Fox Rothschild LLP

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,…

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…

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…

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…

Last week, Charles M. Forman, acting as Chapter 7 Trustee (the “Trustee”) for Open Range Communications (“Open Range”) began filing complaints to recover what the Trustee contends are avoidable preferences. The Trustee filed the preference actions in the Delaware Bankruptcy Court and argues that the transfers, or payments, received by various defendants are avoidable and…

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…

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…

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…

Introduction

Earlier this month, Pirinate Consulting Group LLC, in its capacity as Litigation Trustee (the “Trustee”) of the NewPage Creditor Litigation Trust, began filing complaints in the Delaware Bankruptcy Court seeking the avoidance and recovery of what the Trustee alleges are preferential transfers.  All total, the Trustee filed over 780 preference complaints. In 2011, I…

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.