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Restructuring Globalview
How The Casino Kept Its Chips From A Bankruptcy Claw-Back
Insiders who loot their corporate entities often dispose of the cash proceeds in transactions with third parties. A recent Seventh Circuit opinion, In re Equipment Acquisition Resources, Inc., 14-2174 (7th…
Global Restructuring Watch
New York Law Governed Bonds are Sufficient “Property” for U.S. Bankruptcy Court Jurisdiction
By Elizabeth A. McGovern, Michael Venditto
To qualify as a “debtor” under the U.S. Bankruptcy Code, an entity must reside, have a place of business or property in the U.S. It is common for non-U.S. entities…
Delaware Bankruptcy Update
Affirmative Insurance Holdings, Inc. Files for Bankruptcy – 341 and Formation Meetings Scheduled
On October 14, 2015, Affirmative Insurance Holdings, Inc. and 7 affiliates filed for relief under chapter 11 of the Bankruptcy Code. The cases are jointly administered under Case Number 15-12136 and…
Consumer Finance Monitor
Beating a dead horse: CFPB announces default judgment against Corinthian
The CFPB announced that it has obtained a final default judgment against Corinthian Colleges, Inc. from the Illinois federal court in which it sued Corinthian in September 2014. In May…
In Solvency
Green Field Energy Services – Preference Actions Filed
By Fox Rothschild LLP, Fox Rothschild LLP
On October 27, 2013, Green Field Energy Service, Inc. and a number of subsidiaries (the "Debtors") filed for bankruptcy under Chapter 11 of the Bankruptcy Code in the United States…
Delaware Bankruptcy Update
Chopper Express Preference Actions Filed
In the United States Bankruptcy Court for the District of New Jersey, Charles Forman, the Chapter 7 Trustee to the debtors, Chopper Express, Inc., Chopper DDS, Inc., Life Trucking, Inc.,…
In Solvency
Chopper Express Preference Actions Filed
In the United States Bankruptcy Court for the District of New Jersey, Charles Forman, the Chapter 7 Trustee to the debtors, Chopper Express, Inc., Chopper DDS, Inc., Life Trucking, Inc.,…
Delaware Bankruptcy Update
Wire Company Holdings – Section 341 Meeting of Creditors Scheduled
In the Wire Company Holdings, Inc. bankruptcy proceeding (Delaware Bankruptcy Case No. 15-12097-LSS), the U.S. Trustee has scheduled a Section 341 Meeting of Creditors for November 17, 2015 at 1:00 p.m.…
Texas Bankruptcy Blog
Donald Trump, 50 Cent, and Chapter 11 Bankruptcy
By Bryan Fears
During the recent Republican debate in Cleveland, Donald Trump stated that he has never filed a personal bankruptcy. However, his companies have filed for Chapter 11 bankruptcy protection four times…
In Solvency
Malibu Lighting Corporation Files for Chapter 11 Bankruptcy
By Fox Rothschild LLP, Fox Rothschild LLP
On October 8, 2015, Malibu Lighting Corporation and 6 affiliates filed for relief under chapter 11 of the Bankruptcy Code. The cases are jointly administered under Case Number 15-12080 and…