Bankruptcy & Restructuring Law

Creditors often think that an involuntary bankruptcy petition is a great bargaining chip when faced with a recalcitrant debtor. However, the actual filing of an involuntary bankruptcy petition (when that petition is filed in “bad faith”) confers a considerable risk to the petitioning creditors.  Recently, the United States Court of Appeals for the Third Circuit issued an opinion that re-emphasizes just how risky bad faith involuntary petitions can be for creditors. In that non-precedential opinion…
Upcoming Committee Formation Meeting: Thursday, August 23 2018 10:00 AM Case Name: 18-11814 (BLS) Location: Office of the US Trustee, 844 King Street, Room 3209, 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.…
Upcoming Committee Formation Meeting:  Friday, August 17 10:00 AM Case Name: 18-11975 (MFW) Location:The Doubletree Hotel, 700 King Street, 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.…
Upcoming Committee Formation Meeting:  Thursday, August 16 10:00 AM Case Name: 18-11818 (KJC) Location: The Du Pont Hotel, 42 W. 11th Street, 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.…
Upcoming Committee Formation Meeting:  Thursday, August 16 10:00 AM Case Name: 18-11801 (LSS) Location:The Doubletree Hotel, 700 King Street, 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.…
Upcoming Committee Formation Meeting:  Tuesday, August 14 10:00 AM Case Name: 18-11699 (MFW) Location:The Doubletree Hotel, 700 King Street, 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.…
Samuels Jewelers, Inc., a jewelry retailer headquartered in Austin, Texas, with over 100 stores in 22 states, has filed a petition for relief under chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 11818).  Samuels’ Petition reports an estimate $100–$500 million in both assets and liabilities, and reports that funds will be available for distribution to unsecured creditors.  Samuels made headlines in May when it retained restructuring…
Noon Mediterranean, Inc. (f/k/a Verts Mediterranean Grill), has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 18-11814).  Noon, a casual restaurant chain headquartered in New York, New York, has nineteen locations in four states, thirteen of which are in Texas.  Noon’s Petition reports an estimated $1–$10 million in assets and $10–$50 million in liabilities.  No other pleadings have yet been filed.  A claims and…
J&M Sales Inc., along with nine subsidiaries and affiliates, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-11801).  The Debtors, based in Gardena, California, are a discount retailer of brand name apparel and household items, with 344 stores and over 9,800 employees nationwide.  According to the First Day Declaration, the Debtors enter Chapter 11 intending to pursue either a sale…
RM Holdco LLC (dba Real Mex Restaurants), along with five subsidiaries and affiliates, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-11795).  The Debtors, one of the largest full service Mexican casual dining chain operators in the United States, operates eighty restaurants, primarily through three brand names: (1) El Torito; (2) Chevys Fresh Mex; and (3) Acapulco.  According to…