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Tuesday, September 14, 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
E.D.N.Y.9/13/2021Dame Contracting, Inc. (Second Filing)21-71627Adam P. Wofse, Esq.$1M-$10M$1M-$10M
C.D. Cal.9/13/2021Elite Aerospace Group, Inc.21-12231David L. Neale$10M - $50M$10M - $50M
C.D. Cal.9/13/2021Gomez Heating & Air Conditioning, Inc.21-17163Jeffrey S. Shinbrot$0-$50k$100k-$500k
S.D. Cal.9/13/2021Poway Property, LP21-03654David L. Speckman$0-$50k$10M - $50M
E.D. Cal.9/13/2021UNIVERSAL REAL ESTATE DEVELOPMENT, LLC21-12183Noel Knight$1M-$10M$1M-$10M
S.D. Fla.9/13/2021I LEE RE1, LLC21-18838Malinda L. Hayes$500k-$1M$100k-$500k
S.D. Fla.9/13/2021MDVE12 LLC21-18843Chad Van Horn$1M-$10M$1M-$10M
D. Mass.9/13/2021Tri-Wire Engineering Solutions, Inc.21-11322Pro Se$1M-$10M$10M - $50M
N.D. Ga.9/13/2021OSP Prevention Group, Inc21-56815Thomas T. McClendon$0-$50k$0-$50k
W.D. La.9/13/2021Gulf Coast Specialties, LLC21-50569Tom St. Germain$100k-$500k$1M-$10M
W.D. La.9/13/2021Washburn Marine Shipyard, LLC21-50567Tom St. Germain$100k-$500k$1M-$10M
W.D. Wash.9/13/2021Around The Sound Roofing, LLC21-11721Thomas D. Neeleman$0-$50k$100k-$500k
C.D. Cal.9/12/2021Lucille Manor Apartments, LLC21-17159Michael R. Totaro$500k-$1M$100k-$500k
M.D. Fla.9/12/2021Bizgistics, Inc.21-02197Megan W. Murray$1M-$10M$1M-$10M
D. Del.9/10/2021Agspring Mississippi Region, LLC21-11238Laura Davis Jones$10M - $50M$100M-$500M
D. Del.9/10/2021Agspring MS 1, LLC21-11239Laura Davis Jones$10M - $50M$100M-$500M
D. Del.9/10/2021Agspring MS, LLC21-11240Laura Davis Jones$10M - $50M$1M-$10M
D. Del.9/10/2021Bayou Grain & Chemical Corporation21-11242Laura Davis Jones$1M-$10M$1M-$10M
D. Del.9/10/2021Lake Providence Grain and Rice LLC21-11241Laura Davis Jones$10M - $50M$1M-$10M
S.D.N.Y.9/10/2021Income Collecting 1-3 Months T-Bills Mutual Fund (In Voluntary Liquidation)21-11601John E. Jureller, Jr.

View All Filings
Featured Article

A Second Look: United States Bankruptcy Court for The District of New Jersey Clarifies Start of Look-Back Periods for Avoidance Actions Involving Real Property

Debtors and trustees seeking to avoid the hardship of a foreclosure often attempt to employ sections 547 and 548 of the Bankruptcy Code.[1] In accordance with the former section, a debtor may avoid any transfer of an interest in property “on or within 90 days before the date of the filing of the petition.” When there is an allegation of a fraudulent transfer, the latter section provides, “The trustee may avoid any transfer . . . incurred by the debtor that was made or incurred on or within two years before the date of the filing of the petition.”

Because these look-back periods extend the time when a debtor can avoid certain transfers, the threshold determination of when the applicable period starts is crucial to assess whether these provisions are available to the debtor. A recent adversary proceeding in the United States Bankruptcy Court for the District of New Jersey, Cedrick Goodman v. MTAG as Custodian for Alterna Funding I, LLC, et al. Adv. Pro. No.: 20-01162[2], provides important guidance applicable when a lender files a lis pendens[3] years before the debtor files for bankruptcy.

Read the full article

Patterson Belknap Webb & Tyler LLP. by Lance Kodish and Daniel A. Lowenthal. Published September 9, 2021.

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