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Wednesday, October 6, 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. Md.10/6/2021Baylor Portfolio, LLC21-16311William H. Jackson$0-$50k$0-$50k
D. Del.10/5/2021CalPlant I Holdco, LLC21-11302Eric J. Monzo$50M - $100M$0-$50k
D. Del.10/5/2021CalPlant I, LLC21-11303Eric J. Monzo$100M-$500M$100M-$500M
S.D.N.Y.10/5/2021CATCo Reinsurance Opportunities Fund Ltd.21-11734Lisa Laukitis
W.D.N.Y.10/5/2021Fieldstone Church21-11032Robert B. Gleichenhaus, Esq.$500k-$1M$100k-$500k
S.D.N.Y.10/5/2021Markel CATCo Investment Management Ltd.21-11735Lisa Laukitis
S.D.N.Y.10/5/2021Markel CATCo Re Ltd.21-11736Lisa Laukitis
S.D.N.Y.10/5/2021Markel CATCo Reinsurance Fund Ltd.21-11733Lisa Laukitis
N.D. Cal.10/5/2021Blueberry Commons Sunnyvalle LLC21-51275Kevin Tang$1M-$10M$1M-$10M
C.D. Cal.10/5/2021Elite Aviation Products, Inc.21-12417David L. Neale$1M-$10M$1M-$10M
C.D. Cal.10/5/2021Elite Engineering Services Inc.21-12418David L. Neale$1M-$10M$1M-$10M
C.D. Cal.10/5/2021Elite Metal Manufacturing Inc.21-12419David L. Neale$1M-$10M$1M-$10M
E.D. Cal.10/5/2021Juarez Brothers Investments LLC21-12348Ignacio J. Lazo$1M-$10M$1M-$10M
C.D. Cal.10/5/2021Zach Halopoff Inc.21-12420David L. Neale$1M-$10M$1M-$10M
N.D. Tex.10/5/2021J&J Robinson Ventures LLC21-31826Melissa S. Hayward$1M-$10M$1M-$10M
S.D. Tex.10/5/2021Kelley Hydraulics, Inc.21-33269Jeff Carruth$0-$50k$0-$50k
D. Nev.10/5/2021Fortem Resources, Inc.21-14823Brett A. Axelrod$1M-$10M$1M-$10M
D. Ariz.10/5/2021Daisey, LLC21-07517Lawrence D. Hirsch$1M-$10M$500k-$1M
N.D. Ga.10/5/2021EG Global, LLC21-21054William A. Rountree$0-$50k$1M-$10M
N.D. Ga.10/5/2021Extrusion Group, LLC21-21053William A. Rountree$50k - $100k$1M-$10M

View All Filings
Featured Article


Third Circuit Affirms Bankruptcy Court’s Authority to Set and Enforce Bar Dates for Administrative Expenses

As a matter of practice, chapter 11 plans and confirmation orders routinely discharge administrative expense claims, including those that arise after confirmation of a plan but before its effective date. The Court of Appeals for the Third Circuit (the “Third Circuit”) recently affirmed the bankruptcy court’s statutory authority to do so in Ellis v. Westinghouse Electric Co., LLC, 2021 WL 3852612 (3d Cir. Aug. 30, 2021). Addressing an issue of apparent first impression at the circuit appellate court level, the Third Circuit held that a post-confirmation administrative expense claim faces discharge like any other claim if it is not timely filed by the applicable bar date.

Background

Bankruptcy courts have the power to set bar dates for prepetition claims. A creditor which does not file a claim by the bar date typically has its claim discharged (i.e., the claimant cannot recover from the debtor or the reorganized debtor). The bankruptcy court also has the power to set and enforce bar dates for postpetition administrative expense claims (i.e., those liabilities that arise after the petition date but before the debtor emerges from bankruptcy). Like prepetition claims, administrative expenses are subject to discharge if not timely filed.

Read the full article

Paul, Weiss, Rifkind, Wharton & Garrison LLP by Jacob A. Adlerstein, Paul M. Basta, Brian Bolin, Robert A. Britton, Kelley A. Cornish, Alice Belisle Eaton, Brian S. Hermann, Kyle J. Kimpler, Alan W. Kornberg, Elizabeth R. McColm, Andrew M. Parlen, Andrew N. Rosenberg, Jeffrey D. Saferstein, John Weber, and Jorge Gonzalez-Corona. Published September 29, 2021.

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