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).
On October 31, 2021, PWM Property Management LLC, along with several affiliates that own premium commercial space in New York and Chicago, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-11445). The company reports $1 to 10 billion in assets and liabilities.
On October 26, 2021, Grupo Posadas S.A.B. de C.V., a Mexico City-based hospitality company, filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Lead Case No. 21-11831). Grupo Posadas owns, leases, operates, and manages resorts, hotels, and villas in urban and coastal areas of Mexico under several owned brands.
On October 19, 2021, Monster Investments, Inc., a Maryland-based real estate company, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Maryland (Case No. 21-16592). The company reports $10 million in assets and $16.5 million in liabilities.
On 10 October, the Dubai Court of First Instance issued a potentially ground-breaking judgment in respect of directors’ liability in the context of corporate insolvency.
In particular, in the matter of the liquidation of the public company Marka PJSC (“Marka”), the Court held the company’s board of directors and managers personally and jointly liable for the company’s outstanding debts, totalling close to AED 450 million.
On October 14, 2021, Gulf Coast Health Care of Pensacola, FL, a healthcare company with 27 skilled nursing centers and two assisted living locations throughout Florida, Georgia and Mississippi, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-11336).
On October 14, 2021, Teligent, Inc. of Iselin, NJ, a specialty generic pharmaceutical company, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-11332). As of August, 31st, the company reports $85 million in assets and $135.8 million in total debts.
On October 5, 2021, CalPlant I Holdco, LLC, which manufactures alternative-source, medium-density fiberboard in its Willows, California facility, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-11303). The company reports $100 to 500 million in assets and liabilities.