On March 30, 2022, MD Helicopters, Inc. of Mesa, AZ filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 22-10263). The company is a helicopter supplier
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Latest from Cole Schotz P.C - Page 7
Is Your Contract Ready for the Ongoing Impact of COVID?
The COVID-19 pandemic has lasted two years, and while offices, projects, and the rest of life begin to return to pre-pandemic normal, the construction material supply chain and costs have not. In fact, it appears as though the impact on…
New Chapter 11 Filing – Footprint Power
By Cole Schotz
On March 23, 2022, Massachusetts-based Footprint Power Salem Harbor Development LP and certain affiliates, which operate a 674 MW natural gas-fired combined-cycle electric power plant in Salem, Massachusetts, filed a petition for relief under Chapter 11 of the Bankruptcy Code…
New York Creates Conditional Retail Dispensary Licenses
On March 10, 2022, the New York State Cannabis Control Board released proposed regulations for conditional adult-use retail dispensaries. This follows the announcement on February 22, 2022 that New York would grant conditional cultivation and processing licenses to certain qualified…
New York Creates Conditional Adult-Use Cultivator and Processor Licenses
On February 22, 2022, Gov. Hochul signed into law an act creating conditional licenses for adult-use cannabis cultivators and processors. Then, on March 10, 2022, the New York State Cannabis Control Board released proposed regulations for conditional adult-use retail dispensaries.…
New Chapter 11 Filing – Buyk Corp
By Cole Schotz
On March 17, 2022, New York-based Buyk Corp., a mobile app grocery delivery service operating in New York and Chicago, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District…
Tax Court Shuns Traditional Survey Derived Capitalization Rate Determinations and Champions Reliance Upon The Band of Investment Technique Instead
In a recently decided case 3 University Plaza SPE, LLC v. City of Hackensack 5002-2014, 1670-2015, 3553-2016, 1163-2017, 3768-2018, 12891-2019 – 3 University Plaza SPE LLC, et al. v. Hackensack City (njcourts.gov) concerning a large 225,000 square foot class A…
New York Department of Labor Issues Required Notice for Expanded Whistleblower Protection Law
The New York State Department of Labor (“NYDOL”) issued a form of required notice that New York employers must post to comply with the State’s recently amended whistleblower protection law. As we previously reported, the amendments to Section 140…
Filing a Lis Pendens in New Jersey? Proceed with Caution
On February 3, 2022, New Jersey’s Appellate Division issued a decision for publication addressing the scope of the common law litigation privilege and, among other things, whether that privilege attaches to the filing of a notice of lis pendens. This…
New Chapter 11 Filing – Tracer Filing LLC
By Cole Schotz
On February 3, 2022, Tracer Roofing of Humble, TX filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of Texas (Case No. 22-30314). The petition indicates that the debtor…