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).
Guidance from the General Division of the Singapore High Court on the extent to which the protections afforded by the statutory moratoria for schemes of arrangement conflict with the ability of maritime claimants to protect their interests.
Micro and small companies will be able to use a “Simplified Insolvency Programme” to be introduced by proposed amendments to Singapore’s Insolvency, Restructuring, and Dissolution Act 2018 (IRDA).
The Monetary Authority of Singapore (MAS) released a consultation paper (Insolvency and Winding-Up Consultation Paper) on 24 July pertaining to the proposed insolvency and winding-up regime (Insolvency Regime) for the Variable Capital Company (VCC) structure. This is the third in a series of consultation papers released since May 2019 pertaining to the VCC regulations, following the passage of the Variable Capital Companies Act on 1 October 2018.
Beauty Brands, LLC, along with two subsidiaries and affiliates, has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-10031).
Angel Medical Systems, Inc., a developer of medical devices based in Eatontown, NJ, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 18-12903).
Alcor Energy, LLC filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 18-12839).