Preferred Communication Systems, Inc. (“PCSI” or “Debtor”) filed for chapter 7 bankruptcy before the United States Bankruptcy Court for the District of Delaware on July 28, 2021.
This bankruptcy proceeding constitutes a rare example of a debtor listing more assets than debt. Per PCSI’s Schedules, the Debtor lists approximately $1.1 million in assets, and…
Earlier this month, on July 8, 2021, Pipeline Foods, LLC and its affiliated debtors (“Pipeline”) filed for Chapter 11 protection in the United States Bankruptcy Court for the District of Delaware. The debtors’ bankruptcy cases are jointly administered before the Honorable Karen B. Owens under Case No. 21-11002.
Pipeline’s Chief Executive Officer, Anthony Sepich,…
Recently, on July 13, 2021, the Chief Judge of the United States District Court for the District of Delaware issued a Revised Standing Order lifting the requirement that face masks be worn in public areas of the courthouse by those who are fully vaccinated against COVID-19. The Revised Standing Order impacts each of the courthouses…
On April 6, 2021, J. Kate Stickles was sworn in as the newest judge of the United States Bankruptcy Court for the District of Delaware. Judge Stickles becomes the latest judge to join the Delaware Bankruptcy Court since Judges John T. Dorsey and Karen B. Owens were sworn onto the bench in 2019.
Judge Stickles…
Another energy company has succumbed to bankruptcy in the wake of the Covid-19 pandemic.
Nine Point Energy Holdings, Inc., a private exploration & production company focused on the Williston Basin, and its affiliates, including Foxtrot Resources LLC, filed for chapter 11 protection in the United States Bankruptcy Court for the District of Delaware, on March…
Wardman Hotel Owner LLC (“Wardman” or “Debtor”) filed for Chapter 11 bankruptcy on January 11, 2021, ending its management contract with Marriott International. The Chapter 11 petition was filed in the U.S. Bankruptcy Court for the District of Delaware.
The Wardman Park, one of the largest hotels in Washington, D.C. with 1,152 rooms, opened in…
On December 16, 2020, In-Shape Holdings, LLC and two affiliated debtors (together, the “Debtors” or “In-Shape”) filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code. In-Shape Holdings, LLC is a health club operator in Stockton, CA.
The company reports $50 to $100 million in assets and more than $100 million…
Starting on October 14, 2020, NSC Wholesale Liquidating Trust (“NSC Trust”), the liquidation trust appointed by the by the United States Bankruptcy Court for the District of Delaware to prosecute claims on behalf of the NSC estate, filed approximately 62 complaints seeking the avoidance and recovery of allegedly preferential and/or fraudulent transfers under Sections 547,…
The Delaware Bankruptcy Court issued a notice stating that the comment period for its Local Rules is currently open. Per the notice, the comment period is open from October 1 through October 30, 2020.
A current version of the Local Rules of the Delaware Bankruptcy Court, effective February 1, 2020, can be found here.…
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…
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