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Tuesday, May 19, 2020

Welcome to the Bankruptcy
Today Newsletter.

Your daily access to recent significant Chapter 11 case filings, relevant restructuring news and samples of some of our current distressed company profiles.

Featured Recent Filings


CourtFiledDebtorCase NoAttorneyAssetsLiabilities
D. Del.5/19/2020Dixie Metals Company20-11159Daniel J. DeFranceschi$500M - $1B> $1B
D. Del.5/19/2020Exide Delaware LLC20-11161Daniel J. DeFranceschi$500M - $1B> $1B
D. Del.5/19/2020Exide Holdings, Inc.20-11157Daniel J. DeFranceschi$500M - $1B> $1B
D. Del.5/19/2020Exide Technologies, LLC20-11158Daniel J. DeFranceschi$500M - $1B> $1B
D. Del.5/19/2020Refined Metals Corporation20-11160Daniel J. DeFranceschi$500M - $1B> $1B
S.D. Tex.5/19/2020Energy Services Puerto Rico, LLC20-32680Matthew D. Cavenaugh> $1B> $1B
S.D. Tex.5/19/2020HOI Holding, LLC20-32681Matthew D. Cavenaugh> $1B> $1B
S.D. Tex.5/19/2020Hornbeck Offshore International, LLC20-32682Matthew D. Cavenaugh> $1B> $1B
S.D. Tex.5/19/2020Hornbeck Offshore Navegacao, Ltda.20-32683Matthew D. Cavenaugh> $1B> $1B
S.D. Tex.5/19/2020Hornbeck Offshore Operators, LLC20-32684Matthew D. Cavenaugh> $1B> $1B
S.D. Tex.5/19/2020Hornbeck Offshore Services, Inc.20-32679Matthew D. Cavenaugh> $1B> $1B
S.D. Tex.5/19/2020Hornbeck Offshore Services, LLC20-32685Matthew D. Cavenaugh> $1B> $1B
S.D. Tex.5/19/2020Hornbeck Offshore Transportation, LLC20-32686Matthew D. Cavenaugh> $1B> $1B
S.D. Tex.5/19/2020Hornbeck Offshore Trinidad & Tobago, LLC20-32687Matthew D. Cavenaugh> $1B> $1B
S.D. Tex.5/19/2020HOS de Mexico II, S. de R.L. de C.V.20-32689Matthew D. Cavenaugh> $1B> $1B
S.D. Tex.5/19/2020HOS de Mexico, S. de R.L. de C.V.20-32688Matthew D. Cavenaugh> $1B> $1B
S.D. Tex.5/19/2020HOS Holding, LLC20-32690Matthew D. Cavenaugh> $1B> $1B
S.D. Tex.5/19/2020HOS Port, LLC20-32691Matthew D. Cavenaugh> $1B> $1B
S.D. Tex.5/19/2020HOS-IV, LLC20-32692Matthew D. Cavenaugh> $1B> $1B
S.D.N.Y.5/18/2020Centric-BCBG Retail LLC20-22636Gregg M. Galardi> $1B> $1B
Featured Article


Bankruptcy Amendments Could Help Businesses After Coronavirus

The coronavirus pandemic is spurring serious chain reactions on businesses and bankruptcies are inevitable. Although bankruptcy courts have already been granting extraordinary relief to delay sales and other transactions handicapped due to Covid-19, Proskauer Rose attorneys say the Bankruptcy Code should be changed to save more businesses from the pandemic’s fallout.

The coronavirus pandemic has a still unfolding and unprecedented global impact on daily lives, businesses, and economies. Most Americans are ordered to stay home. Scores of businesses are unable to operate while other businesses’ customers have no money to spend. Chain reactions await.

For instance, the restaurant or movie theater defaults on rent owed the landlord which then defaults on its mortgage payments. That syndrome triggers defaults of mortgage backed securities. Heightened market volatility pending the unknowable timing of therapies, vaccines, and public willingness to resume normalcy, renders a wave (or tsunami) of bankruptcies fairly inevitable. But ironically, at present, bankruptcy liquidation sales cannot even occur because no one is allowed to attend, except online.

Read the full article

Bloomberg Law by Martin J. Bienenstock & Maja Zerjal. Published May 14, 2020.

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