JOINT NOTICE OF PUBLIC SALE BY ORDER OF THE SECURED PARTY AND ASSIGNEE FOR THE BENEFIT OF CREDITORS SECURITY INDUSTRIES, INC. 1000 GEORGIANA ST. HOBART, IN, 46342 SALE OF ASSETS: Notice is hereby given that on Monday, June 13, 2016 at...Read Full Article
Keen-Summit Capital Partners LLC, in conjunction with FTI Consulting and Savills-Studley are pleased to offer for sale by Bankruptcy Auction an exceptional portfolio of real estate assets located in downtown Stamford, New Canaan, and Norwalk,...Read Full Article
Are you a lender who needs an appraisal of personal property (machinery, equipment, and inventory) in connection with making a loan? Are you a company that needs one in connection with a capital raise or some other purpose? Regardless of the reason...Read Full Article
Are “electronic document” provisions appearing in your commercial loan documents? This is the second in a series examining two provisions recently reviewed by me in commercial real estate transactions. Unfortunately, the two provisions have serious problems: for UCC Article 3 notes, making a copy of it will not clothe the copy with Article 3 protections. Copy & Trash the Original Note: No No & No Electronic...
Yet another company in the energy sector has filed for bankruptcy protection. On June 17, 2016, Maxus Energy Corporation, and its affiliates (“Debtors”) filed for chapter 11 protection in the United States Bankruptcy Court for the District of Delaware. A significant portion of this post draws upon information in the first day declaration of Javier Gonzalez [D.I. 2] (the “Declaration”). The Debtors’...
A few weeks ago, a panel of the Eleventh Circuit issued an opinion, In re Seaside Engineering & Surveying, Inc., No. 14-11590, denying an appeal of a chapter 11 confirmation order, that includes, among several issues considered, a brief holding relying on [a misreading of] Till v SCS Credit Corp. The entire section of the opinion dealing with Till is only 7 sentences and 12 lines long. The case involved a tiny amount of...
Per www.npr.orgMay 5, 2016:Many credit card and loan agreements these days have in the small type what's called a "mandatory arbitration clause." Most people don't even know what that means. But by signing, customers agree not to sue the financial firm in a class action lawsuit. Instead, they agree to work out any problem with an arbitrator hired by the bank."The company can sidestep the legal system, avoid accountability, and continue to pursue...
Transacting parties beware—in New York, unlike some other jurisdictions, sharing legal analysis between transacting parties results in the loss of the attorney-client privilege by each party so sharing as of the time of the sharing, even though the transaction subsequently closes and the acquiring party inherits the privilege (unless you can show that the sharing was in anticipation of litigation in which the parties shared a common...
The chapter 11 case of Energy Future Holdings (“EFH” or “Debtors”) roared back to life this month. Certain key conditions for the plan of reorganization approved last December (the “First Plan”) to become effective were not met by a deadline of April 30, and one of the major parties to the support agreement that underlay the First Plan gave written notice of termination on May 1. The Debtors followed up...
One of the goals of the Bankruptcy Code is to provide a debtor with a fresh start. The discharge of prepetition debts at the conclusion of a bankruptcy case is one of the most important ways to attain this fresh start. On May 16, 2016, the Supreme Court made it harder for debtors to obtain a fresh start by broadening an exception to discharge. Section 523(a)(2)(A) of the Bankruptcy Code provides that an individual debtor is not discharged...
Over at Dealb%k.
iON Worldwide, LLC, a maker of point-of-view video cameras, has filed a chapter 11 petition before the United States Bankruptcy Court for the District of Delaware (Case No. 16-11543). The company indicates that it will seek to enter into a financial restructuring pursuant to the terms of a restructuring support agreement and has obtained debtor-in-possession financing. The petition includes the consolidated list of top 20...
Editors’ Note: This is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to firstname.lastname@example.org and we will try to answer it. QUESTION: Jeff P. from Los...Read Full Article
Editors’ Note: This is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to email@example.com and we will try to answer it. QUESTION: Last month we...Read Full Article
Editors’ Note: This is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to firstname.lastname@example.org and we will try to answer it. QUESTION: Jeffrey B....Read Full Article
Subscribe now to see dozens of deals involving excess assets, financially distressed companies and other time sensitive situations every week.
Nasdaq reports that plant grower, Zelenka Farms, files for bankruptcy; blaming the bankruptcy filing on the rain.
The Wall Street Journal reports that Maxus Energy has entered bankruptcy.
Gov. Rauner proclaims that bankruptcy for the Chicago Public Schools might be the best option, reported by Chicago Tonight.
Bloomberg reports that Oi Files for Brazilian Record $19 Billion Bankruptcy Protection.
According to The Detroit News, Falling auto production fueled a broader decline in U.S. industrial output in May, a potentially worrying sign that manufacturers face economic challenges.
As Wind Power Lifts Wyomings Fortunes, Coal Miners Are Left in the Dust, as reported by the New York Times.
The New York Times Deal Book reports that reckoning is near for a merger of the Energy Transfer Companies and the Williams companies.
CBS News reports on Sports Authority's Mile High naming-rights gambit
The Aspen Times reports that the ownership of the Aspen Kitchen is in question.
Talk360 to continue after RBN bankruptcy, reports the Telecompaper.
Reuters reports that with oil prices near $50, resilient U.S. shale producers eye a new chapter.
The Sun reports that the City of San Bernardino is headed toward an unexpected budget surplus.
|Share this page:|