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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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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

Laboratory Partners, Inc. (aka “MEDLAB”), Files for Bankruptcy Citing Low Reimbursement Rates

Posted in Bankruptcy Case Summaries

Laboratory Partners, Inc., and various affiliates (collectively, “MedLab” or the “Debtors”), filed chapter 11 petitions for bankruptcy on October 25, 2013.  MedLab filed for bankruptcy protection in the United States Bankruptcy Court for the District of Delaware.  The company provides laboratory services to long-term care facilities, doctors’ offices and hospitals.  As for long-term care clients,… Continue Reading

Green Field Energy Files for Bankruptcy Protection in Delaware

Posted in Bankruptcy Case Summaries

Green Field Energy Services, Inc. (“Green Field”), filed for bankruptcy protection yesterday in the United States Bankruptcy for the District of Delaware.  Green Field began in 1969 as Hub City Industries, LLC, a Louisiana limited liability company.  The company changed its name to Green Field Energy Services in 2011, at the same time converting to… Continue Reading

North Texas Bancshares, Inc., Files for Bankruptcy in Delaware

Posted in Bankruptcy Case Summaries

On October 16, 2013, North Texas Bancshares of Delaware, Inc. and North Texas Bancshares, Inc. (collectively, the “Debtors”) filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  Debtors are bank holding companies based in Dallas, Texas.  See Declaration in Support of Chapter 11 Petitions and First Day… Continue Reading

A Closer Look at the Savient Pharmaceuticals Bankruptcy

Posted in Bankruptcy Case Summaries

Savient Pharmaceuticals, Inc. (“Savient”) filed chapter 11 petitions for bankruptcy on October 14, 2013. Savient filed for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  According to the company’s bankruptcy petition, Savient heads in to bankruptcy with $73 million in assets and $260 million in liabilities.  The company’s origins go back… Continue Reading

Nirvanix Files for Bankruptcy in Delaware, Citing a Lack of Financing

Posted in Bankruptcy Case Summaries

Introduction On October 1, 2013, Nirvanix, Inc. (“Nirvanix”) filed a chapter 11 petition for bankruptcy in the United States Bankruptcy Court for the District of Delaware. Nirvanix describes itself as a provider of “enterprise-class cloud storage services.” See Declaration of Nirvanix’s CEO in Support of Chapter 11 Petition and First Day Motions at *2. Nirvanix’s… Continue Reading

Fresh & Easy Files for Bankruptcy in Delaware Seeking to Sell Substantially All Assets

Posted in Bankruptcy Case Summaries

Introduction On Monday, Fresh & Easy Neighborhood Market (“Fresh & Easy”) filed chapter 11 petitions for bankruptcy in the United States Bankruptcy for the District of Delaware. Fresh & Easy is a grocery chain with stores in California, Nevada and Arizona. See Fresh & Easy’s Declaration in Support of First Day Motions and Applications (the… Continue Reading

Furniture Brands Files for Bankruptcy in Delaware Seeking to Sell Assets

Posted in Bankruptcy Case Summaries

Introduction On September 9, 2013, Furniture Brands International (“Furniture Brands”) and various related entities filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware. Faced with a slowing economy and mounting debt, Furniture Brands hopes to sell some most of its assets through a section 363 bankruptcy auction.… Continue Reading

A Closer Look at the Longview Power Bankruptcy

Posted in Bankruptcy Case Summaries

Introduction On August 30, 2013, Longview Power, LLC, and various related entities (collectively, “Longview”), filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  According to the Declaration of Longview’s CEO (the “Declaration” or “Decl.”), Longview was formed in 2003 for the purpose of building and operating a 700… Continue Reading

Exide Technologies Files for Bankruptcy in Delaware

Posted in Bankruptcy Case Summaries

Introduction On June 10, 2013, Exide Technologies (“Exide” or “Debtor”) filed a petition for bankruptcy under Chapter 11 of the United States Bankruptcy Code. Exide filed for bankruptcy in the United States Bankruptcy Court for the District of Delaware. With operations in over 80 countries, Exide describes itself as “a global leader in stored electrical energy solutions… Continue Reading

A Closer Look at the Synagro Technologies Bankruptcy

Posted in Bankruptcy Case Summaries

Introduction On April 24, 2013, Synagro Technologies ("Synagro") and various affiliates filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  Synagro recycles biosolid and organic materials generated by municipal and industrial waste water treatment centers.  The company describes its services to include "drying and pelletization, composting, incineration,… Continue Reading

Yarway Files for Bankruptcy, Citing Asbestos-Related Litigation

Posted in Bankruptcy Case Summaries

Introduction On Monday, April 22, 2013, Yarway Corporation filed a chapter 11 petition for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  According to papers filed by Yarway with the Bankruptcy Court, the company’s origins go back to 1908 when it started manufacturing pipe clamps, steam traps and valves.  See Yarway’s… Continue Reading

The Scooter Store Files for Bankruptcy in Delaware, Citing Government Regulations and Investigations

Posted in Bankruptcy Case Summaries

Introduction On Monday, April 15, 2013 (the "Petition Date"), The Scooter Store Holdings, Inc. (the "Scooter Store" or "Debtor"), and various related entities filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  Based in New Braunfels, Texas, Scooter Store is one of the nation’s largest providers of… Continue Reading

A Summary of the Rotech Healthcare Bankruptcy

Posted in Bankruptcy Case Summaries

Introduction Earlier today, Rotech Healthcare ("Rotech"), filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  According to a declaration filed by Rotech’s President and CEO (the "Declaration" or "Decl."), Rotech describes itself as "one of the largest providers of home medical equipment and related products and services… Continue Reading

Pool Supplier, NAMCO, Files for Bankruptcy In Delaware

Posted in Bankruptcy Case Summaries

Introduction On March 24, 2013, NAMCO, LLC ("NAMCO") filed a chapter 11 petition for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  Based in Manchester, Connecticut, NAMCO sales swimming pool accessories and equipment throughout the Northeast and Mid-Atlantic United States.  See Declaration of Lee Diercks in Support of Chapter 11 Petition and… Continue Reading