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Wednesday, January 12, 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
S.D.N.Y.1/11/2022CFX CDO Co., Inc.22-10023George P. Angelich$500k-$1M$10M-$50M
S.D.N.Y.1/11/2022CFX US Co., Inc.22-10022George P. Angelich$500k-$1M$10M-$50M
E.D.N.Y.1/11/2022HGL Realty LLC22-40039Michael L. Previtio$1M-$10M$1M-$10M
S.D. Tex.1/11/2022Green Head LLC22-30105Mark A. Platt$50k - $100k$0-$50k
S.D. Tex.1/11/2022Seadrill JU Newco Bermuda Limited22-90003Matthew D. Cavenaugh$500M-$1B$500M-$1B
S.D. Tex.1/11/2022Seadrill Member LLC22-90002Matthew D. Cavenaugh$500M-$1B$500M-$1B
S.D. Tex.1/11/2022Seadrill Mobile Units UK Limited22-90005Matthew D. Cavenaugh$500M-$1B$500M-$1B
S.D. Tex.1/11/2022Seadrill New Finance Limited22-90001Matthew D. Cavenaugh$500M-$1B$500M-$1B
S.D. Tex.1/11/2022Seadrill Partners LLC Holdco Limited22-90006Matthew D. Cavenaugh$500M-$1B$500M-$1B
S.D. Tex.1/11/2022Seadrill Seabras SP UK Limited22-90008Matthew D. Cavenaugh$500M-$1B$500M-$1B
S.D. Tex.1/11/2022Seadrill Seadragon UK Limited22-90012Matthew D. Cavenaugh$500M-$1B$500M-$1B
S.D. Tex.1/11/2022Seadrill SeaMex 2 de Mexico S. de R.L. de C.V.22-90011Matthew D. Cavenaugh$500M-$1B$500M-$1B
S.D. Tex.1/11/2022Seadrill SeaMex SC Holdco Limited22-90010Matthew D. Cavenaugh$500M-$1B$500M-$1B
S.D. Tex.1/11/2022Seadrill SKR Holdco Limited22-90009Matthew D. Cavenaugh$500M-$1B$500M-$1B
S.D. Tex.1/11/2022Sevan Drilling Rig VI AS (Second Filing)22-90007Matthew D. Cavenaugh$500M-$1B$500M-$1B
S.D. Tex.1/11/2022Sevan Drilling Rig VI Pte. Ltd.22-90004Matthew D. Cavenaugh$500M-$1B$500M-$1B
S.D. Tex.1/11/2022United Structures of America, Inc.22-30104Mark A. Platt$1M-$10M$1M-$10M
D.N.J.1/11/2022Quiles Construction, LLC22-10243Peter J. Broege, Esq$500k-$1M$100k-$500k
W.D. La.1/11/2022Blackrock International, Inc. (Second Filing)22-50015D. Patrick Keating$100k-$500k$100k-$500k
W.D. La.1/11/2022Greg & Alice, Inc.22-10026L. Laramie Henry$100k-$500k$100k-$500k

View All Filings
Featured Article


Bankruptcy Court Holds Arbitration Clause Unenforceable When Underlying Contract Is Rejected Pursuant to Section 365 of the Bankruptcy Code

Overview

In Highland Capital Mgmt. v. Dondero (In re Highland Capital Mgmt.), Case No. 21-03007-sgj (Bankr. N.D. Tex. 2021), the U.S. Bankruptcy Court for the Northern District of Texas held that a debtor could not be compelled to abide by an arbitration clause in an agreement that was rejected pursuant to Section 365 of the Bankruptcy Code.

Background

Plaintiff Highland Capital Management L.P. (“Highland”) originally filed four adversary proceedings to collect on large promissory notes owed to it (collectively, the “Note Adversary Proceedings”) from the various obligors under the notes (the “Note Obligor Defendants”). Each Note Obligor Defendant was closely related to Highland’s former president, James Dondero, and collectively borrowed tens of millions of dollars from Highland prepetition.

Read the full article

JD Supra by Nancy Bello. Published January 11, 2021.

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