines as well as the conspiracy to help Transproject avoid paying the judgment.

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