Sancilio Pharmaceuticals Company, Inc., 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. 18-11333).
VER Technologies HoldCo LLC, along with eight subsidiaries and affiliates, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-10834).
Jet Midwest Group, LLC, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 18-10395). The petition estimates the debtor’s assets and its liabilities to be between $10–$50 million. A claims and noticing agent has not yet been proposed.
SeaStar Holdings, Inc., along with two of its subsidiaries and affiliates, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-10039). SeaStar operates a passenger airline based in San Juan, Puerto Rico under the name Seaborne Airlines.
CalDel Holdings, LLC, a semi-conductor manufacturer headquartered in Vancouver, Washington, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 17-12266). The petition estimates the Debtor’s assets to be between $1 – $10 million and its liabilities to be between $500,000 – $1 million. The Debtor’s list of top 20 creditors only includes one party—Universal Semiconductor, Inc.
In an era when goods or materials often originate from suppliers or manufacturers outside the United States, bankruptcy courts are grappling with when “receipt” of goods occurs for the purpose of 503(b)(9) claims.
Sometimes the smallest bankruptcy cases give rise to the most interesting legal questions. One such case was that of ScripsAmerica, Inc., which gave rise to the question of whether the Office of the United States Trustee (the “UST”) has the statutory authority to disband a committee of unsecured creditors once a committee is appointed, or whether that authority resides with the Bankruptcy Court.
Alcor Energy, LLC filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 18-12839).
Kraus Carpet Inc., along with five subsidiaries and affiliates, has filed a petition for recognition of a foreign proceeding under chapter 15 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-12057).
Color Spot Holdings, Inc., along with three subsidiaries and affiliates, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-11272). Headquartered in Temecula, CA, Color Spot is one of the largest growers and distributors of live plants in the western and southwestern United States.