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Tuesday, November 23, 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
N.D. Ill.11/22/2021True Holiness Church of God in Christ21-13335Karen Porter$100k-$500k$100k-$500k
W.D. Tex.11/22/2021Met Water Vista Ridge, L.P.21-10904B. Weldon Ponder, Jr.$500k-$1M$0-$50k
W.D. Tex.11/22/2021Metropolitan Water Company, L.P.21-10903B. Weldon Ponder, Jr.$1M-$10M$1M-$10M
S.D. Fla.11/22/2021VOS CRE I, LLC21-21082Isaac Marcushamer$1M-$10M$1M-$10M
D.N.J.11/22/2021Ernie's Auto Detailing, Inc.21-19015Donald F. Campbell, Jr.$500k-$1M$100k-$500k
N.D. Ill.11/21/2021Kitchens & Spaces Cabinets Inc.21-13289Joel A. Schechter$0-$50k$50k - $100k
D. Md.11/21/2021Blue River Homes LLC21-17348Michael Coyle$500k-$1M$500k-$1M
D. Md.11/21/2021Good Time Homes LLC21-17349Michael Coyle$100k-$500k$100k-$500k
S.D. Ill.11/19/2021House of Prayer to All Nations of the Pentecostal Faith, Inc.21-30803Steven M. Wallace$50k - $100k$1M-$10M
S.D. Tex.11/19/2021Floor-Tex Commercial Flooring, LLC21-33751Baker & Associates$1M-$10M$1M-$10M
S.D. Fla.11/19/2021Legacy JH762, LLC (Second Filing)21-21038David Lloyd Merrill$1M-$10M$1M-$10M
D. Ariz.11/19/2021Eades Plastic Surgery, PLLC21-08574D. Alexander Winkelman$0-$50k$100k-$500k
D. Ariz.11/19/2021Edward Eades, M.D., P.C.21-08572D. Alexander Winkelman$0-$50k$0-$50k
S.D. Ind.11/19/2021National Cargo Inc.21-05256Preeti Gupta$0-$50k$100k-$500k
D. Md.11/19/2021Global Energy Services, LLC21-17305Gary R. Greenblatt$1M-$10M$1M-$10M
D.N.M.11/19/2021Metropolitan Holiness Church of God in Christ, Inc., a New Mexico Nonprofit Corporation21-11287Christopher M. Gatton$1M-$10M$1M-$10M
W.D. Wash.11/19/2021ES1, LLC21-12109Larry B Feinstein$1M-$10M$1M-$10M
S.D. Tex.11/18/2021Cypress Creek Emergency Medical Services Association21-33733Annie Catmull$1M-$10M$1M-$10M
D.N.J.11/18/2021Culinary Classics, LLC21-18926Robert C. Nisenson$0-$50k$0-$50k
D. Colo.11/18/2021NITROcrete, LLC21-15739Matthew T. Faga$1M-$10M$10M-$50M

View All Filings
Featured Article

As US Cannabis Industry Grows, Produces Distress, Bankruptcy Relief Remains Limited

The U.S. Bankruptcy Code provides relief to debtors to maximize value for the benefit of their creditors and other stakeholders. Such relief is extremely limited when debtors are state-legalized marijuana businesses, as they are denied access to Bankruptcy Courts because the manufacture, distribution, and dispensing of marijuana remain federal crimes under the Controlled Substances Act (CSA), 21 U.S.C Sections 801-971.

Although the manufacture, distribution, and dispensing of marijuana is currently legal in many U.S. states on the state level, the federal government’s designation of marijuana as a controlled substance supersedes contrary state law through application of the commerce clause.

Read the full article

Journal of Corporate Renewal by Leah Eisenberg. Published November 2021.

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