Introduction

Recently, the Plan Administrator for the Goody's Family Clothing bankruptcy commenced adversary actions against various defendants in the United States Bankruptcy Court for the District of Delaware. The Goody's Plan Administrator was appointed pursuant to Goody's plan of reorganization. The Bankruptcy Court approved Goody's plan on October 7, 2008, approximately four months after the company filed for bankruptcy.

Goody's Second Bankruptcy Filing

On January 22nd, Affiliated Media, Inc. (the "Debtor" or "Affiliated"), filed a chapter 11 petition for bankruptcy in the United States Bankruptcy Court for the District of Delaware. According to documents filed with the Bankruptcy Court, the Debtor's operations include daily and weekly newspapers, "niche publications," internet websites, four radio stations and a television station in Alaska. Affiliated's bankruptcy follows a drop in revenue from $1.3 billion in 2007 to $1.06 billion in 2009.

On October 17, 2012, Back Yard Burgers, Inc.

In June, Northstar Aerospace and various related entities (collectively, "Northstar") filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  Northstar describes itself as a supplier of "components and assemblies for the commercial and military aerospace markets."  The company also provides machining, repair and overhaul services for the aerospace industry.  See Northstar's Declaration in Support of First Day Motions

Introduction

Introduction

Introduction

In 1984 a Third Circuit panel decided that the automatic stay did not apply to a right to payment which arose under applicable state law after a bankruptcy petition was filed. Avellino & Bienes v. M. Frenville Co., 744 F.2d 332 (3d Cir. 1984). The Third Circuit tradition is that the holding of a panel in a precedential opinion is binding on subsequent panels. Until this year Frenville remained good Third Circuit law notwithstanding universal rejection by other circuits.

Recently, the LandSource Creditor Litigation Liquidating Trust (the "Litigation Trust"), commenced various avoidance actions in the United States Bankruptcy Court for the District of Delaware. This post will look briefly at the events leading to the commencement of this bankruptcy proceeding. Further, the post will look at some of the issues that confronted the Debtor during the reorganization process.

Background

Introduction