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Thursday, August 4, 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
E.D.N.Y.8/3/2022Cornell West 34 Holder LLC22-41888Kevin Nash, Esq.$1M-$10M$1M-$10M
S.D.N.Y.8/3/2022Grey Brown Inc.22-11065James J. DeCristofaro, Esq.$0-$50k$1M-$10M
S.D.N.Y.8/3/2022Oaxaca 1198 1st Avenue LLC22-11063James J. DeCristofaro, Esq.$50k-$100k$1M-$10M
S.D.N.Y.8/3/2022Oaxaca Amsterdam Avenue LLC22-11062James J. DeCristofaro, Esq.$50k-$100k$1M-$10M
S.D.N.Y.8/3/2022Oaxaca Halsey Street LLC22-11064James J. DeCristofaro, Esq.$50k-$100k$1M-$10M
W.D. Tex.8/3/2022ClearedDirect, LLC22-10497Robert C Lane$100k-$500k$100k-$500k
N.D. Tex.8/3/2022GMS Medical Company, LLC22-31412Guy Holman$0-$50k$100k-$500k
D.N.J.8/3/2022Andrei J. Investors, LLC22-16127Philip L. Guarino$1M-$10M$500k-$1M
D.N.J.8/3/2022Assuncao Bros., Inc.22-16159Joseph J. DiPasquale$1M-$10M$1M-$10M
W.E. Ky.8/3/2022Louisville Processing & Cold Storage, Inc.22-31479Charity S. Bird$1M-$10M$1M-$10M
W.E. Ky.8/3/2022Riverport Holding, LLC22-31480Charity S. Bird$1M-$10M$1M-$10M
M.D. La.8/3/2022Custom Construction of Louisiana, LLC22-10393Arthur A. Vingiello$100k-$500k$100k-$500k
N.D. Ohio8/3/2022Trusential, LLC22-31144Patricia A. Kovacs$500k-$1M$100k-$500k
E.D. Va.8/3/2022Mathis & Mathis, Inc.22-11022Jonathan B. Vivona$0-$50k$100k-$500k
S.D.N.Y.8/2/2022GetSwift Technologies Limited22-11057Janice B. Grubin$1M-$10M$1M-$10M
S.D.N.Y.8/2/2022GetSwift Technologies Limited22-11058Janice B. Grubin$1M-$10M$1M-$10M
N.D. Cal.8/2/2022Interior Commercial Installation, Inc (Second Filing)22-40745Lars Fuller$1M-$10M$500k-$1M
E.D. Tex.8/2/2022Triniti DME Solutions, LLC22-40975Robert C Lane$0-$50k$100k-$500k
M.D. Fla.8/2/2022Weird Vending, LLC22-02772Daniel A. Velasquez$100k-$500k$500k-$1M
D.N.J.8/2/202296 WARD STREET LLC22-16090Avram D. White$100k-$500k$100k-$500k

View All Filings
Featured Article

The Crypto Winter Has Led to Summer Bankruptcies

Despite record-breaking heat waves setting wildfires across the globe this summer, it seems that nothing can thaw the iciness that is the “crypto winter.” Cryptocurrencies collectively have lost two-thirds of their value (approximately $2 trillion) since their 2021 peak. And, we are now beginning to see the impact of this nosedive on the multi-billion dollar ecosystem of crypto hedge funds, crypto lenders, and crypto brokerage firms that have unregulated digital money as their foundation (as well as the impact on their crypto customers who lack the SIPA and FIDC protections afforded to traditional brokerage firm and banking clients).

Three Crypto Giants File for Bankruptcy in Two-Week Span

On July 1, 2022, Three Arrows Capital (3AC) – a Singapore-based crypto hedge fund that had managed $10 billion in assets – filed for Chapter 15 bankruptcy protection. Just one week prior, a BVI court ordered 3AC to liquidate after it suffered heavy losses from the collapses of Luna and other cryptocurrencies and 3AC’s founders reportedly went missing. 3AC also defaulted on a $670 million loan owed to Voyager Digital Ltd., a crypto brokerage and lending firm, that at its height managed $5.9 billion in assets. The mountain of debt does not end there – as 3AC also owes $2.36 billion to another crypto lending firm.

Read the full article

Credit Chronometer by Joseph Cioffi. Published August 2, 2022.

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