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
The United States Bankruptcy Court for the District of Delaware issued an Order establishing Bar Dates for filing proofs of claim in Subchapter V Cases. The Bar Dates are set at the filing of the case for creditors and governmental units. The Bar Dates are 60 days and 180 days, respectively from the date of
On September 1, 2020, the United States District Court for the District of Delaware issued a Standing Order Re: Criminal and Civil Jury Selections; Jury Trial; and Transition to Phase 2. Per the Standing Order, the Delaware District Court will move into Phase 2 starting September 15, 2020, which permits the District Court to
Tonopah Solar Energy LLC, the owner of a Nevada solar energy power plant, filed for bankruptcy on on July 30th before the United States Bankruptcy Court for the District of Delaware. According to its petition, the debtor has between $100 million and $500 million in liabilities.
Tonopah Solar Energy LLC still owes $425 million on
IMH Financial Corporation (“IMH” or the “Company”) has recently filed for chapter 11 bankruptcy protection before the United States Bankruptcy Court for the District of Delaware.
IMH is a real estate investment holding company with assets consisting of: (i) the MacArthur Place Hotel & Spa in Sonoma California, (ii) thousands of undeveloped acreage and related
On July 28, 2020, an involuntary bankruptcy petition was filed against SonoCiné, Inc., an imaging ultrasound company. A copy of the involuntary petition can be found here. According to the petition, Global Link Medical Group, Inc. possesses a claim against the debtor for over $1.5 million.
Under Section 303 of the Bankruptcy Code, a
Global Eagle Entertainment Inc. filed for bankruptcy in Delaware on Wednesday, July 22, 2020, becoming the latest travel-related bankruptcy during the pandemic. Global Eagle provides Wi-Fi services to airlines and ships, and plans to turn ownership over to Apollo Global Management Inc. and other lenders.
The debtors receive approximately a fifth of their revenue from
The United States District Court for the District of Delaware recently issued a Revised Standing Order Concerning the Use of Face Mask and Coverings in Public Areas of the District and Bankruptcy Court. Per the Revised Standing Order, court staff are required to wear a face mask when interacting with the public. Likewise, visitors
Background on the Debtors
The iconic retail brand, Brooks Brothers, filed for Chapter 11 bankruptcy protection on Wednesday, July 8, 2020 in the Delaware Bankruptcy Court.
Founded in 1818, Brooks Brothers is one of the country’s oldest retailers. In light of the coronavirus, rent had become a significant burden for the retailer. To date, Brooks
Lucky Brand became the latest retailer to seek bankruptcy protection when it filed for chapter 11 protection in the United States Bankruptcy Court for the District of Delaware on Friday, July 3rd. Lucky Brand joins J.Crew, Neiman Marcus and J.C. Penney, all of which filed for bankruptcy during the pandemic.
Matthew A. Kaness, Lucky Brand