Enduro Resource Partners LLC, along with five subsidiaries and affiliates, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-11174).

Nighthawk Production LLC and Oilquest USA LLC—affiliates of Nighthawk Royalties LLC, et al. (Lead Case No. 18-10989)—have filed petitions for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware. Cole Schotz’s coverage of Nighthawk’s filing can be found here.

The Rockport Company, LLC, along with nine (9) affiliates and subsidiaries, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-11145). Rockport, based in West Newton, MA, is a designer, distributor and retailer of comfort footwear in more than fifty (50) markets worldwide.

Arecont Vision Holdings, LLC, along with two affiliates and subsidiaries, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-11142). Arecont, based in Glendale, CA, is a developer and manufacturer of megapixel camera technology for security and surveillance use.

Gowling WLG's finance litigation experts bring you the latest on the cases and issues affecting the lending industry.

Interests of bankrupt's creditors remain paramount

In Pickard and another (Joint Trustees in Bankruptcy of Constable) v Constable, the question before the court was how exceptional the circumstances had to be to postpone an order for possession and sale of a property in which the bankrupt had a 50% share.

Short Summary

This month we consider the court's refusal to imply an obligation into a loan agreement that a lender should take steps in foreign proceedings to preserve security; the court's view on the failure to heed alarm bells in relation to potential undue influence; and more cases and issues affecting the industry.

No implied term in a loan agreement that creditor should take steps in foreign proceedings to preserve security

This month we consider the court's view on the extent to which firms' activities in handling complaints are themselves subject to adjudication by the Financial Ombudsman Service; the exercise of the court's discretion in refusing an unopposed application to annul a bankruptcy order; and more cases and issues affecting the industry:

The High Court considers the remit of the FOS's jurisdiction

Traditional DIP Order Carve Outs Do Not Cap the Administrative Claims of Committee Professionals

On January 6, 2017, Judge Robert D. Drain of the Bankruptcy Court for the Southern District of New York orally approved a prepackaged plan of reorganization (a “Prepack”) in In re Roust Corporation, et al. (Case No. 16-23786), only seven days after Roust Corporation (“Roust Corp”) and two of its affiliates, CEDC Finance Corporation LLC (“CEDC Finco”) and CEDC Finance Corporation International, Inc. (together with Roust Corp, the “Debtors”), filed petitions for relief under Chapter 11.