Chapter 11

News & Analysis as of

Delaware Organizational Meeting – Verengo, Inc.

Upcoming Committee Formation Meeting: Wednesday, October 5, 2016, 10:00 a.m. Case Name: Verengo, Inc. Case Number: 16-12098 (BLS)...more

Chapter 12 family farmer cases in Missouri: A look inside the numbers

Chapter 12 of the Bankruptcy Code, enacted in 1987, provides relief to family farmers facing financial distress. Chapter 12 is available exclusively for family farmers that want to reorganize their financial affairs. While...more

Global Tax News: Hard times in the oil patch: tax implications for investors in the era of price fluctuations

The current decline in oil prices, which continues to show no signs of a long-term reversal, is having a great many unexpected and unwanted consequences, many of which may turn into long-lasting troubles for the oil and gas...more

Valuation of affordable housing projects in bankruptcy – a muddied landscape

Just when courts appeared to be developing a consensus on how to value affordable housing projects in bankruptcy, an opinion from the 9th Circuit Court of Appeals has muddied the landscape. In In re Sunnyslope Housing Ltd....more

New Delaware Chapter 11 Filing – Verengo, Inc.

Verengo, Inc., a well-known installer of residential solar power systems, filed for Ch. 11 in the United States Bankruptcy Court for the District of Delaware (Case No. 16-12098). Verengo attributes its filing to quality...more

Delaware Organizational Meeting – Delivery Agent, Inc.

Upcoming Committee Formation Meeting: Thursday, September 29, 2016, 10:00 a.m. Case Name: Delivery Agent, Inc. Case Number: 16-12051 (LSS)...more

Delaware Organizational Meeting – NJOY, Inc.

Upcoming Committee Formation Meeting: Tuesday, September 27, 2016, 2:00PM - Case Name: NJOY, Inc. Case Number: 16-12076 (CSS)...more

Delaware Organizational Meeting – Golfsmith International Holdings, Inc. et al.

Upcoming Committee Formation Meeting: Friday, September 23, 2016, 10:30AM - Case Name: Golfsmith International Holdings, Inc. et al. Case Number: 16-12033 (CSS)...more

New Delaware Chapter 11 Filing – NJOY, Inc. (16-12076)

NJOY, Inc., an e-cigarette and vaping company headquartered in Scottsdale, Arizona, has filed for chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware (Case No. 16-12076)....more

My Intellectual Property Licensor is Bankrupt – Now What?

Bankruptcy presents risks for, among many others, intellectual property (“IP”) licensees. Fortunately, there is a provision in the federal bankruptcy law that is designed to protect IP licensees when a licensor becomes...more

Hanjin Shipping Co., Ltd: Liquidation or a Different Path?

On September 1, 2016, a rehabilitation procedure was commenced in the Seoul Central District Court in respect of Hanjin Shipping Co., Ltd (Hanjin). This action followed many months of discussions between Hanjin and its...more

The Right To Countersecurity From A Debtor In Bankruptcy

U.S. maritime law offers a maritime plaintiff two principal means of obtaining security for its claims: Rule B attachment in respect of maritime claims, and Rule C arrest in respect of maritime liens. These rules are...more

Singapore: Asia Pacific’s Debt Restructuring Hub?

Earlier this year the Committee to Strengthen Singapore as an International Centre for Debt Restructuring (the “Committee”) published, and the Singapore Ministry of Law accepted, recommendations aimed at enhancing Singapore’s...more

Noble Environmental Power, LLC Files Chapter 11

Noble Environmental Power, LLC filed a chapter 11 petition in the United States Bankruptcy Court for the District of Delaware on September 15, 2016. The case has been assigned to The Honorable Brendan Linehan Shannon, and...more

New Delaware Chapter 11 Filing – Noble Environmental Power, LLC

Noble Environmental Power, LLC, and several of its affiliates filed for Chapter 11 protection in the Bankruptcy Court for the District of Delaware (Lead Case No. 16-12055). Noble, a renewable energy company that owns and...more

Golfsmith Hits Into Trouble: Enters Chapter 11

On September 14, 2016, Golfsmith International Holdings, Inc. and twelve affiliates filed a Chapter 11 petition in the United States Bankruptcy Court for the District of Delaware. The case, docketed as 16-12033, has been...more

New Delaware Chapter 11 Filing – Delivery Agent, Inc. et al.

Delivery Agent, Inc., a provider of one of the leading and most advanced entertainment platforms to monetize entertainment content based in San Francisco, CA, and three of its affiliates have filed for chapter 11 bankruptcy...more

Delivery Agent, Inc. Files Chapter 11; Will Seek to Sell

On September 15, 2016, Delivery Agent, Inc. and three affiliates, Musictoday, LLC, Clean Fun Promotional Marketing, Inc., and Shop the Shows, LLC, filed chapter 11 petitions in the United States Bankruptcy Court for the...more

New Delaware Chapter 11 Filing – Golfsmith International Holdings, Inc. et al.

Golfsmith International Holdings, Inc., a golf clothing and equipment retailer based in Austin, Texas, and twelve of its affiliates have filed for chapter 11 bankruptcy protection before the United States Bankruptcy Court for...more

New Delaware Chapter 11 Filing – ScripsAmerica, Inc.

ScripsAmerica, Inc. (OTCBB: SCRC) has filed a chapter 11 petition before the United States Bankruptcy Court for the District of Delaware (Case No. 16-11991). The case has been assigned to the Honorable Laurie Selber...more

Secured Creditors Can Chill a Bit Following Aeropostale Ruling

The ability of a secured creditor to credit bid its debt in connection with a sale of a debtor’s assets received a strong boost in a decision last month in the Chapter 11 case of Aeropostale from U.S. Bankruptcy Judge Sean...more

Company's Position Taken in Bankruptcy Voids Noncompete Obligations

The Delaware Court of Chancery's decision in Hipcricket v. mGage, C.A. No. 11135-CB, (Del. Ch. July 15, 2016), highlights the importance of coordinating the positions taken in different legal proceedings. The plaintiff in...more

New proposals to develop the rescue finance market: new beginnings, or an old chestnut?

On 25 May 2016, the Insolvency Service published a consultation paper aimed at reforming various aspects of the UK's corporate insolvency regime. It has now collected responses from various interested parties including...more

Involuntary Bankruptcy Primer Part I: Understanding the Oft Ignored Involuntary Bankruptcy Petition (with Bankruptcy Cave Embedded...

Involuntary bankruptcy is an underused but potentially powerful tool in the Bankruptcy playbook. Although the process to initiate an involuntary case is relatively straightforward (and has been largely unchanged for...more

Points & Authorities - Summer 2016

There Ought to be a Law: Consider This Alternative To Litigation - Government is becoming more intrusive. At the state and federal levels, a host of agencies and departments continuously create new rules for us to live...more

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