“On December 17, 2021, Tokyo-based specialty purpose vehicles JPA No. 111 Co., Ltd. and JPA No. 49 Co., Ltd. formed to acquire and lease Airbus A350 aircraft, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Case No. 21-12075). The company reports $100 to $500 million in both assets and liabilities.
On December 13, 2021, T.W. LaQuay Marine, LLC a Texas-based freight transporter on all inland waterways, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of Texas (Case No. 21-60101). The company reports $10 to $50 million in both assets and liabilities.
On December 14, 2021, All Year Holdings Limited, a Brooklyn-based real estate development, construction, acquisition, leasing and management firm, owned by Yoel Goldman, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Case No. 21-12051).
This week, the Ninth Circuit takes a close look at a sizable antitrust jury award, and explains what constitutes a tax “return” for purposes of bankruptcy law.
OPTRONIC TECHNOLOGIES, INC v. NINGBO SUNNY ELECTRONIC CO. LTD.
The Court held that sufficient evidence supported a jury verdict holding telescope manufacturers liable for antitrust violations.
On December 6, 2021, Strike, LLC of Woodlands, TX filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of Texas (Case No. 21-90054) along with several affiliates.
On November 17, 2021, Alto Maipo SpA, a Chile-based run-of-the-river project, which uses the natural flow of a river to generate electricity without the construction of a dam, along with subsidiary Alto Maipo Delaware LLC, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-11507). The company reports $1 billion to $10 billion in both assets and liabilities.
On November 16, 2021, Riverbed Technology, Inc., an information technology company headquartered in San Francisco, along with various affiliates, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-11503). The company reports $1 billion to $10 billion in both assets and liabilities.
On November 11, 2021, Carlson Travel, Inc. of Minnetonka, MN filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of Texas (Case No. 21-90017). Carlson Travel is a business travel management company offering traveler care, travel management, consulting, and booking services.
On November 8, 2021, ORG GC Midco LLC of Houston, TX filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of Texas (Case No. 21-90015).
This update summarises the latest jurisprudence on insolvent schemes of arrangement (schemes) and restructuring plans (RPs), and provides an overview of the key themes that are emerging in this area.
Key Concepts and Notes