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Delaware Bankruptcy Litigation Information on Corporate Bankruptcy Proceedings in Delaware and Throughout the United States

Category Archives: Bankruptcy Case Summaries

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New Gulf Resources – 341 and Formation Meetings Scheduled

Posted in Bankruptcy Case Summaries

On December 17, 2015, New Gulf Resources, LLC and 3 affiliated debtors (collectively, the “Debtors”) each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.  The cases are jointly administered under Case No. 15-12566 and are pending before… Continue Reading

Swift Energy Co., Shale Oil Driller, Files for Chapter 11 Bankruptcy in Delaware

Posted in Bankruptcy Case Summaries

Swift Energy Co. (“Swift”) has become the latest U.S. shale driller to file for Chapter 11 bankruptcy, filing a voluntary petition on December 31, 2015.  Swift pumps oil in the Eagle Ford Shale in South Texas and in Louisiana fields. According to the first day declaration of Dean Swick, Swift’s chief restructuring officer and a… Continue Reading

Involuntary Bankruptcy Filed Against Metrogate LLC

Posted in Bankruptcy Case Summaries

On December 22, 2015, an involuntary bankruptcy petition was filed against Metrogate, LLC, in the United States District Court for the District of Delaware.  The petitioning creditors are various Taberna Preferred Funding entities. For a link to a brief post discussing involuntary bankruptcies in general, click here.  Under Section 303 of the Bankruptcy Code, a… Continue Reading

Cubic Energy Files a Prepack Chapter 11 Petition

Posted in Bankruptcy Case Summaries

On Friday, December 11, 2015, Cubic Energy Inc. and affiliated debtors (“Debtors” or “Cubic”) filed a voluntary Chapter 11 with the United States Bankruptcy Court for the District of Delaware.  This is a prepack bankruptcy, with Cubic filing a proposed Chapter 11 plan of reorganization and disclosure statement on the same day it filed for… Continue Reading

Offshore Group Investment Limited files a Prepack in Chapter 11

Posted in Bankruptcy Case Summaries

On December 3, 2015, Offshore Group Investment Limited and 23 affiliates filed for relief under chapter 11 of the Bankruptcy Code.  The cases are jointly administered under Case Number 15-12422 and presided over by Judge Shannon.  The first day hearing was held on December 4, 2015.  The second day hearing is scheduled for January 7, 2016 at 10:00… Continue Reading

Millennium Lab Holdings a/k/a RxAnte files a Prepack in Chapter 11

Posted in Bankruptcy Case Summaries

On November 10, 2015, Millennium Lab Holdings and 2 affiliates filed for relief under chapter 11 of the Bankruptcy Code.  The cases are jointly administered under Case Number 15-12284 and presided over by Judge Silverstein.  The first day hearing was held on November 12, 2015.  The second day hearing is scheduled for December 10, 2015 at 11:00 a.m.… Continue Reading

Affirmative Insurance Holdings, Inc. Files for Bankruptcy – 341 and Formation Meetings Scheduled

Posted in Bankruptcy Case Summaries

On October 14, 2015, Affirmative Insurance Holdings, Inc. and 7 affiliates filed for relief under chapter 11 of the Bankruptcy Code.  The cases are jointly administered under Case Number 15-12136 and presided over by Judge Christopher S. Sontchi.  The first day hearing was held on October 19, 2015.  The second day hearing is scheduled for November… Continue Reading

Wire Company Holdings, Inc. Files for Chapter 11 Protection – Seeks Sale of Assets

Posted in Bankruptcy Case Summaries

Wire Company Holdings, Inc. (d/b/a New York Wire) and Wire Property Holdings, LLC filed chapter 11 petitions before the United States Bankruptcy Court for the District of Delaware on October 8, 2015 (lead case number 15-12097-LSS).  As set forth below, the Debtors seek authority to sell substantially all of their assets. According to the Declaration… Continue Reading

Santa Fe Gold Corp. Files for Bankruptcy

Posted in Bankruptcy Case Summaries

On August 26, 2015, Santa Fe Gold Corporation and three of its subsidiaries, filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware (the “Court”).  The case no. is 15-11761 and is pending before the Honorable Mary F. Walrath. The Debtors are continuing in possession of their… Continue Reading

USA Discounters Ltd. files for Chapter 11 Bankruptcy Protection

Posted in Bankruptcy Case Summaries

USA Discounters Ltd. filed for bankruptcy protection in the Delaware Bankruptcy Court and plans to wind down its business.  The case is before the Honorable Christopher S. Sontchi, and is assigned case no. 15-11755-CSS. Prior to its bankruptcy filing, USA Discounters sold furniture, appliances, electronics, jewelry and other products from stores located near military bases,… Continue Reading

