Transportation Bankruptcy

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Fortress Affiliate Believed to Bid on MM&A Railway

An affiliate of investment firm Fortress Investment Group LLC is believed to have made a play to acquire the Montreal, Maine & Atlantic Railway Ltd., which was involved in a deadly crash this past summer, out of bankruptcy...more

Montreal, Maine and Atlantic Railway rehiring workers thanks to $3 million loan

Thanks to a recent $3 million loan, workers are being rehired by the bankrupt railway that owned the runaway train that devastated a Canadian town, killing 47 people, the railway’s court-appointed trustee said Monday. ...more

US, Canadian judges coordinate railroad bankruptcy; focus is on compensating Lac-Megantic victims, trustee says

The adoption of cross-border protocols by judges in Canada and the U.S. on Wednesday will allow the Montreal, Maine and Atlantic Railway bankruptcy to move forward so that the victims of the Lac-Megantic train disaster may...more

Restructuring & Beyond: The marine industry’s routes to safety: Survival strategies and new opportunities for companies, banks and...

Shipping has its fortunes anchored to the health of the global economy. As long as supply exceeds demand, there will be companies at risk of failure. More than four years into the industry’s downturn, market equilibrium...more

Are You “Betting the Company” Through Your Handling of Customer Funds or By Virtue of Transfer of Title Provisions Related to...

Two common types of arrangements between contracting parties can create excessive financial risk for a party. The first is a company serving as a middleman or payment agent by accepting funds from a customer and then...more

Clear Skies Seen Ahead for the American Airlines/U.S. Airways Merger

The recently announced merger of American Airlines and U.S. Airways creates a new carrier that is a behemoth by any measure. The combined airline will have revenues of $39 billion, slightly larger than the current revenue...more

Links To Free Copies Of Documents Filed In The Chapter 11 Bankruptcy Cases Of Overseas Shipholding Group, Inc., Et Al. (U.S....

Our newest website – www.courtreads.com – offers completely free access to over 150,000 documents filed in hundreds of the largest current corporate bankruptcy cases, including cases under chapter 9, chapter 11, and chapter...more

New Chapter 11 Case Alert: Valence Technology, Inc. $VLNC

In re Valence Technology, Inc. United States Bankruptcy Court, Western District of Texas Summary Valence Technology, Inc., a developer and manufacturer of proprietary phosphate-based lithium ion batteries, voluntarily...more

Bankruptcy Court Issues New Opinion Addressing First Day Critical Vendor Relief (In re O&S Trucking)

Read the Opinion Here: http://chapter11cases.com/new-bankruptcy-opinion-in-re-os-trucking-inc-bankr-court-wd-missouri-2012-case-no-12-61003-issue-first-day-critical-vendor-relief/ Summary: Company & Case Background O&S...more

Madlyn Primoff - Industries Facing Bankruptcy [Video]

Madlyn Primoff, Partner, Bankruptcy & Restructuring Practice, Kaye Scholer LLP, discusses the trends and developments likely to affect bankruptcy and distressed companies in 2012 and 2013. Primoff particularly focuses on what...more

Bankruptcy: A Cyclical Business [Video]

Madlyn Primoff, Partner, Bankruptcy & Restructuring Practice, Kaye Scholer, discusses the trends and developments likely to affect bankruptcy and distressed companies in 2012 and 2013. Primoff particularly focuses on what a ...more

SDNY Bankruptcy Court Tackles Jurisdiction of Federal Maritime Commission

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

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

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

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

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

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

*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

In re: General Motors Corporation

Debtor's Voluntary Petition for Protection of Chapter 11

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

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

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