Review of Bankruptcy Proceedings and Legal Developments in Delaware and Throughout the Country
There has been no shortage of significant bankruptcy filings in 2020 as a result of the ongoing pandemic. Large companies such as J.C. Penney, Brooks Brothers, Lucky Brand, GNC, subsidiaries of Regus, and others, have all filed for bankruptcy protection, citing the coronavirus for sharply reduced sales at their brick and mortar stores.
These filings…
In October 2019, Bayou Steel BD Holdings, LLC, and its affiliated debtors (“Bayou Steel” or “Debtors”) filed for bankruptcy before the District of Delaware. By way of background, the company sought protection from creditors after a “severe lack in liquidity” led to a default on its senior secured debt. Bayou, which produces steel products like…
In the recent decision of In re MTE Holdings, LLC, et al., Case No. 19-12269 (CSS) (Del. Bankr. June 8, 2020), the Delaware Bankruptcy Court determined whether a landowner that leases mineral rights to a debtor is entitled to an administrative claim against the debtor for accessing its land and installing a tank battery. …