Bankruptcy

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by G. Trippe Hawthorne The Louisiana State Licensing Board for Contractors has updated and revised its rules, found in Title 46, Part XXIX of the Louisiana Administrative Code. The Board characterizes these revise rules as intended to simplify and streamline the application and examination process for licensed contractors and those seeking to become licensed contractors. A brief summary of the changes can be found in the Licensing Board’s Bulletin 19-01 here. For commercial contractors,…
GEEnergy Holding Co. LLC, along with its wholly owned operating subsidiary, BBPC LLC (dba Great Eastern Energy), has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-10303).  Headquartered in Brooklyn, NY, Great Eastern Energy is a non-utility retailer of electricity and natural gas operating in New York, New Jersey, Massachusetts and Connecticut.  The First Day Declaration explains that the Debtors have filed…
An official notice from the Judicial Conference of the United States was just published announcing that certain dollar amounts in the Bankruptcy Code will be increased about 6.2% this time for new cases filed on or after April 1, 2019. Follow this link for the Federal Register page with a chart listing all of the updated dollar amounts.  Among the most meaningful increases for Chapter 11 and other business bankruptcy cases: The employee compensation…
Interesting times ahead as Imerys filed a chapter 11 petition in an effort to try to manage the mesothelioma and ovarian cancer claims against it and other entities.  The petition and a related declaration list the top 30 plaintiff firms, which includes numerous plaintiff firms that are not “regulars” in chapter 11 asbestos cases, as well as some firms who are regulars. The list of “regulars” includes Motley Rice and the Simmons firm. The declaration…
Yesterday, Imerys Talc America and two affiliated entities filed for chapter 11 bankruptcy protection in the Delaware Bankruptcy Court (Case No. 19-10289). The case is pending before Judge Silverstein. The first day affidavit filed in support of the Debtors’ chapter 11 petitions reveals that the Debtors are in the business of mining, processing and distributing talc.  They supply it to third-party manufactures fur use in personal care and cosmetic products sold to consumers, such as…
There has always been a tension between protecting the interests of defined benefit pension schemes and insolvency given on the one hand The Pensions Regulator (TPR) seeks to protect the interests of pension scheme members and the Pension Protection Fund and on the other, the insolvency regime seeks to protect the interests of creditors as a whole. We published an article in July 2018 reporting on a consultation paper issued by The Department for Work…
Imerys Talc America, Inc., along with two affiliates and subsidiaries, has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-10289).  The petition estimates the combined assets of the U.S. Debtors to be between $100–$500 million and their combined liabilities to be between $50–$100 million.  According to a press release issued this morning, the Debtors have filed for chapter 11 in order to…
Upcoming Committee Formation Meeting: Tuesday, February 19, 2019 Case Name: 19-10248 (CSS) Location: Delaware State Bar Association 405 King Street, 2nd Floor Wilmington, DE 19801 Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. See the petition for relief. Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter.…
The Big Question. What is the effect of rejection of a trademark license by a debtor-licensor? Over the past few years, this blog has followed the Tempnology case out of New Hampshire raising just that issue. The case has gone from the bankruptcy court, to the Bankruptcy Appellate Panel, and then to the First Circuit. Last August, I wrote about how the case could be headed to the Supreme Court. In late October,…
The New Jersey Law Journal recently published an article discussing the breadth and extent of bankruptcy court jurisdiction as applied by the Third Circuit Court of Appeals.  The article discusses three cases from last year: (i) Phila. Entm’t & Dev. Partners v. Dep’t of Revenue, 879 F.3d 492 (3d Cir. 2018), (ii) IMMC Corp. v. Erickson, 909 F.3d 589 (3d Cir. 2018), and (iii) In re Tribune Media Co., 902 F.3d 384 (3d Cir. 2018).…