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.
The Delaware Bankruptcy Court (“Bankruptcy Court”) recently issued a ruling that provides additional clarity regarding the treatment of “appraisal rights” in bankruptcy proceedings and the scope of section 510(b) of the Bankruptcy Code. In In reRTI Holding Company, LLC, et al., (decided August 4, 2021) the Bankruptcy Court subordinated the general unsecured claims filed by holders of “appraisal rights” in respect of the debtors’ equity (the “Claimants”).
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
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.
Each week, Crowell & Moring’s State Attorneys General team highlights significant actions that State AGs have taken. Here are this week’s updates.
Monday, July 19, 2021
Bankruptcy
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.
Late on July 6, 2021, MatlinPatterson Global Opportunities Partners II L.P., 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. 21-11255).
On July 2, 2021, Something Sweet, Inc., a New Haven, Connecticut-based bakery that “provides high quality pies and cakes to the largest retailers in the country,” filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-10993). The company estimates $10 to $50 million in assets and liabilities.
On June 25, 2021, Inversiones CG Financial Chile Dos S.P.A. and certain affiliates, which manage investments in mainly Chilean financial institutions, filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-10968). The company estimates $500 million to $1 billion in assets and $1 billion to $10 billion in liabilities.