Starting on February 18, 2021, Insys Liquidation Trust (“Insys Trust”), the liquidation trust appointed by the United States Bankruptcy Court for the District of Delaware to prosecute claims on behalf of Insys Therapeutics, Inc., filed approximately 53 complaints seeking the avoidance and recovery of allegedly preferential and/or fraudulent transfers under Sections 547, 548, 549 and 550 of the Bankruptcy Code, along with the disallowance of claims under Section 502(d) of the Bankruptcy Code. By way of…

Another energy company has succumbed to bankruptcy in the wake of the Covid-19 pandemic. Nine Point Energy Holdings, Inc., a private exploration & production company focused on the Williston Basin, and its affiliates, including Foxtrot Resources LLC, filed for chapter 11 protection in the United States Bankruptcy Court for the District of Delaware, on March 15, 2021.  The Chapter 11 petition states that the company’s liabilities are between $100 million and $500 million. The Denver-based…

Champion Property Holdings, LLC and Anglin Cultured Stone Products LLC (“Debtors”) each filed for Chapter 11 bankruptcy protection with the Delaware Bankruptcy Court on February 10, 2021. According to Debtors’ Petitions, their assets total between $100k – $500k, and their liabilities total between $1 million and $10 million. A Subchapter V Trustee was appointed to the action.  A Subchapter V Trustee is generally responsible for facilitating a repayment plan and reaching a resolution with creditors.…