sale motion

Introduction

EZ Lube, LLC, the Santa Ana, California based quick lube operator, filed for chapter 11 bankruptcy protection on December 9, 2008 in the United States Bankruptcy Court for the District of Delaware.  Read the EZ Lube bankruptcy petition here.  According to EZ Lube’s Affidavit in Support of First Day Motions,  the Debtor operates 82 retail locations, the majority of which are located in Southern California.  EZ Lube began with one store in 1988 and implemented a business model whereby it opened new stores on leased property and acquired leasehold interests in all of the assets of the individually run stores.   At the time it filed for bankruptcy, EZ Lube employed approximately 1,000 employees including technicians, store managers, cashiers and service crew. …

Continue Reading A Closer Look at the EZ Lube Bankruptcy

As many are aware, NetVersant Solutions, Inc. ("NetVersant" or "Debtors"),  a provider of voice, video and data communication services, filed for bankruptcy in the United States Bankruptcy Court, District of Delaware, on November 19, 2008.  Contemporaneous with its bankruptcy,  NetVersant filed an adversary action with the Bankruptcy Court seeking injunctive relief against against a long list of suppliers and subcontractors who are currently working on projects with NetVersant’s customers.  NetVersant filed the adversary action in order to bar its suppliers and subcontractors from taking any action:

[T]o file, assert, collect on or otherwise enforce any lien, trust fund or other rights against any of the Debtors’ customers, any property owned or leased by any customer, any payment made or to be made by any customer under or with respect to any contract between any Debtor and any customer, or any cash or receivables of any Debtor for 60 days.  Read the NetVersant Complaint for Injunctive Relief here.

 

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Continue Reading NetVersant Solutions Seeks Injunction Against its Suppliers and Subcontractors in Anticipation of the Sale of Its Assets