SDNY Bankruptcy Court Tackles Jurisdiction of Federal Maritime Commission by Cadwalader, Wickersham & Taft LLP on 3/6/2012 On February 10, 2012, Judge Sean Lane of the United States Bankruptcy Court for the Southern District of New York denied the motion of 22 defendants in adversary proceedings filed by the Debtor, The Containership Company,...more
Shipping Newsletter - August 2011, Issue 28 by Reed Smith on 8/10/2011 In this issue: The Effect of Insolvency on a Charterparty; The Bribery Act 2010; Federal Maritime Commission Eases Rate Filing Requirements; Update: Sanctions Regimes; Case Study: Refusal of Orders to proceed to Yemen; Case...more
Omega Navigation Enterprises (ONAV) Voluntarily Files for Bankruptcy Protection in Texas by Randall Reese on 7/18/2011 A group of affiliated companies - Omega Navigation Enterprises, Inc.; Galveston Navigation Inc.; Beaumont Navigation Inc.; Carrolton Navigation Inc.; Decatur Navigation Inc.; Elgin Navigation Inc.; Fulton Navigation Inc.;...more
Florida Toll Bridge May Go Bankrupt by Tampa Bay Bankruptcy Center, P.A. on 2/7/2011 The $95 million Garcon Point Bridge stretches over East Bay in Santa Rosa County. It is in danger of defaulting on its debts and its ownership might be taken from the Santa Rosa Bay Bridge Authority. Senator Don Gaetz intends...more
Cargo Transportation Services, Inc. – Major Florida Trucking Company – Files for Chapter 11 Protection by Randall Reese on 1/14/2011 We have recently added the chapter 11 case of Cargo Transportation Services, Inc., which was filed on Wednesday in the Middle District of Florida, to our database. The company is a major trucking company with approximately...more
Rocketplane in Bankruptcy by Tampa Bay Bankruptcy Center, P.A. on 11/2/2010 Rocketplane, a pioneer in the space tourism industry has filed for Chapter 7 bankruptcy protection last month in Wisconsin, where it relocated after shutting down its operations in Oklahoma. The company, started by CEO George...more
TC Insolvency News - September 2010 by Thompson Coburn LLP on 9/10/2010 *TC Represents Lender in Lightning Fast Sale of Food Distributor Assets *TC Has Interdisciplinary Team for Low-Income Housing Tax Credit Deals *TC Represents Purchaser/DIP Lender in Franchisee’s Bankruptcy *TC Represents...more
netDockets Note: Las Vegas Monorail Company Not a Municipality, Eligible for Chapter 11 Protection by Randall Reese on 4/26/2010 On April 26, 2010, Bankruptcy Judge Bruce Markell of the District of Nevada bankruptcy court entered an opinion denying the motion of Ambac Assurance Company which sought the dismissal of the chapter 11 bankruptcy case of...more
In re Old Carco LLC (f/k/a Chrysler LLC) Notice of Winning Bidder for Twinsburg, Ohio Stamping Plant by Randall Reese on 3/10/2010 Old Carco LLC (formerly known as Chrysler LLC) announced the winning and back-up bidders for its stamping plant in Twinsburg, Ohio. Old Carco sought authority to sell the plant last month and the bankruptcy court approved...more
In re Las Vegas Monorail Co. Chapter 11 Voluntary Bankruptcy Petition by Randall Reese on 1/13/2010 The Las Vegas Monorail Company, a Nevada not-for-profit corporation which owns and operates a monorail system along the Las Vegas Strip, filed for chapter 11 bankruptcy protection yesterday. According to the company's...more
In re Accuride Corporation First Day Declaration of James H. Woodward, Jr. (CFO) by Randall Reese on 10/8/2009 Accuride Corporation and approximately 20 affiliates voluntarily filed pre-arranged chapter 11 cases this morning in Delaware. The bankruptcy cases of the companies, which manufacture automotive products including wheels,...more
In re Accuride Corporation Motion to Pay Employee Wages & Benefits by Randall Reese on 10/8/2009 Accuride Corporation and approximately 20 affiliates voluntarily filed pre-arranged chapter 11 cases this morning in Delaware. The bankruptcy cases of the companies, which manufacture automotive products including wheels,...more
In re Accuride Corporation Chapter 11 Voluntary Petition by Randall Reese on 10/8/2009 Accuride Corporation and approximately 20 affiliates voluntarily filed pre-arranged chapter 11 cases this morning in Delaware. The bankruptcy cases of the companies, which manufacture automotive products including wheels,...more
In re: General Motors Corporation Debtor's Voluntary Petition for Protection of Chapter 11 by Law Offices of Carl H. Starrett II on 6/1/2009 General Motors filed for Chapter 11 bankruptcy, listing $82.29 billion in assets and $172.81 billion in debt. It is the fourth largest bankruptcy in U.S. history....more
Shipping Industry Problems by Sheppard Mullin Richter & Hampton LLP on 2/9/2009 Most maritime shipping companies were operating profitably through the summer of 2008 until the "perfect storm" of the credit crisis and the worldwide recession struck, leading to the collapse of both the commodity and...more