On August 30, 2021, BL Santa Fe, LLC, along with one affiliated debtor doing business as Bishops Lodge, an Auberge Resorts Collection luxury hotel and resort located in Santa Fe, New Mexico, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-11190). The company reports $50 to $100 million in both assets and liabilities.

On August 17, 2021, Basic Energy Services, L.P., along with several affiliates that provide operational support for oil and gas wells located in several US states, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of Texas (Case No. 21-90001). The company reports $100 to 500 million in assets and $500 million to $1 billion in liabilities.

On August 15, 2021, Aluminum Shapes LLC, a Delair, New Jersey-based aluminum fabricator and processing company, filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of New Jersey (Case No. 21-16520). The company estimates $10 to $50 million in assets and liabilities.

On August 12, 2021, nursery and landscaping company Moon Group of Chesapeake City, MD filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-11140). According to the petition, several affiliates are also expected to file. The company reports up to $50,000 in assets and $10 million to $50 million in liabilities.

On August 1, 2021, Alpha Latam Management, LLC, a Miami-based financial services company that historically provides consumer loans in Latin America, along with certain affiliates, filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case 21-11109).  The company reports $100 million to $500 million in estimated assets and $500 million to $1 billion in estimated liabilities.  As described further in the 

The U.S. Bankruptcy Appellate Panel for the Eighth Circuit vacated the bankruptcy court’s order confirming a farm debtor’s chapter 12 plan, concluding that the bankruptcy court erred by failing to hold an evidentiary hearing to determine the value of a bank’s collateral where the collateral was disputed. The Panel also concluded that the bank needed to file a proof of claim.

On July 29, 2021, GBG USA, Inc., along with several affiliates, filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Lead Case No. 21-11369). The ultimate parent company of GBG USA, Inc.

The U.S. Court of Appeals for the Ninth Circuit recently reversed a trial court’s order granting summary judgment in favor of the buyer at a homeowners association’s non-judicial foreclosure sale that was conducted in violation of the automatic stay in the borrower’s bankruptcy, and against a mortgagee whose interest in the foreclosed property would have been extinguished.

In so ruling, the Ninth Circuit held that a first deed of trust lienholder may set aside a completed super-priority lien foreclosure sale if the sale violates the bankruptcy automatic stay.

The last year and a half was a time to be remembered in bankruptcy law. It started with an eye on increasing the ability of small businesses to utilize the Chapter 11 process in a more efficient and less expensive way, which led to a record number of commercial filings, a reduction in consumer filings, and a test of the bankruptcy system. What will the second half of 2021 look like?

On July 8, 2021, Pipeline Foods, LLC, along with several affiliates, which operate a Minnesota-based organic food supply chain company, filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-11002). The company estimates $100 to $500 million in assets and liabilities.