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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.
| Court | Filed | Debtor | Case No | Attorney | Assets | Liabilities |
|---|---|---|---|---|---|---|
| S.D. Cal. | 3/13/2023 | Laura's Original Boston Brownies, Inc. | 23-00656 | Paul Leeds | $1M-$10M | $1M-$10M |
| N.D. Cal. | 3/13/2023 | The Roman Catholic Bishop of Santa Rosa | 23-10113 | Paul J Pascuzzi | $10M-$50M | $10M-$50M |
| S.D. Tex. | 3/13/2023 | Gardner Agency of Texas, LLC | 23-30883 | Dean W. Greer | $0-$50k | $1M-$10M |
| N.D. Tex. | 3/13/2023 | Top Sports Production LLC | 23-40708 | Robert C Lane | $0-$50k | $1M-$10M |
| S.D. Fla. | 3/13/2023 | Allied Aerospace, Inc. | 23-11948 | Richard Siegmeister | $0-$50k | $0-$50k |
| M.D. Fla. | 3/13/2023 | Gumtree Digital LLC | 23-00908 | Daniel A. Velasquez | $0-$50k | $0-$50k |
| N.D. Fla. | 3/13/2023 | Integrated Cooling Experts, Inc. | 23-30159 | Byron W. Wright III | $0-$50k | $100k-$500k |
| S.D. Fla. | 3/13/2023 | New Beginning Missionary Baptist Church Inc. (Second filing) | 23-11933 | Peter Spindel | $1M-$10M | $500k-$1M |
| M.D. Fla. | 3/13/2023 | The Dive Place II LLC | 23-00907 | Daniel A. Velasquez | $100k-$500k | $500k-$1M |
| E.D. Ark. | 3/13/2023 | Greater Fellowship Ministries, Inc. | 23-10710 | Frank H. Falkner | $100k-$500k | $1M-$10M |
| D.P.R. | 3/13/2023 | MIVA INSURANCE CORP | 23-00731 | Javier Vilarino | $0-$50k | $100k-$500k |
| D. Del. | 3/12/2023 | World Marine Offshore A/S | 23-10303 | Jeremy W. Ryan | ||
| D. Md. | 3/12/2023 | Nightmare Graphics, Inc. | 23-11647 | Michael Coyle | $100k-$500k | $1M-$10M |
| N.D. Ill. | 3/11/2023 | R&W Clark Construction, Inc. | 23-03279 | Gregory K. Stern | $0-$50k | $1M-$10M |
| S.D.N.Y. | 3/10/2023 | JPDFAB Inc. | 23-22193 | Anne Penachio | $0-$50k | $100k-$500k |
| E.D. Cal. | 3/10/2023 | Madera Community Hospital | 23-10457 | Riley C. Walter | $50M-$100M | $10M-$50M |
| E.D. Cal. | 3/10/2023 | Point Buckler Club, LLC | 23-20755 | Marc Voisenat | $1M-$10M | $10M-$50M |
| N.D. Ill. | 3/10/2023 | DIJ Group, Inc. | 23-03257 | Saulius Modestas | $0-$50k | $1M-$10M |
| S.D. Tex. | 3/10/2023 | Loyalty Ventures Inc. | 23-90111 | Matthew D. Cavenaugh | $1M-$10M | $500M-$1B |
| S.D. Tex. | 3/10/2023 | Loyalty Ventures Inc. | 23-90111 | Matthew D. Cavenaugh | $1M-$10M | $500M-$1B |
Silicon Valley Bank’s Bankruptcy and Offshore Oil and Gas
On Friday, the Federal Deposit Insurance Company seized the assets of Silicon Valley Bank, the nation’s 16th largest bank, located in the heart of the global tech industry. This is the largest bank failure since the 2008 financial crisis and the second largest in U.S. banking history.
SVB failed when there was a “run on the bank.” It happens when depositors ask for their money back and the bank lacks sufficient cash. Banks operate by “borrowing short and lending long.” The difference between the interest rate paid and received is the “interest spread” and it funds a bank’s operations and generates its profits. That spread has been upended by the Federal Reserve’s campaign to control inflation.
Read the full articleWorkBoat by G. Allen Brooks. Published March 13, 2023.
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| A Judge Has Ordered the Philadelphia Insectarium to Pay $928K in a Years-Long Foreclosure Case |
| Court Approves ‘Compromise’ QHC Bankruptcy/Debtor Plan for Iowa Provider |
| Diamond Sports Expected to File for Bankruptcy This Week |
| Discount Retailer Plans Major Change After Filing for Bankruptcy – See if Your City Will Be Affected |
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