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Monday, January 3, 2022

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. Colo.1/2/2022El Jebowl, LLC22-10004Kevin S. Neiman$50k - $100k$100k-$500k
M.D. Fla.1/1/2022Edward Zengel & Son Express, Inc.22-00001Mike Dal Lago$100k-$500k$1M-$10M
S.D.N.Y.12/31/2021First Step Trademarks, LLC21-12147Ilana Volkov$100k-$500k$1M-$10M
E.D. Cal.12/31/2021Chris' Collision Center, Inc.21-24309Gabriel E. Liberman$0-$50k$100k-$500k
N.D. Cal.12/31/2021Mag Auto Group Inc.21-41536Marc Voisenat$500k-$1M$1M-$10M
S.D. Fla.12/31/2021PH 1 LLC21-22184Diego G. Mendez$1M-$10M$1M-$10M
E.D. Mich.12/31/2021Legal Advocacy, P.C. (Second Filing)21-50040Randy Calvin$1M-$10M$1M-$10M
N.D. Ala.12/31/2021Keep Information Technology Simple, LLC21-02987Bill D. Bensinger$0-$50k$500k-$1M
N.D. Ala.12/31/ LLC21-02986Bill D. Bensinger$100k-$500k$500k-$1M
C.D. Cal.12/30/2021The Jurassic Jump, LLC21-19516Daniel J. Weintraub$100k-$500k$1M-$10M
W.D. Tex.12/30/2021Loadcraft Industries, Ltd.21-11018Eric J. Taube$1M-$10M$1M-$10M
S.D. Fla.12/30/2021Lake Sana Developments LLC21-22132Pro Se$1M-$10M$1M-$10M
S.D. Fla.12/30/2021TELINTEL, LTD21-22154Thomas L. Abrams$500k-$1M$1M-$10M
D. Nev.12/30/2021Beacon Purchasing LLC, a Nevada Limited Liability Company21-15886Brian D. Shapiro$0-$50k$1M-$10M
D. Nev.12/30/2021Sunshine Village, LLC.21-15880Corey B. Beck, Esq.$0-$50k$50k - $100k
N.D. Ga.12/30/2021Bar Services, LLC21-59648Nathan Juster$0-$50k$100k-$500k
D.N.M.12/30/2021Safe Site Youth Development, Inc.21-11399Dennis A. Banning$1M-$10M$1M-$10M
W.D. Wis.12/30/2021Franzen Forest Products, Inc.21-12579Greg P. Pittman$500k-$1M$500k-$1M
S.D.N.Y.12/29/202178-80 St. Marks Place, LLC21-12139Andrew R. Gottesman$10M-$50M$1M-$10M
S.D.N.Y.12/29/2021Harry's Hot Dogs of Bay Plaza, LLC21-12141Joel M. Shafferman$50k - $100k$1M-$10M

View All Filings
Featured Article

Purdue, NRA and Boy Scouts: Bankruptcies That Defined 2021

The second year of the COVID-19 pandemic didn’t bring as many corporate Chapter 11 bankruptcies as the first year, but that didn’t mean things were quiet in bankruptcy courts. Here are five cases that made big waves in 2021 with their unusual legal strategies, high-profile players, and overall unpredictability.

Purdue Pharma

The Purdue bankruptcy, which began in 2019, served as a reminder that the U.S. was battling more than one major public health crisis. In September, Purdue, which filed for bankruptcy to resolve thousands of lawsuits accusing it of fueling the opioid epidemic through deceptive marketing of OxyContin, secured approval of a plan to steer funding towards opioid abatement programs. The plan came with a deal that provided legal protection for the Sackler family members who own the drugmaker against future opioid-related litigation in exchange for a $4.5 billion contribution to the settlement. But at the tail-end of 2021, a U.S. judge stunned everyone involved by effectively tossing the Sackler deal. She decided on appeal that the bankruptcy court did not have the authority to grant that protection to the Sacklers, who did not file for bankruptcy themselves and have denied wrongdoing. Purdue, which pleaded guilty in 2020 to criminal charges related to its marketing of its opioids, says it will appeal her ruling, meaning this case is far from finished.

Read the full article

Reuters by Maria Chutchian. Published December 27, 2021.

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