ATopTech, Inc. (“ATopTech” or “Debtor”), an electronic design automation software company manufacturing software solutions for engineers to assist them in the physical design of integrated circuits, filed a voluntary petition for chapter 11 bankruptcy relief on January 13, 2017 in the
Delaware Bankruptcy Update
Information on Corporate Bankruptcy Proceedings in Delaware and Throughout the United States
Delaware Bankruptcy Update, published by Fox Rothschild LLP, focuses on developments in bankruptcy law and financial restructuring, particularly within the Delaware jurisdiction. The blog covers topics such as Chapter 11 bankruptcy filings, asset sales through bankruptcy auctions, creditor and debtor rights, bankruptcy litigation, and court rulings affecting bankruptcy practice. It also addresses issues relevant to commercial landlords, creditor committees, trustees, and businesses facing financial distress. The blog provides analysis of significant cases, legislative changes, and procedural aspects of bankruptcy, including discharge orders and civil contempt standards. It serves as a resource for practitioners seeking updates on bankruptcy trends, litigation strategies, and restructuring approaches.
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Abeinsa Holding Inc. Obtains Ch. 11 Plan Confirmation
In the recent decision of In re: Abeinsa Holding Inc. et al., Del. Bankr. Ct. Dec. 14, 2016), Case No. 1:16-bk-10790, the Honorable Kevin J. Carey confirmed clean energy developer Abeinsa Holding Inc.’s Chapter 11 plan, which is part…
Modular Space Corporation Files for Chapter 11 Bankruptcy Protection
On December 21, 2016, Modular Space Corporation and its affiliated entities (“Modular Space” or the “Debtors”) filed for bankruptcy protection in the U.S. and Canada, to implement a plan to rework its $1 billion load of long-term debt. Modular Space…
Preference Actions Filed in the Seal123, Inc. Bankruptcy Proceeding
From December 15-21, 2016, the Seal123, Inc. Liquidation Trust filed approximately 68 complaints seeking the avoidance and recovery of allegedly preferential and/or fraudulent transfers under Sections 544 and/or 547, 548 and 550 of the Bankruptcy Code (depending upon the nature…
Dismissal of Preference and Fraudulent Transfer Claims Granted
In the recent decision of George L. Miller v. Edward Welke, et al. (In re United Tax Group, LLC), Adv. Pro. No. 16-50088 (LSS), the Delaware Bankruptcy Court considered a motion for judgment on the pleadings in connection with the…
Formation Meeting Scheduled in Limitless Mobile, LLC Bankruptcy
In the Limitless Mobile, LLC bankruptcy proceeding (Delaware Bankruptcy Case No. 16-12685), a formation meeting has been scheduled for December 16, 2016 at 10:00 a.m. (ET) at the J. Caleb Boggs Federal Building, 844 King Street, Room 3209, Wilmington, DE 19801. …
Limitless Mobile, LLC Files for Chapter 11 Protection
On December 2, 2016, Limitless Mobile, LLC (“Limitless” or the “Debtor”) filed a chapter 11 voluntary petition in the United States Bankruptcy Court for the District of Delaware. The Debtor was formed in 2013 to provide broadband and wireless telecommunication…
Ninth Circuit Requires Debtors to Pay Interest at Default Rate to Cure Default
In the recent decision of Pacifica L51 LLC v. New Invs., Inc. (In re New Invs., Inc.), No. 13-36194, 2016 WL 6543520 (9th Cir. Nov. 4, 2016), the Ninth Circuit held that Section 1123(d) of the Bankruptcy Code legislatively overruled Great W.…
Telephonic Appearances Before Judge Gross Now Through CourtSolutions LLC
Effective January 2, 2017, all telephonic court appearances before the Honorable Kevin Gross of the United States Bankruptcy Court for the District of Delaware will be through CourtSolutions LLC. The alert was issued by the Court today on November 30th.…
Opinion in Altegrity Reinforces the Position of the Bankruptcy Court on “Claims”
On November 28, 2016, Judge Laurie Selber Silverstein of the Delaware Bankruptcy Court ruled on a motion for relief from the automatic stay (we she treated as a motion for relief from the discharge injunction) in the Altegrity bankruptcy, Case No. 15-10226. …