Frederick’s of Hollywood Files Chapter 11 Bankruptcy in Delaware

Posted in Bankruptcy Case Summaries

On April 19, 2015, Frederick’s of Hollywood, Inc., and its affiliated companies (the “Debtors” or “Frederick’s”) filed chapter 11 bankruptcy petitions in the United States Bankruptcy Court for the District of Delaware.  At the time of the bankruptcy filing, the Debtors held assets in the amount of $36.5 million, and debts in the amount of $106… Continue Reading

Tales of the GM Bankruptcy: Erroneous UCC-3 Termination Statement Results In Loss of Secured Interest on $1.5 Billion Term Loan

Posted in Bankruptcy Case Summaries, Recent Developments in Bankruptcy Law

This post, written by Dana S. Katz, was originally published in the American Bar Association Young Lawyer Division Bankruptcy Committee Winter 2015 Newsletter. (c) 2015 by the American Bar Association. The Second Circuit Court of Appeals recently determined that JPMorgan released its security interest on a $1.5 billion term loan by virtue of the mistaken… Continue Reading

RadioShack Pulls the Plug

Posted in Bankruptcy Case Summaries

In an unsurprising move, RadioShack has become the latest retailer to file for relief under Chapter 11 of the Bankruptcy Code.  RadioShack filed on February 5, 2015 along with 17 of its affiliates.  The cases are jointly administered under Case Number 15-10197 and presided over by Judge Shannon.  The emergency first day motion was held… Continue Reading

DEB Stores Holding LLC files for Bankruptcy under Chapter 11

Posted in Bankruptcy Case Summaries

DEB Stores Holding LLC and certain of its affiliated companies (“DEB” or the “Debtors”) filed for bankruptcy under Chapter 11 of the Bankruptcy Code on December 4, 2014 in the United States District Court for the District of Delaware. According to the Declaration of Dawn Robertson, Chief Executive Officer of the Debtors, in Support of the… Continue Reading

Trump: Delaware Bankruptcy Court Confirms Secured Nature of Tax Firm’s Claim against Trump Debtors

Posted in Bankruptcy Case Summaries

In the recent decision of In re Trump Entertainment Resorts, Inc., Case No. 14-12103 (Bankr. D. Del. December 5, 2014), the Delaware Bankruptcy Court adjudicated the motion of Staller, Sklar, Chan & Brown, P.A. (“SSC&B” or “Firm”) to fix the value and priority of its claim and to allow its claim to be deemed secured… Continue Reading

Unitek Global Services Files a Prepack Chapter 11 Bankruptcy in Delaware

Posted in Bankruptcy Case Summaries

Unitek Global Services, Inc. (“Unitek” or the “Debtor”) filed for bankruptcy under Chapter 11 of the Bankruptcy Code on November 3, 2014 in the United States District Court for the District of Delaware. According to the Declaration of Andrew J. Herning, Chief Financial Officer and Treasurer of the Debtor, in Support of the Debtors’ Chapter… Continue Reading

Trump Entertainment Resorts Files for Chapter 11 Bankruptcy Protection in Delaware

Posted in Bankruptcy Case Summaries

Trump Entertainment Resorts, along with its affiliated debtors (“Trump Resorts” or “Debtors”), filed for bankruptcy under Chapter 11 of the Bankruptcy Code on September 9, 2014 (the “Petition Date”) in the United States Bankruptcy Court for the District of Delaware. According to Declaration of Robert Griffin, Chief Executive Officer of the Debtors in Support of… Continue Reading

Optim Energy, LLC Files for Chapter 11 Bankruptcy Protection in Delaware

Posted in Bankruptcy Case Summaries

Optim Energy, LLC and its subsidiaries and affiliates (“Optim” or the “Debtors”) filed for bankruptcy under Chapter 11 of the Bankruptcy Code on Wednesday, February 12, 2014 (the “Petition Date”) in the United States District Court for the District of Delaware. According to Declaration of Nick Rahn, Chief Executive Officer of Optim Energy, LLC in… Continue Reading

Tuscany International Drilling Inc. Files for Bankruptcy: Seeks to Reorganize Debt in Chapter 11

Posted in Bankruptcy Case Summaries

Tuscany International Drilling Inc. (“TID”) and its subsidiary, Tuscany International Holdings (U.S.A.) Ltd. (“TIH”; collectively with TID, “Tuscany” or the “Debtors”) filed for bankruptcy under Chapter 11 of the United States Bankruptcy Code late on Sunday, February 2, 2014 (the “Petition Date”) in the United States District Court for the District of Delaware. According to… Continue Reading

Plextronics, Inc. Files for Chapter 11 Protection

Posted in Bankruptcy Case Summaries

Plextronics, Inc. (“Plextronics” or the “Debtor”) filed for bankruptcy under Chapter 11 of the Bankruptcy Code on January 16, 2014 in the United States District Court for the District of Delaware. According to the Declaration of William Snyder, Chief Financial Officer of the Debtor in Support of First Day Motions (the “Snyder Declaration”), the Debtor… Continue Reading