Late on April 20, 2021, Texas-based WB Supply LLC, one of the largest privately held pipe and supply companies in the United States, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-10729). The company reports $10 million to $50 million in both assets and liabilities.

Late on April 19, 2021, Wilmington, Del.-based non-profit Connections Community Support Programs, Inc. (“CCSP”), which provides psychiatric/behavioral health services, substance use disorder treatment, housing and veterans’ services, intellectual disabilities services and operation support services, filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-10723).

IP-Rechte unterliegen teilweise anderen Spielregeln als die übrigen Vermögenswerte eines Unternehmens. Gerade in wirtschaftlich schwierigen Zeiten ist wichtig, hier den Überblick zu behalten. Dies gilt in besonderem Maß, wenn IP-Rechte Gegenstand von Lizenzen sind und einer der beiden Vertragspartner insolvent wird.

On April 12, 2021, Automotores Gildemeister SpA of Santiago, Chile 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. 21-10685) along with several affiliates. The corporate minutes accompanying the petition indicate that the company contemplates a prepackaged chapter 11 filing.

Last year saw a wave of insolvency-related legislation introduced which was largely in response to the ongoing coronavirus pandemic but which also saw permanent reforms which have, and will continue to have, an impact on the logistics industry as well as supply-chains generally.

Late on April 5, 2021, TECT Aerospace Group Holdings, Inc., along with certain affiliates that manufacture high precision components and assemblies for the aerospace industry, filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-10670).

On April 5, 2021, The Collected Group, LLC, along with certain affiliates that design, distribute, and retail three contemporary, consumer-inspired, apparel lifestyle brands: Joie, Equipment, and Current/Elliott, filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-10663).

On March 30, 2021, Houston-based retail power provider Entrust Energy, Inc., filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of Texas (Case No. 21-31070). The company reports $100 to $500 million in assets and $50 to $100 million in liabilities.

On March 29, 2021, AeroCentury Corp., a Calif.-based publicly traded aircraft operating lessor and finance company specializing in leasing regional aircraft and engines to regional airlines and commercial users in 15 countries, announced it and certain of its subsidiaries filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-10636).

Commercial aviation has been one of the sectors most heavily impacted by COVID-19, but thanks to the strong controlling measures to weather the impact of the pandemic, the People’s Republic of China (the “PRC”) has been a market in which some form of aviation recovery is happening. Unfortunately, the recovery has not come soon enough for the Chinese conglomerate HNA.