The Delaware Business Bankruptcy Report provides access to current decisions, news and commentary regarding commercial bankruptcy cases in Delaware. This blog is published by Morris James LLP, a full service law firm located in Wilmington, Delaware.
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On March 20, 2012, FastShip, Inc. and two affiliates, FastShip Atlantic, Inc. and Thornycroft, Giles & Co., Inc. (collectively, the "Debtors"), filed for Chapter 11 protection in the U.S. Bankruptcy Court of the District of Delaware. According to the...
On March 5, 2012, Pemco World Air Services, Inc. (“Pemco”) and two affiliates, WAS Aviation Services Holding Corp. (“WAS Holding”) and WAS Aviation Services, Inc. (“WAS Inc.,” collectively with WAS Holding, the “Debtors”) filed for Chapter 11...
Debtor Cannot Reject Lease Until It Surrenders the Premises to the Landlord, Even Where Subtenant is the Continued Occupant
In re Amicus Wind Down Corporation, Case No. 11-13167 (KG) (Jointly Administered), (February 24, 2012) (C.J. Gross) On March 17, 2008, Friendly Ice Cream Corporation (“Friendly” or “Debtors”) and Park Tysen Associates LLC (the “Over-Landlord”) entered into a...
TSC Global, LLC and 10 of its affiliates (the "Debtors") filed for Chapter 11 protection in the U.S. Bankruptcy Court of the District of Delaware
The petitions were filed on February 12 and 13, 2012. The Debtors offered a declaration of Barry Kasoff in support of their Chapter 11 petitions. The cases have been assigned to Chief Bankruptcy Judge Kevin Gross. The Debtors have filed a motion for joint administration...
On February 10, 2012, LSP Energy Limited Partnership ("LSP") and three (3) affiliated entities, LSP Energy, Inc., LSP Batesville Holding, LLC and LSP Batesville Funding Corporation (collectively, the "Debtors") filed Chapter 11 petitions in the...
Two-Year Look-Back Period in 11 U.S.C. § 548 is Not a Statute of Limitations Subject to Equitable Tolling
Industrial Enterprises of America, Inc. v. Burtis (In re Pitt Penn Holding Co., Inc.), Case No. 09-11475 (BLS) (Jointly Administered), Adv. No. 11-51868 (BLS) (January 24, 2012) (J. Shannon) The Court was faced with numerous adversary proceedings filed on similar factual bases including, in...
On January 30, 2011, a group of Saab Dealers signed on to an Involuntary Chapter 11 petition against Saab Cars North America, Inc. Most of the petitioning creditors list unreimbursed warranty obligations. Late last year, Saab Automobile AB, Saab Automobile Tools AB, and Saab Powertrain...
On January 18, 2012, Buffets Restaurants Holdings, Inc. and Several Affiliates (collectively, the "Debtors") Filed for Chapter 11 Protection in the U.S. Bankruptcy Court for the District of Delaware
Buffets Restaurants Holdings, Inc. Files for Chapter 11 Protection for the Second Time in Four Years. The petition lists both assets and liabilities between $100 million and $500 million. The case has been assigned to Judge Mary F. Walrath and is being administered under case number 12-10237. A...
In re: Jer/Jameson Mezz Borrower II, LLC, Case No. 11-13338 (MFW) (December 22, 2011) On October 18, 2011 (the “Petition Date”), debtor JER/Jameson Mezz Borrower II (“Mezz II”) filed its Chapter 11 petition on the eve of a UCC auction for Mezz II’s only asset;...
On January 10, 2012, Peak Broadcasting, LLC and Several Affiliates (collectively, the "Debtors") Filed for Chapter 11 Protection in the U.S. Bankruptcy Court for the District of Delaware
Peak Broadcasting, LLC Files for Chapter 11 Protection. The petition lists both assets and liabilities between $50 million to $100 million. The case has been assigned to Judge Peter J. Walsh and is being administered under case number 12-10183. According to the first-day Declaration of Todd...