Information on Corporate Bankruptcy Proceedings in Delaware and Throughout the United States
Introduction
On January 28, 2013 (the “Petition Date”), School Specialty, Inc, (“School Specialty” or “Debtor”), along with various affiliated entities, filed chapter 11 petitions for bankruptcy with the Delaware Bankruptcy Court. According to the Declaration of School Specialty’s Chief Administrative Officer, the company is one of the largest suppliers of educational products, equipment and curriculum…
Introduction
On January 21, 2013, Carl’s Patio, Inc., and various related entities, filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the district of Delaware. Carl’s Patio started in 1993 and describes itself in court filings as “one of the leading retailer merchandisers of upscale outdoor furniture and accessories in the…
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…
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…
Introduction
In July of 2011, the Chapter 7 Trustee (the “Trustee”) in the Ultimate Acquisition Partners (formerly “Ultimate Electronics”) bankruptcy began filing complaints to avoid and recover payments which the Trustee alleged were avoidable transfers under section 547 of the United States Bankruptcy Code. Earlier this month, the Trustee filed another round of preference complaints…
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…
Introduction
On October 29, 2012, First Place Financial Corp., the holding company for First Place Bank (collectively, “First Place Bank” or “First Place”), filed Chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware. Based in Warren, Ohio, First Place Bank is a federally chartered stock savings association…
Introduction
Earlier this month, William Giovanniello, acting as the creditor trustee (the “Trustee”) for Raser Technologies (“Raser”), began filing complaints seeking to avoid and recover what the Trustee contends are preferential transfers under 11 U.S.C. sec. 547. Often, defendants receive preference complaints and have little or no information about the underlying bankruptcy proceeding and the…
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…
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…
