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