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Wednesday, June 2, 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
D. Del.6/1/2021JDS Fourth Avenue LLC21-10888Scott D. Cousins$1M - $10M$1M - $10M
N.D. Ill.6/1/2021Freight-Base Customs Brokers, Inc21-06991Timothy M. Hughes$100k - $500k$100k - $500k
N.D. Ill.6/1/2021Freight-Base Services, Inc.21-06990Timothy M. Hughes$100k - $500k$100k - $500k
S.D. Ill.6/1/2021Spengler Plumbing Company, Inc. (Second Filing)21-30409Steven M. Wallace$1M - $10M$1M - $10M
S.D. Tex.6/1/20211917 Heights Hospital, LLC21-31811Steven Shurn$100M - $500M$10M - $50M
S.D. Tex.6/1/2021Tex-Gas Holdings, LLC21-80092T. Josh Judd$1M - $10M$1M - $10M
S.D. Fla.6/1/2021Ajay K. Goyal, M.D., Inc.21-15444Robert C. Furr$500k - $1M$1M - $10M
S.D. Fla.6/1/2021Diagnostic Radiology Center of The Treasure Coast, Inc.21-15443Robert C. Furr$1M - $10M$1M - $10M
S.D. Fla.6/1/2021FTPO, LLC21-15445Robert C. Furr$500k - $1M$1M - $10M
S.D. Fla.6/1/2021HRAG, LLC21-15446Robert C. Furr$0 - $50k$1M - $10M
E.D. Va.6/1/20218533 Georgetown Pike LLC21-11000John P. Forest, II
D. Del.5/31/2021Avadim Health IP, Inc.21-10884Laura Davis Jones$100k - $500k$100M - $500M
D. Del.5/31/2021Avadim Health, Inc.21-10883Laura Davis Jones$10M - $50M$100M - $500M
D. Del.5/31/2021Bionome Properties Corp.21-10885Laura Davis Jones$100k - $500k$100M - $500M
D. Del.5/31/2021Quality Assurance Associates, Inc.21-10886Laura Davis Jones$100k - $500k$100M - $500M
D. Del.5/31/2021Relion Manufacturing, Inc.21-10887Laura Davis Jones$1M - $10M$100M - $500M
S.D.N.Y.5/31/2021Kumtor Gold Company CSJC21-11051James L. Bromley$1B - $10B$100M - $500M
S.D.N.Y.5/31/2021Kumtor Operating Company CSJC21-11052James L. Bromley$1B - $10B$100M - $500M
C.D. Cal.5/31/2021Levant Group21-14537RoseAnn Frazee$100k - $500k$100k - $500k
S.D. Tex.5/31/2021OFS International, LLC21-31784Joshua W. Wolfshohl$10M - $50M$50M - $100M

View All Filings
Featured Article


A Reminder That a 9019 Motion Is Not a Slam Dunk: Bankruptcy Court Denies 9019 Motion After Determining That Approving Certain Findings Required By Settlement Would Amount to Inappropriate Advisory Op

Introduction

In a recent decision, Bath Iron Works Corp. v. Congoleum Corp. (In re Congoleum Corp.), 2021 Bankr. LEXIS 10, 2021 WL 28396 (Bankr. D.N.J. Jan. 4, 2021), the Bankruptcy Court for the District of New Jersey denied a motion by Congoleum Corporation (the “Debtor”) for approval pursuant to Bankruptcy Rule 9019 of a settlement agreement, (the “Settlement”) between the Debtor and Bath Iron Works Corporation (“BIW”). The Court declined to approve the Settlement, which was conditioned on the Court making findings that could impact litigation in another court, because the Court was unwilling to make all the requested findings. However, instead of explaining why it was denying approval of the Settlement or issuing partial findings, the Court denied the motion in its entirety, because to do otherwise while related pending litigation existed would, in the Court’s view, amount to little more than an inappropriate advisory opinion.

Although this decision turned on unique procedural and jurisdictional issues, it is a reminder that while the standards for approval pursuant to Bankruptcy Rule 9019 of debtor settlements are generally considered to be lenient or easy to satisfy, obtaining bankruptcy court approval of a settlement is not a “slam dunk.”

Read the full article

Weil, Gotshal & Manges LLP by Ronit Berkovich and Ryan C. Rolston. Published June 1, 2021.

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