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Wednesday, June 1, 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. Del.6/1/2022Port Neches Fuels, LLC22-10500Robert J. Dehney$1B-$10B$1B-$10B
D. Del.6/1/2022Texas Butylene Chemical Corporation22-10497Robert J. Dehney$1B-$10B$1B-$10B
D. Del.6/1/2022Texas Olefins Domestic International Sales Corporation22-10498Robert J. Dehney$1B-$10B$1B-$10B
D. Del.6/1/2022TP Capital Corp.22-10496Robert J. Dehney$1B-$10B$1B-$10B
D. Del.6/1/2022TPC Group Inc.22-10493Robert J. Dehney$1B-$10B$1B-$10B
D. Del.6/1/2022TPC Group LLC22-10495Robert J. Dehney$1B-$10B$1B-$10B
D. Del.6/1/2022TPC Holdings, Inc.22-10494Robert J. Dehney$1B-$10B$1B-$10B
D. Del.6/1/2022TPC Phoenix Fuels LLC22-10499Robert J. Dehney$1B-$10B$1B-$10B
C.D. Cal.5/31/2022Dr. R'Kione Britton Chiropractic Corporation22-13004Steven E. Cowen, Esq.$100k-$500k$1M-$10M
E.D. Tex.5/31/2022BAPA Brooklyn 2004, LLC22-40672Kim T. Cole$1M-$10M
S.D. Tex.5/31/2022MERISOL VILLAGES, LLC22-20135Raymond Battaglia$1M-$10M$1M-$10M
S.D. Fla.5/31/20226229 NE 2nd Avenue LLC22-14331Steven Beiley$0-$50k$1M-$10M
M.D. Fla.5/31/2022FG Capital Holdings, LLC22-00581Justin M. Luna$500k-$1M$500k-$1M
M.D. Fla.5/31/2022Finmark Strategy Partners, LLC22-00580Justin M. Luna$1M-$10M$1M-$10M
D. Colo.5/31/2022Lakeport CF, LLC22-11941Jeffrey A. Weinman$10M-$50M$10M-$50M
D. Mont.5/31/2022ITC Grain International, Inc.22-10063Steven M. Johnson$1M-$10M$1M-$10M
M.D.N.C.5/31/2022ZZ Home Care, LLC22-10281Rebecca F. Redwine$100k-$500k$1M-$10M
M.D. Tenn.5/31/2022Connect Trucking, LLC22-01713Steven L. Lefkovitz$0-$50k$100k-$500k
C.D. Cal.5/30/2022H & H Investments, LLC22-12998Michael Kwasigroch$500k-$1M$100k-$500k
S.D. Fla.5/30/2022Johnson & Johnson Construction Company Corp.22-14226Brian K. McMahon$500k-$1M$1M-$10M

View All Filings
Featured Article

DAOs and Bankruptcy

They are all the rage: People are forming decentralized autonomous organizations (DAOs) as vehicles to purchase or bid on a wide range of assets—NFL teams, golf courses, fossil-fuel companies, even a copy of the U.S. Constitution. In our previous client alerts about DAOs, we looked at what DAOs are, their tax considerations, and regulatory questions. In this, the latest edition, we are looking at DAOs and bankruptcy.

We have seen some of what DAOs can do, but what opportunities might they have to purchase assets from a distressed or defunct entity in bankruptcy? Can the benefits of using a DAO be coupled with the 363 sale process to acquire assets “free and clear” under the supervision of a bankruptcy court? What are the advantages and disadvantages associated with using a DAO? This alert will explore these issues and attempt to answer some of those questions.

Read the full article

O’Melveny & Myers LLP. Published May 24, 2022.

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Brian Osborne Paul Deutch Alison Miller
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