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

Tag Archives: Delaware Bankruptcy Court

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

Graceway Pharmaceuticals Trustee Files Preference Complaints

Posted in Uncategorized

On September 13th, the Liquidating Trustee (the “Trustee”) in the Graceway Pharmaceuticals (“Graceway”) bankruptcy filed preference complaints against approximately 25 different defendants. The Trustee is seeking to avoid and recover what he contends are avoidable preferences under section 547 of the United States Bankruptcy Code.  Graceway filed chapter 11 petitions for bankruptcy on September 27,… 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

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

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

Majestic Holdco Opinion Discusses Excusable Neglect

Posted in Opinions

Summary In an 8 page decision signed February 21, 2013, Judge Gross of the Delaware Bankruptcy Court denied a Motion for Enlargement of Administrative Claim, holding that the movant failed to prove excusable neglect. Judge Gross’s opinion is available here (the “Opinion”). The Opinion analyzes the motion pursuant to the excusable neglect factors provided in… Continue Reading

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

Personal Injury or Wrongful Death Claims against Chapter 11 Debtors: How to Proceed

Posted in Bankruptcy Law Basics

Summary When a company files for bankruptcy, they gain a number of protections under federal law.  One of these protections is the “automatic stay” provided by 11 U.S.C. § 362. The automatic stay makes it illegal to continue prosecuting, or to initiate, an action against the debtor who is in bankruptcy.  Even if that debtor… 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

Preference Complaints filed in RG Steel Bankruptcy

Posted in Preference Litigation

Introduction Earlier this week, RG Steel Sparrows Point, LLC ("RG Steel"), began filing complaints to avoid and recover what it contends are preferential transfers under sections 547 and 548 of the United States Bankruptcy Code.  For those not familiar with this bankruptcy proceeding, RG Steel originally filed chapter 11 petitions for bankruptcy in the Delaware Bankruptcy Court… Continue Reading

Overseas Shipholding Group Files for Bankruptcy in Delaware

Posted in Bankruptcy Case Summaries

Introduction On November 14, 2012, Overseas Shipholding Group, Inc. ("OSG"), filed chapter 11 petitions for bankruptcy with the United States Bankruptcy Court for the District of Delaware.  OSG is a Delaware corporation and describes itself as a world leader in energy transportation.  See Declaration of OSG’s Sr. Vice President in Support of Chapter 11 Petitions (the… Continue Reading

Back Yard Burgers Files for Bankruptcy in Delaware

Posted in Bankruptcy Case Summaries

On October 17, 2012, Back Yard Burgers, Inc. (the "Debtor" or "Back Yard Burgers"), filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  Based in Nashville, Tennessee, Back Yard Burgers is a fast-food restaurant with 89 stores situated primarily in the southeastern United States.  See Debtor’s Declaration in… Continue Reading

A Closer Look at the Satcon Technology Bankruptcy

Posted in Bankruptcy Case Summaries

On October 17, 2012, Satcon Technology Corporation and various of its subsidiaries (collectively, "Satcon") filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  Satcon’s subsidiaries include Satcon Power Systems, Inc., Satcon Electronics, Inc., Satcon Power Systems, LLC, Satcon International and Satcon Technology.  As stated in Satcon’s Declaration filed… Continue Reading

Southern Air Files Chapter 11 Petitions for Bankruptcy in Delaware

Posted in Bankruptcy Case Summaries

On September 28, 2012, Southern Air Holdings ("Southern Air" or "Debtor"), along with various related entities, filed chapter 11 petitions in the United States Bankruptcy Court for the District of Delaware.  As stated in its Declarations in Support of Chapter 11 Petitions and First Day Relief (the "Declaration" or "Decl."), Southern Air describes itself as a… Continue Reading

Trustee Files Preference Actions in Moll Industries Bankruptcy

Posted in Preference Litigation

Earlier this week, George L. Miller, the chapter 7 trustee (the "Trustee") in the Moll Industries bankruptcy, began filng complaints seeking to avoid and recover what the Trustee alleges are avoidable transfers, or preference payments, from various third parties.  For those unfamiliar with Moll Industries, the company filed a chapter 11 petition for bankruptcy in… Continue Reading

Contec Holdings Files for Bankruptcy in Delaware

Posted in Bankruptcy Case Summaries

On August 29, 2012, Contec Holdings, Ltd ("Contec") and various related entities filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  Simultaneous with filing its bankruptcy petitions, Contec also filed with the Bankruptcy Court a declaration of the company’s Chief Restructuring Officer in support of its first… Continue Reading

What is the Basis for an Administrative Rent Claim?

Posted in Bankruptcy Law Basics

There are generally three types of claims in a bankruptcy proceeding: unsecured claims, secured claims and administrative expense claims. Section 503 of the Bankruptcy Code governs the allowance of administrative expense claims. Section 503 provides that "after notice and a hearing, there shall be allowed administrative expenses…, including the actual and necessary costs and expenses… Continue Reading

Delaware Bankruptcy Court Finds Bonus Plan Was Created in the Ordinary Course of Business

Posted in Recent Developments in Bankruptcy Law

On July 9, 2012, Judge Peter J. Walsh of the United States Bankruptcy Court for the District of Delaware issued a memorandum opinion (the "Opinion"), in the Blitz U.S.A. bankruptcy proceeding addressing whether an employee bonus plan is a transaction made in the ordinary course of business under 11 U.S.C. 363(c)(1).  The court issued the… Continue Reading

Low Steel Prices, High Commodity Prices and a Lack of Cash Force RG Steel to File for Bankruptcy

Posted in Bankruptcy Case Summaries

On May 30, 2012, RG Steel, LLC and various related entities (collectively "RG Steel" or "Debtors") filed petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  According to the Declaration of the company’s CFO (the "Decl."), RG Steel enters bankruptcy as the fourth largest flat-rolled steel company in the United States.  At full capacity, … Continue Reading