USAE, LLC, f/k/a U.S. Aerospace LLC, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 17-11778). Based in Wilmington, DE, USAE produces aircraft assemblies, structural components and highly engineered, precision machined details for the U.S. Government, U.S. Airforce and companies such as Lockheed Martin and Boeing.
Takata Corporation, a Japanese corporation, as well as two of its subsidiaries and affiliates have filed a petition for recognition of a foreign main proceeding in the Bankruptcy Court for the District of Delaware (Case No. 17-11713).
True Religion Apparel, Inc., a company that designs, markets, sells and distributes premium fashion apparel through wholesale and retail channels, and four of its affiliates, has filed for chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware (Lead Case No: 17-11460).
TK Holdings, Inc., a subsidiary of Takata Corporation, and eleven (11) of its subsidiaries and affiliates have filed petitions for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 17-11375).
Keystone Tube Company, LLC and four affiliates, including A.M. Castle & Co. (OTC: CASL), HY-Alloy Steels Company, Keystone Service, Inc. and Total Plastics, Inc., have filed chapter 11 petitions before the United States Bankruptcy Court for the District of Delaware (Lead Case No. 17-11330). The debtors are a specialty metals distribution company.
Major law changes intended to make Singapore the region’s pre-eminent restructuring and insolvency hub have now come into effect.
On 22 May 2017, the Singapore Ministry of Finance issued a notice that sections 22 to 34, 40, 41, 43, 45, 49, 50, 53(3) and (6) and 54 (the Relevant Sections) of the Companies (Amendment) Act 2017 (the Amendment Act) would come into operation on 23 May 2017.
The Singapore Government has just passed the Companies (Amendment) Bill 13/2017 (the Bill), which contains major changes to Singapore’s restructuring and insolvency laws. As planned, these changes are expected to come into effect at the latest by the second quarter of 2017,1 and will be a major shake-up to the restructuring landscape of the region.
Upcoming Committee Formation Meeting: Thursday, March 16, 2017, 1:00 p.m.
Case Name: 17-10500 (KJC)
Location: J. Caleb Boggs Federal Building 844 N. King Street 3rd Floor – Room 3209 Wilmington, DE 19801
On 1 February 2017, the Supreme Court of Singapore and the United States Bankruptcy Court for the District of Delaware announced that they will formally implement the Guidelines for Communication and Cooperation between Courts in Cross-border Insolvency Matters ("Guidelines").
On November 15, 2016, Texas-based Xtera Communications, Inc. and seven of its affiliates filed voluntary petitions for chapter 11 bankruptcy relief in the United States Bankruptcy Court for the District of Delaware (Case No: 16-12577). XTERA is a leading provider of high-capacity, cost-efficient optical transport solutions that it sells to telecommunications service providers.