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

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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

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

Lithium-ion Battery Manufacturer, A123 Systems, Files for Bankruptcy in Delaware

Posted in Bankruptcy Case Summaries

On October 16, 2012, battery maker A123 Systems, Inc., and various subsidiaries, filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  A123 started its business in 2001 seeking to capitalize on the growing use of lithium-ion batteries in transportation and energy systems.  According to papers filed with… Continue Reading

Auto Dealership Files Bankruptcy Following State Court Verdict

Posted in Bankruptcy Case Summaries

On March 21st, Blue Springs Ford ("Blue Springs") filed a chapter 11 petition for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  Based in Blue Springs, Missouri, Blue Springs has operated as an authorized Ford dealership since 1978.  Like most dealerships, the company sells and services Ford vehicles and provides general… Continue Reading

Pemco World Air Services Files Bankruptcy, Intending to Sell Aircraft Maintenance and Conversion Business

Posted in Bankruptcy Case Summaries

Introduction On March 5, 2012, Pemco World Air Services ("Pemco"), filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  According to the Declaration of Pemco’s CFO (the "Declaration"), Pemco describes itself as "an industry leader in maintenance, repair and overhaul for wide and narrow body aircraft and… Continue Reading

Security National Properties Files for Bankruptcy in Delaware, Citing Unpredictability of the Financial Markets

Posted in Bankruptcy Case Summaries

Introduction On October 17, 2011, commercial real estate developer Security National Properties Funding III, LLC ("Security National"), and certain affiliates filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  Based in Eureka, California, Security National owns and operates 33 commercial properties in fifteen states across the U.S. … Continue Reading

Wolverine Tube Files Bankruptcy, Hoping to Confirm Prearranged Plan

Posted in Bankruptcy Case Summaries

Introduction On October 31, 2010, Wolverine Tube, Inc. ("Wolverine") filed petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  According to the Declaration of Wolverine’s President in Support of Debtors’ Petitions (the "Declaration"),  the company’s bankruptcy filing resulted from several factors, most notably a drop in cash due to volatility… Continue Reading

Banning Lewis Ranch Development Files for Bankruptcy in Delaware

Posted in Bankruptcy Case Summaries

On October 28, 2010, Banning Lewis Ranch Co. LLC and Banning Lewis Ranch Development I & II, LLC (collectively, "Banning"), filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  A copy of one of the Banning bankruptcy petition is available here for review.  Banning owns over 21,000… Continue Reading

Sports Equipment Manufacturer, Schutt Sports, Files for Bankruptcy in Delaware

Posted in Bankruptcy Case Summaries

Introduction On September 6, 2010, Schutt Sports ("Schutt" or the "Debtor") filed petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  This post will look briefly at the nature of Schutt’s business, why it filed for bankruptcy and what it hopes to achieve while in bankruptcy.  As is often the case,… Continue Reading

A Closer Look at the Iseli Nursery and Weeks Wholesale Bankruptcies

Posted in Bankruptcy Case Summaries

Introduction On October 4, 2010, International Garden Products filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  International Garden Products ("IGP") is the parent company of Iseli Nursery ("Iseli") and Weeks Wholesale Rose Grower ("Weeks").  As affiliates of IGP, Iseli and Weeks also filed petitions for relief and are… Continue Reading

Decision in Eclipse Aviation Addresses Subject Matter Jurisdiction of the Bankruptcy Court

Posted in Bankruptcy Law Basics

Introduction On August 4, Judge Mary F. Walrath issued an opinion in the Eclipse Aviation bankruptcy that discusses the scope of the Court’s subject matter jurisdiction.  This issue – the subject matter jurisdiction of the bankruptcy courts - comes up less frequently in decisions than issues such as plan confirmation, relief from stay or avoidance actions (to name a few).  Often,… Continue Reading

Liquidating Trustee of Intermet Corporation Files Preference Actions in Delaware

Posted in Preference Litigation

Introduction Earlier this month, the Liquidating Trustee in the Intermet bankruptcy filed preference actions against various defendants.  This post will look at the nature of Intermet’s business, why the company filed for bankruptcy and the circumstances behind the formation of the Liquidating Trust that is pursuing the preference actions. As I often do on this blog, much of… Continue Reading

Litigation Trustee in SemCrude Files Preference Complaints

Posted in Preference Litigation

Earlier this month, Bettina M. Whyte, the SemGroup Litigation Trustee (the "Trustee") filed approximately 350 adversary actions against various creditors in the SemCrude bankruptcy.  The majority of the adversary actions are preference actions under 11 U.S.C. section 547 of the United States Bankruptcy Code.  Some of the adversary actions, however, allege defendants received fraudulent transfers from various SemCrude debtors… Continue Reading

North American Petroleum Corporation Files for Bankruptcy in Delaware Following Dispute With Enterra Energy

Posted in Bankruptcy Case Summaries

Introduction North American Petroleum Corp ("North American") filed for bankruptcy protection in the United States Bankruptcy Court for the District of Delaware on May 26, 2010.  According to North American’s Declaration in Support of First Day Motions (the "Declaration"),  the company describes itself as an "exploration and production company which predominantly engages in unconventional well… Continue Reading

Regent Communications Files for Bankruptcy, Seeking to Pay General Unsecured Claims in Full

Posted in Bankruptcy Case Summaries

Regent Communications, a radio broadcasting company that operates 62 stations throughout the U.S., filed chapter 11 bankruptcy petitions in the Delaware Bankruptcy Court on March 1, 2010.  According to documents filed in support of Regent’s bankruptcy petitions, the company enters bankruptcy with a pre-bankruptcy restructuring agreement that is supported by a large majority of Regent’s… Continue Reading