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Friday, January 8, 2021

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
N.D. Tex.1/7/2021Diversified Power Systems, Inc. (Second Filing)21-40034Craig D. Davis$100k - $500k$500k - $1M
S.D. Fla.1/7/2021Burger Miami, LLC21-10114Jerry A. Borbon, Esq.$0 - $50k$50k - $100k
M.D. Fla.1/7/2021Tab Holdings, LLC21-00048Jeffrey S. Ainsworth$0 - $50k$1M - $10M
D. Neb.1/7/2021Dismal River Holdings, LLC21-80010Patrick R. Turner$10M - $50M$10M - $50M
D. Neb.1/7/2021DRC III, LLC21-80011Patrick R. Turner$10M - $50M$10M - $50M
D. Neb.1/7/2021HC Land Co., LLC21-80012Patrick R. Turner$1M - $10M$1M - $10M
D. Neb.1/7/2021J. Jacobs Holdings, LLC21-80009Patrick R. Turner$10M - $50M$10M - $50M
D. Neb.1/7/2021RANCHO DESTINO INV LLC21-10057Seth D Ballstaedt, Esq.$100k - $500k$100k - $500k
S.D.N.Y.1/6/2021Mifate Cab Corp.21-10018Thomas A. Farinella$50k - $100k$500k - $1M
E.D.N.Y.1/6/2021Powell 512, LLC21-40032Charles Higgs$500k - $1M$1M - $10M
S.D.N.Y.1/6/2021Shelburne Bar & Grill Inc.21-10014Rachel S. Blumenfeld, Esq.$100k - $500k$100k - $500k
C.D. Cal.1/6/2021DGWB Ventures, LLC, a California limited liability company21-10017Michael B. Reynolds$1M - $10M$1M - $10M
C.D. Cal.1/6/2021Presidio Development, LLC21-10086Michael Jay Berger$500k - $1M$100k - $500k
S.D. Tex.1/6/2021Third Ocean Vessel and Rig, Inc.21-80004Pro Se$0 - $50k$500k - $1M
E.D. Mich.1/6/2021Loves Furniture Inc.21-40083Max J. Newman$10M - $50M$10M - $50M
D.N.J.1/6/2021GFY REALTY CORPORATION21-10078Dean Despotovich$1M - $10M$500k - $1M
E.D. Pa.1/6/2021Cantwelll Woodworking, LLC21-10031Jon M. Adelstein$500k - $1M$500k - $1M
E.D. Wash.1/6/2021C&V Auto Sales & Service, Inc.21-00013Dan O'Rourke$1M - $10M$1M - $10M
C.D. Cal.1/5/2021JANA, LLC21-10005Matthew Abbassi$0 - $50k$0 - $50k
C.D. Cal.1/5/2021Save On Cost Manufacturing, LLC21-10057Raymond H. Aver$1M - $10M$1M - $10M

View All Filings
Featured Article

French and US Bankruptcy Sales Compared

The mechanics for selling a debtor’s business or assets under Section 363 of the US Bankruptcy Code (363) are generally left to the debtor’s business judgment, even though some standard procedures are often employed. For example, an auction process with a stalking horse bidder is common, but not expressly required by the Code.

In contrast, French law provides a precise template for the sale of a business and assets in bankruptcy. Even though it contains some features similar to 363 sales, a French bankruptcy sale has several particularities that reflect the main goal of French bankruptcy law: safeguarding the business in order to protect jobs.

Read the full article

McDermott Will & Emery by Timothy W. Walsh, Timothée Gagnepain, Théophile Jomier, and Daniel Thomson. Published January 7, 2021.

Latest News

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Bankruptcy Implications of New COVID-19 Legislation

Loves Furniture Files For Bankruptcy, May Seek New Owner For Remaining Stores

AMC Entertainment CEO Is Shockingly Close To Staving Off Bankruptcy

Wendy’s and Flynn Come To Terms On NPC’s Bankruptcy Sale

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