Hobbico, Inc. , a Chicago-based distributor of radio-control and general hobby products, along with seven of its affiliates, has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-10055).

KIKO USA, Inc., a retailer of professional makeup and skincare products based in New York, NY, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 18-10069).

On January 12, 2018, an involuntary chapter 11 petition was filed against Oak HRC New Castle, LLC, a rehabilitation facility located in Wilmington, Delaware, and health care business (as defined in 11 U.S.C. 101(27A)). The petitioners, each asserting trade claims, are: Healthcare Services Group, Inc.

First River Energy, LLC, a midstream energy company based in San Antonio, TX, has filed a petition for relief under Chapter 11. in the Bankruptcy Court for the District of Delaware (Case No. 18-10080).

Life Settlements Absolute Return I, LLC, a special purpose vehicle investing in life insurance policies, and its wholly-owned subsidiary, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 17-13030). The Debtors estimate their assets to be between $10,000,001 and $50 million and their liabilities to be between $100,000,001 and $500 million.

F.T.K. Worldwide Mfg BVBA (a/k/a FTK Worldwide Manufacturing BVBA) has filed a voluntary petition under Chapter 15 in the Bankruptcy Court for the District of Delaware (Case No. 17-13024).

In a prior post, we examined whether state-licensed marijuana businesses, and those doing business with marijuana businesses, can seek relief under the Bankruptcy Code.

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.

A Belgian diamond and precious metals trader, Exelco NV, has filed a voluntary petition under Chapter 15 in the Bankruptcy Court for the District of Delaware (Case No. 17-12409). Exelco North America, Inc., along with three other American affiliates of Exelco NV, previously filed for Chapter 11 on September 27, 2017 (Lead Case No. 17-12029).

Bankruptcy courts lack the power to impose serious punitive sanctions, a federal district judge ruled recently in PHH Mortgage Corporation v. Sensenich, 2017 U.S. Dist. LEXIS 207801 (D. Vt. Dec. 18, 2018). Judge Geoffrey Crawford reversed a bankruptcy judge’s ruling that had imposed sanctions against a creditor based on Rule 3002.1(i) of the Rules of Bankruptcy Procedure, the bankruptcy court’s inherent authority, and Bankruptcy Code section 105.