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Thursday, September 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
C.D. Cal.9/1/2021BESTHOST INN LLC21-12158Michael Jay Berger$0-$50k$1M-$10M
N.D. Cal.9/1/2021Roark & Associates LLC21-30614Eric J. Gravel$0-$50k$0-$50k
N.D. Tex.9/1/2021Master Tech Service Corp.21-42102Joyce W. Lindauer$500k-$1M$1M-$10M
M.D. Ga.9/1/2021NyNy & D3 Logistics, LLC21-10507Byron W. Wright III$0-$50k$100k-$500k
W.E. Ky.9/1/2021Terra Santa, Inc.21-31831Charity S. Bird$0-$50k$500k-$1M
D. Md.9/1/2021Results Fitness, LLC21-15602Thomas F. DeCaro, Jr.$0-$50k$1M-$10M
E.D.N.C.9/1/2021B & M Realty, LLC21-01955JM Cook$500k-$1M$100k-$500k
W.D.N.C.9/1/2021Classic Acquisitions, LLC21-10164Edward Hay$1M-$10M$1M-$10M
D.P.R.9/1/2021MOVIMIENTO PENTECOSTAL APOSTOLICO CRISTIANO, INCORPORADO21-02645Enrique Almeida / Zelma Davila$100k-$500k$100k-$500k
D.S.C.9/1/2021Rickenbaker Gin, Inc.21-02276Jane H. Downey$1M-$10M$1M-$10M
D. Del.8/31/2021American Sporting Goods Corp.21-11203Laura Davis Jones$100M-$500M$100M-$500M
D. Del.8/31/2021Brand Matter, LLC21-11199Laura Davis Jones$100M-$500M$100M-$500M
D. Del.8/31/2021Galaxy Brands, LLC21-11201Laura Davis Jones$100M-$500M$100M-$500M
D. Del.8/31/2021Heeling Sports Limited21-11198Laura Davis Jones$100M-$500M$100M-$500M
D. Del.8/31/2021SBG FM, LLC21-11200Laura Davis Jones$100M-$500M$100M-$500M
D. Del.8/31/2021Sequential Brands Group, Inc.21-11194Laura Davis Jones$100M-$500M$100M-$500M
D. Del.8/31/2021Sequential Licensing Inc.21-11196Laura Davis Jones$100M-$500M$100M-$500M
D. Del.8/31/2021SQBG, Inc.21-11195Laura Davis Jones$100M-$500M$100M-$500M
D. Del.8/31/2021The Basketball Marketing Company, Inc.21-11202Laura Davis Jones$100M-$500M$100M-$500M
D. Del.8/31/2021William Rast Licensing, LLC21-11197Laura Davis Jones$100M-$500M$100M-$500M

View All Filings
Featured Article

Loan Forgiveness as Basis for Fraudulent Transfer Claims

Fraudulent transfer litigation is a valuable weapon in the bankruptcy code arsenal that is commonly used to target assets that were transferred or otherwise disposed of prior to the bankruptcy. These assets, if successfully recovered, have the potential to provide greater recovery, or at least some recovery, to creditors of the debtor's estate.

The last two years saw an uptick in the use of Chapter 11 purely to reorganize rather than to simply liquidate a debtor and its affiliates, which are commonly included as co-debtors. Additionally, Chapter 11 bankruptcy cases are being confirmed in records speeds. These corporate restructurings may be used to shed unprofitable business sectors, shift assets and liabilities among debtor entities and their non-debtor affiliates, and alter the rights of creditors in the blink of an eye.

Read the full article

Lowenstein Sandler LLP by Jeffrey Cohen, Michael Kaplan, and Colleen Maker. Published August 26, 2021.

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