Header graphic for print
Delaware Bankruptcy Litigation Information on Corporate Bankruptcy Proceedings in Delaware and Throughout the United States

Tag Archives: creditor rights attorney

Ormet Corporation Files for Bankruptcy in Order to Facilitate Sale of Assets

Posted in Bankruptcy Case Summaries

Background On February 25, 2013 (the "Petition Date"), Ormet Corporation and various related entities filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  As stated in the company’s Declaration in Support of First-Day Motions and Applications (the "Decl.") at *4, Ormet began in 1956 as an aluminum manufacturer at… Continue Reading

Handy Hardware Seeks to Reorganize in Delaware Bankruptcy Court

Posted in Bankruptcy Case Summaries

Background On January 11, 2013, Handy Hardware Wholesale, Inc. ("Handy" or the "Debtor") filed a chapter 11 petition for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  As stated in Handy’s court filings, the company is a wholesale purchaser of hardware supplies which it in turn sells to its members at a… Continue Reading

Penson Worldwide Files for Bankruptcy in Delaware

Posted in Bankruptcy Case Summaries

Introduction On January 11, 2013, Penson Worldwide ("Penson"), a clearing and settlement provider for the investment trading industry, filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  In papers filed with the Bankruptcy Court, Penson describes itself as a company that provides "execution, clearing, custody, settlement, and… Continue Reading

Energy Producer, AES Thames LLC, Files for Bankruptcy in Delaware

Posted in Bankruptcy Case Summaries

Introduction On February 1, 2011, AES Thames, LLC ("AES" or "Debtor") filed petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  According to the Declaration of AES’s President in Support of First Day Motions (the "Declaration"), AES owns and operates a coal-fired power plant in Montville, Connecticut.  This post will look briefly at AES’s business, why the… Continue Reading

LandSource Communities Development Commences Preference Actions

Posted in Preference Litigation

 Introduction Recently, the LandSource Creditor Litigation Liquidating Trust (the "Litigation Trust"), commenced various avoidance actions in the United States Bankruptcy Court for the District of Delaware.  This post will look briefly at the events leading to the commencement of this bankruptcy proceeding. Further, the post will look at some of the issues that confronted the… Continue Reading