Information on Corporate Bankruptcy Proceedings in Delaware and Throughout the United States
Introduction
As more companies file for bankruptcy, creditors and other interested parties of a debtor must quickly familiarize themselves with the automatic stay. Section 362(a)(1) of the Bankruptcy Code stays “the commencement or continuation … of a judicial, administrative, or other action or proceeding against the debtor that was or could have been commenced before…
Introduction
On August 20, 2010, Petroflow Energy Ltd. (“Petroflow”), filed a petition for bankruptcy in the United States Bankruptcy Court for the District of Delaware. Months prior to Petroflow’s filing for bankruptcy, the company’s subsidiaries, North American Petroleum Corporation USA and Prize Petroleum LLC, filed petitions for bankruptcy in Delaware. After Petroflow filed for…
Earlier this month Alfred T. Giuliano, the Chapter 7 Trustee for National Wholesale Liquidators, began filing various complaints seeking the avoidance and recovery of alleged preferential transfers. On November 19, 2008, I wrote on this blog about the commencement of the National Wholesale Liquidators (“NWL”) bankruptcy (read my prior post concerning NWL here). As…
