Contents Living in a COVID-19 World Most of us have stopped asking, “When will it be over?” and have started wondering how we can live with COVID-19 – and how it will change our behaviour from now on. In the context of restructuring, as we saw during the recent Canadian federal election, bankruptcy and insolvency have become topics of increased interest in political and wider circles. This might mean we can expect a greater focus on regulatory reform in this area.
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 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.
On September 10, 2021, Agspring Mississippi Region LLC, along with four affiliates, filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Lead Case No. 21-11238). Agspring Mississippi Region and its affiliates are each subsidiaries of non-debtor Agspring LLC, an agriculture supply chain services company.
On September 8, 2021, A.B.C. Carpet Co., Inc., dba ABC Carpet & Home, along with two 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. 21-11591). ABC Carpet & Home is a New York City-based luxury furniture retailer. The company estimates $10 to $50 million in assets and $50 to $100 million in liabilities.
On August 31, 2021, Sequential Brands Group, Inc. (NASDAQ:SQBG), together with its wholly-owned subsidiaries that own, manage and license a large-scale and diversified portfolio of consumer brands across multiple industries, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-11194). The company reports $442.8 million in assets and $435.1 million in liabilities.
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.