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    New Delaware Chapter 11 Filing - Alcor Energy LLC
    2018-12-20

    Alcor Energy, LLC filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 18-12839).

    Filed under:
    USA, Delaware, Insolvency & Restructuring, Litigation, Cole Schotz PC, United States bankruptcy court, US District Court for District of Delaware
    Authors:
    Norman L. Pernick , G. David Dean
    Location:
    USA
    Firm:
    Cole Schotz PC
    New Delaware Chapter 11 Filing - Egalet Corporation
    2018-10-31

    Egalet Corporation (OCTQX: EGLT), along with two of its affiliates and subsidiaries, has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-12439). Egalet, based in Wayne, Pennsylvania, is a specialty pharmaceutical company that develop and manufactures pain-relief medications.

    Filed under:
    USA, Delaware, Insolvency & Restructuring, Litigation, Cole Schotz PC, United States bankruptcy court, US District Court for District of Delaware
    Location:
    USA
    Firm:
    Cole Schotz PC
    Bankruptcy Court Can Enter Default Judgment Against Foreign Defendants in an Adversary Proceeding
    2018-07-23

    On Jun 29, 2018, Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern District of New York issued an opinion in which he granted a motion for entry of default judgment against foreign adversary proceeding defendants. Peter Kravitz v. Deacons (In re Advance Watch Company, Ltd.), Case No. 17-01137 (MG).

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Cole Schotz PC, Default judgment, United States bankruptcy court
    Location:
    USA
    Firm:
    Cole Schotz PC
    New Delaware Chapter 11 Filing - BioAmber Inc.
    2018-05-08

    BioAmber Inc. (OTCMKTS: BIOA), a chemicals manufacturer based in Saint Paul, Minnesota, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 18-11078).

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Cole Schotz PC, United States bankruptcy court
    Authors:
    Norman L. Pernick , G. David Dean
    Location:
    USA
    Firm:
    Cole Schotz PC
    Is Jevic Hauling a Surprise for 363 Sales that Include Priority-Skipping Distributions?
    2018-03-02

    Prior to the United States Supreme Court’s decision in Czyewski v. Jevic Holding Corp., 137 S.Ct. 973, 197 L.Ed.2d 398 (2017), one way to reshuffle the deck chairs on the titanic in a case with too little money, no more assets and too many creditors was for the parties to divvy up the remains through a structured dismissal under Section 349 of the Bankruptcy Code.

    Filed under:
    USA, Banking, Insolvency & Restructuring, Litigation, Cole Schotz PC, SCOTUS
    Authors:
    Nicholas J. Brannick
    Location:
    USA
    Firm:
    Cole Schotz PC
    New Delaware Chapter 11 Filings - Keystone Tube Company, LLC, A.M. Castle & Co. et al.
    2017-06-19

    Keystone Tube Company, LLC and four affiliates, including A.M. Castle & Co. (OTC: CASL), HY-Alloy Steels Company, Keystone Service, Inc. and Total Plastics, Inc., have filed chapter 11 petitions before the United States Bankruptcy Court for the District of Delaware (Lead Case No. 17-11330). The debtors are a specialty metals distribution company.

    Filed under:
    USA, Delaware, Insolvency & Restructuring, Litigation, Cole Schotz PC, US District Court for District of Delaware
    Authors:
    Nicholas J. Brannick , Norman L. Pernick
    Location:
    USA
    Firm:
    Cole Schotz PC
    Second Circuit Refuses to Expand Scope of Chapter 15 of the Bankruptcy Code
    2017-01-25

    On January 18, 2017, the U.S. Court of Appeals for the Second Circuit issued an opinion in the case of Trikona Advisers Limited v. Chugh, No. 14-975-cv, 2017 WL 191936 (2d Cir. Jan. 18, 2017), thwarting an attempt to expand the scope of Chapter 15 of Title 11 of the United States Code (the “Bankruptcy Code”). Specifically, the Second Circuit held, among other things, that Chapter 15 does not prevent a U.S. District Court from giving preclusive effect to the findings of a foreign court presiding over an insolvency proceeding where the action pending in the U.S.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Cole Schotz PC, Collateral estoppel, Second Circuit
    Authors:
    Jacob S. Frumkin
    Location:
    USA
    Firm:
    Cole Schotz PC
    Affirmed: New York’s Application of the In Pari Delicto Doctrine Bars Faithless Servant Claim and Bankruptcy Insider Exception
    2016-02-24

    A recent decision of the United States District Court for the Southern District of New York (the “District Court”), affirming a decision of the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”), further enforces the application of the in pari delicto doctrine in cases decided under New York law and confirms that exceptions to its application remain extremely limited.

    Filed under:
    USA, New York, Insolvency & Restructuring, Litigation, Cole Schotz PC, Bankruptcy, Title 11 of the US Code, US District Court for SDNY
    Authors:
    John H. Drucker
    Location:
    USA
    Firm:
    Cole Schotz PC
    New Chapter 11 Filing - MD Helicopters, Inc.
    2022-03-31

    On March 30, 2022, MD Helicopters, Inc. of Mesa, AZ filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 22-10263). The company is a helicopter supplier for military, law enforcement, utility, emergency medical services and VIP customers, with more than 2,500 aircraft in service globally.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Cole Schotz PC
    Location:
    USA
    Firm:
    Cole Schotz PC
    New Chapter 11 Filing - ABC Carpet
    2021-09-09

    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.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Cole Schotz PC
    Location:
    USA
    Firm:
    Cole Schotz PC

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