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An intercreditor agreement can do a few things, like determine the order that parties get paid by the debtor, or which parties have rights to modify certain terms. But venue matters in agreement enforcement, and past bankruptcy cases have led to many different outcomes for creditors. Law professor George Kuney gives the key takeaways in “Kuney’s Corner: The Many Fates of Intercreditor Agreements.”
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DailyDAC congratulates faculty member Thomas Salerno of Stinson LLP, for his part in taking Advanced Green Innovations, LLC through a Chapter 11 restructuring and recapitalization in 10 months!
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Most force majeure provisions in business contracts don’t include “pandemics” in their descriptions (at least not ones drafted before this past March). Read “Force Majeure, MAC Clauses & COVID-19: A Court Speaks to Every Commercial Tenant in the United States” to learn the latest about this quickly developing area of the law.
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Join iGlobal Forum online on Sept 24th, 2020 to address the ever-changing healthcare investment landscape, identify good investment opportunities, and learn how to support your existing portfolio companies through these challenging times. Reserve your place now with a 20% off discount using code FP20.
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If your company is facing financial distress then you should consider Opportunity Amidst Crisis - the Webinar. Designed for the business owner, not the professional restructuring advisor or attorney, 11 leading industry associations came together to co-produce the most comprehensive, yet plain-English and entertaining webinar or seminar ever created on this subject.
Available on-demand now. Click here for more information.
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DailyDAC’s Chapter 11 Bankruptcy Alert System is updated constantly throughout the day, seven days a week. The Chapter 11 Bankruptcy Alert System is completely free to view and you may sign up (at no cost) to receive email notifications.
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Latest Deals Added to the Opportunistic Deal Database
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The deals listed here were added to the ODD throughout the seven day period ending this past Sunday. The number in parentheses next to each deal is its unique ID number, included so our paid subscribers can easily find these deals on our website.
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Secured Party Sales
- Farming equipment - Multiple lots - (25069)
- 2.99 acres of commercial land - (25068)
- Vehicles, tools & equipment - (25072)
- Test measurement equipment - (25071)
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Private Company Sales
- Industrial automation patents for global applications - (25059)
- Cannabis cultivation & manufacturing facility - (25057)
- Food manufacturing & distribution business - (25056)
- Type 6 ethanol THC manufacturer- (w/Land) - (25058)
- Oil, proven reserves (w/mineral rights) - (25060)
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Assignment for the Benefit of Creditors Sales
- Transportation & automotive group - (25084)
- Logistics & warehousing business - (25079)
- Children's cooking camp - (25083)
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Chapter 11 - 363 Sales
- Health & nutrition products franchiser - (25070)
- Manufacturer of building materials - (25112)
- Land - 10 +/-Undeveloped acres - (25079)
- Independent film distributor - (25110)
- Carpet & flooring retailer - (25111)
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Chapter 11 - Investment Banker Application Filed
- Transportation & logistics business - (25109)
- Professional sport's league - (25107)
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Chapter 11 - Case Filing Indicates Future Asset Sale
- Ready to work heavy equipment dealer - (25102)
- Real estate development company - (25103)
- Financial services provider - (25105)
- Oilfield services provider - (25106)
- Cab company - (25104)
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Chapter 7 - Sale of Business Assets
- Business office furniture & vehicles - (25119)
- Vintage jewelry & watch collection - (25115)
- Retired police cruiser vehicles - (25118)
- Development land - 16.89 acres - (25120)
- Tools & shop equipment - (25116)
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Chapter 12 Bankruptcy
- Farmland - 23 acres - (25114)
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Rating Agency Alerts/Other Signs of Distress
- Vertically integrated medical device co. - (25073)
- Manufacturer of electric vehicles - (25075)
- Solar panel manufacturer - (25077)
- Media & satellite company - (25074)
- Chain of hotels & resorts - (25076)
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Auctions
- Industrial blow molding plant (w/equipment) - (25132)
- Industrial forklifts - multiple lots - (25128)
- Manufacturer (w/grinding equipment) - (25130)
- Sports memorabilia & collectibles - (25127)
- Machinist tools - Multiple lots - (25131)
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Other Interesting Sales
- Non-operating working interest - 143.28 net acres - (25124)
- Operated working interest - 273 oil & gas wells - (25122)
- Operated working interest - 4 gas wells - (25123)
- 1,511 producing gas & 4 oil wells - (25121)
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Bulk Sales
- Food manufacturing & distribution business - (25086)
- Specialty food services company - (25081)
- Production machining business - (25082)
- Sod & hydroseeding business - (25080)
- Cigar retailer - (25085)
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Receiverships
- Commercial land - 1,021.94 acres - (25064)
- Office building - 9,300 sq. ft. - (25065)
- Industrial printing company - (25063)
- Hotel, restaurant & lounge - (25062)
- Welding equipment - (25129)
- Drilling company - (25066)
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Mass/Significant Layoffs
- Supplier of fuel delivery system products - (25101)
- Live concert & entertainment producer - (25098)
- Mining & electrical energy company - (25099)
- Bingo equipment manufacturer - (25097)
- Temperature censor dealer - (25100)
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Plant/Facility Closings
- Beer, wine & spirits distributor - (25096)
- Visual communications provider - (25093)
- Aerospace equipment supplier - (25094)
- Full-service hospital - (25087)
- Luxury hotel & spa - (25095)
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DailyDAC, LLC
1954 First Street, Suite 178
Highland Park, IL 60035
847-463-9530
[email protected]
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