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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.
| Court | Filed | Debtor | Case No | Attorney | Assets | Liabilities |
|---|---|---|---|---|---|---|
| D. Del. | 1/12/2021 | RGN-Chicago XLIV, LLC | 21-10028 | Ian J. Bambrick | $1M - $10M | $1M - $10M |
| N.D. Cal. | 1/12/2021 | Herbal Hope (Second Filing) | 21-30021 | Sydney E. Fairbairn | $100k - $500k | $50k - $100k |
| C.D. Ill. | 1/12/2021 | Davis Express Service, Inc. | 21-80024 | Sumner A. Bourne | $500k - $1M | $100k - $500k |
| C.D. Ill. | 1/12/2021 | Davis Sand & Gravel, Inc. | 21-80023 | Sumner A. Bourne | $1M - $10M | $500k - $1M |
| E.D. Tex. | 1/12/2021 | East Texas Compost, LLC | 21-40044 | Eric A. Liepins | $100k - $500k | $0 - $50k |
| D. Md. | 1/12/2021 | Home Sweet Home DD, Inc. | 21-10213 | Brett Weiss | $500k - $1M | $500k - $1M |
| D. Md. | 1/12/2021 | METS, LLC | 21-10214 | Brett Weiss | $1M - $10M | $1M - $10M |
| W.D. Mo. | 1/12/2021 | Springer Family Trust, Dated March 2, 2006 | 21-30002 | Ted L. Tinsman | $1M - $10M | $1M - $10M |
| D. Neb. | 1/12/2021 | 4-S, LLC | 21-40024 | John C. Hahn | $0 - $50k | $0 - $50k |
| W.D.N.C. | 1/12/2021 | Beal Manufacturing, Inc. | 21-30027 | Richard S. Wright | $10M - $50M | $1M - $10M |
| N.D. Ohio | 1/12/2021 | Neurocare Center, Inc. | 21-60030 | Anthony J. DeGirolamo | $1M - $10M | $1M - $10M |
| E.D. Va. | 1/12/2021 | 3804 Wilson Boulevard LLC | 21-10039 | Steven B. Ramsdell | $1M - $10M | $1M - $10M |
| E.D. Va. | 1/12/2021 | 730 Oakland LLC | 21-10040 | Steven B. Ramsdell | $1M - $10M | $1M - $10M |
| D. Del. | 1/11/2021 | Ferrellgas Partners Finance Corp. | 21-10020 | William E. Chipman, Jr. | $0 - $50k | $100M - $500M |
| D. Del. | 1/11/2021 | Ferrellgas Partners, L.P. | 21-10021 | William E. Chipman, Jr. | $100M - $500M | $100M - $500M |
| D. Del. | 1/11/2021 | Wardman Hotel Owner, L.L.C. | 21-10023 | Laura Davis Jones | $100M - $500M | $100M - $500M |
| N.D.N.Y. | 1/11/2021 | Ambica M&J Two LLC | 21-10014 | Justin A. Heller | $1M - $10M | $1M - $10M |
| S.D.N.Y. | 1/11/2021 | International Wealth Tax Advisors, LLC | 21-10041 | Henry G. Swergold, Esq. | $100k - $500k | $1M - $10M |
| N.D.N.Y. | 1/11/2021 | Jagdamba II Corp. | 21-10015 | Justin A. Heller | $500k - $1M | $10M - $50M |
| N.D.N.Y. | 1/11/2021 | Maha Laxmi II Corp. | 21-10016 | Justin A. Heller | $1M - $10M | $10M - $50M |
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 articleMcDermott Will & Emery by Timothy W. Walsh, Timothée Gagnepain, Théophile Jomier, and Daniel Thomson. Published January 7, 2021.
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| Brian Osborne | Paul Deutch | Alison Miller |
| bosborne@omniagnt.com | paul@omniagnt.com | amiller@omniagnt.com |
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