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About The DailyDAC Editors
The editors and editorial board of DailyDAC include preeminent restructuring and insolvency professionals, journalists, and editors. They are devoted to providing reliable and plain English education and deal intelligence about assignments, corporate bankruptcy, receiverships, out-of-court workouts and similar topics.
Articles by The DailyDAC Editors
PUBLIC NOTICE OF ASSET SALE: The Education Insurance Corporation
Public Notice of Asset Sale: Intellectual property & Assets of The Education Insurance Corporation DSI ABCs LLC (“DSI”), as assignee (the “Assignee”) for the benefit of creditors of The Education Insurance Corporation, an insurance technology company, announces the public sale of EIC’s intellectual property and substantially all its other the assets (the “Auction Assets”). All […]
PUBLIC NOTICE OF ARTICLE 9 AUCTION: Patriot Finance, LLC
NOTICE OF PUBLIC UCC ARTICLE 9 FORECLOSURE AUCTION Consumer Installment Loans and Other Personal Property of PATRIOT FINANCE, LLC PLEASE TAKE NOTICE that on February 28, 2020, at 11:00 a.m., Atlanta, Georgia time, at the offices of Holland & Knight LLP, 1180 West Peachtree Street NW, Atlanta GA 30309, a public sale shall be conducted […]
90 Second Lesson: What is a “Professional Fee Carve-Out” in Chapter 11?
QUESTION: A commercial banker emailed saying, “We’ve recently had a large asset-based loan default, and the company filed Chapter 11. Our attorney has advised us that we should agree to pay the borrower’s attorneys by letting them get paid from the proceeds of the sale of our collateral. Can this possibly be right?” ANSWER: […]
PUBLIC NOTICE OF CHAPTER 11 AUCTION: 38+ Acres on Las Vegas Strip
Bankruptcy Auction: 38.56 +/- Acres Directly on the Las Vegas Strip, Across from Mandalay Bay Keen-Summit Capital Partners LLC and Colliers International (collectively, “Brokers”), on behalf of Kavita Gupta, the Chapter 11 Trustee (“Trustee”) for the estates of Desert Land, LLC, Desert Oasis Apartments, LLC and Desert Oasis Investments, LLC (“Estates”), announce the sale of […]
PUBLIC NOTICE OF ASSET SALE: M&M Pump & Supply, Inc.
Assignee Howard Samuels & Rally Capital Announce Public Sale of the Assets of M&M Pump & Supply, Inc. There will be a public auction (“Auction”) on Friday, January 31, 2020 at 2:00 pm, CST ( “Auction Date”) of substantially all of the assets of M&M Pump & Supply, Inc. (“M&M Pump”). Location. The Auction will […]
PUBLIC NOTICE OF AUCTION: Contact Lens & Eyewear Retailer
Public Notice of Court Ordered Auction of Contact Lens & Eyewear Retailer (E-Commerce + 2 Stores) AuctionAdvisors (“Auctioneer”) has been engaged to sell the assets of Provision Supply, Envision Eye Care, and Envision Optics, by order of the court in In re: Provision Supply, LLC, Envision Eye Care, Inc. and Envision Optics, Inc. The offering […]
90 Second Lesson: Is Bankruptcy Needed if Creditors Will Just Agree to Take Less?
QUESTION: Murray D. emailed, recently: “I am a general corporate lawyer. One of my clients has been in business for 50 years. It has no bank debt but it owes its vendors about $2 million. He told me that most or all of his vendors are willing to work with him by writing some small […]
PUBLIC NOTICE OF CHAPTER 7 SALE: Income-Producing Industrial Property on 6 Acres
Public Notice of Chapter 7 Auction of 65,000 SF Income-Producing Industrial Property on 6 Acres in Whitehouse Station, NJ AuctionAdvisors (“Auctioneer”) has been engaged to sell the property of 388 Route 22 Readington Holdings, LLC (“Property”) by order of the Chapter 7 Trustee in Bankruptcy Case No. 18-30155 KCF. The Property, commonly known as 388 […]
Determining the Collateral Value of a Secured Claim
Knowing Collateral Value Helps Determine the Creditor’s Rights Under a Plan The question of why we need to know the collateral value of a secured claim seems quite obvious when a secured creditor may be under-secured, that is when the value of its claim exceeds the value of the collateral securing it. In that case, […]
90 Second Lesson: Why Would a Debtor Choose to Liquidate Under Chapter 11?
Question: A reader asks, “I read about a company that filed Chapter 11 recently with a plan to sell all assets and go out of business. Why wouldn’t it file Chapter 7?” Answer: While it is true that the title of Chapter 7 is “Liquidation” and the title of Chapter 11 is “Reorganization,” these names […]