Early last week PricewaterhouseCoopers Inc., in its capacity as trustee in bankruptcy for Sequoia Resources Corp., filed a statement of claim against Perpetual Energy Inc., attempting to unwind an asset sale from Oct. 1, 2016. Alternatively, PwC is seeking $217-million in damages. Along with Perpetual, PwC has named certain subsidiaries and its CEO, Susan Riddell Rose, as defendants.
In its statement of claim, the plaintiff is relying upon legal principles associated with oppression, reviewable transactions in insolvencies and regulatory law in support of its action.
On July 5, 2022, New York-based cryptocurrency exchange, Voyager Digital Holdings, Inc. along with its publicly traded Canadian affiliate, Voyager Digital Ltd., 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. 22-10943). The company reports $1 to $10 billion in both assets and liabilities.
On March 31, 2022, Ruby Pipeline, L.L.C., a Houston-based operator of a 680-mile natural gas system from Opal, Wyoming, to interconnections near Malin, Oregon, filed a petition for Chapter 11 relief in the Bankruptcy Court for the District of Delaware (Case No. 22-10278). The company reports $500 million to $1 billion in both 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 July 2, 2021, Something Sweet, Inc., a New Haven, Connecticut-based bakery that “provides high quality pies and cakes to the largest retailers in the country,” filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-10993). The company estimates $10 to $50 million in assets and liabilities.
On April 24, 2021, Augustus Intelligence Inc., a New York based AI systems developer, filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-10744). The company reports $10 million to $50 million in assets and $1 million to $10 million in liabilities.
Argos Therapeutics, Inc. (f/k/a Merix Bioscience, Inc.) has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 18-12714).
Mattress Firm, Inc., along with forty (40) affiliates and subsidiaries, has filed a petition for relief under chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-12241). Mattress Firm’s petition estimates its assets and liabilities to both be between $1–$10 billion.
Tintri, Inc., a Mountain View, California-based enterprise cloud storage company, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 18-11625).
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).