In a recent opinion dated March 29, 2016, the Delaware Bankruptcy Court on remand from, and following the direction of, the Delaware District Court, ruled that only prepetition unpaid invoices may be counted for purposes of the new value defense under 11 U.S.C. § 547(c)(4). The Bankruptcy Court also ruled that the plaintiff Chapter 7 trustee was entitled to prejudgment interest from the date of the filing of the preference avoidance complaint. Further, the District Court, in affirming the Bankruptcy Court on this point, addressed the ordinary course defense under 11 U.S.C.
On July 11, 2022, genomic sequencing company GenapSys Inc. of Redwood City, CA filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 22-10621). The company reports $10 million to $50 million in both assets and liabilities.
On April 11, 2022, Sungard AS New Holdings, LLC and several affiliates have filed a petition for Chapter 11 relief in the Bankruptcy Court for the Southern District of Texas (Case No. 22-90018). The company reports $500 million to $1 billion in both assets and liabilities.
On October 31, 2021, PWM Property Management LLC, along with several affiliates that own premium commercial space in New York and Chicago, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-11445). The company reports $1 to 10 billion in assets and liabilities.
Late on July 6, 2021, MatlinPatterson Global Opportunities Partners II L.P., along with several 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. 21-11255).
On April 26, 2021, Royal Blue Realty Holdings, Inc., a New York-based real estate company, filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Case No. 21-10802). The company reports $1 million to $10 million in assets and $10 million to $50 million in liabilities.
interTouch Holdings LLC and its affiliate, interTouch TopCo LLC, have both filed petitions for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-12772).
ONE Aviation Corporation, along with eleven subsidiaries and affiliates, 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. 18-12309).
Active Care, Inc., and its wholly-owned subsidiary 4G Biometrics, LLC, have filed petitions for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-11659).
Videology, Inc., along with four 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. 18-11120). Videology, based in Baltimore, MA, is a software solutions provider in the TV and digital advertising industry.