Chapter 11

Fresh & Easy, LLC Files for Bankruptcy in Delaware

11/02/15

On October 30, 2015, Fresh & Easy, LLC (“Debtor”) filed a petition for bankruptcy under Chapter 11 of the United States Bankruptcy Code.  Exide filed for bankruptcy in the United States Bankruptcy Court for the District of Delaware. At the time of its bankruptcy filing, Fresh & Easy had 97 stores in California, Arizona and Nevada.

Chief financial officer Peter McPhee signed court documents indicating the company has assets of $10 million to $50 million and debts of between $100 million and $500 million.

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Energy Future Holdings – Kicking a Very Large Can Down the Road

10/01/15

Energy Future Holdings (“EFH” or “Debtors”) has cleared all of the preliminary hurdles in its path as it moves towards the confirmation of its plan of reorganization (the “Plan”). Last week Judge Christopher Sontchi of the United States Bankruptcy Court for the District of Delaware approved the Debtors’ disclosure statement in support of the Plan, authorized the Plan to be distributed to creditors for voting purposes, and scheduled the hearing on Plan confirmation to begin on November 3.

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Santa Fe Gold Corp. Files for Bankruptcy

08/31/15

On August 26, 2015, Santa Fe Gold Corporation and three of its subsidiaries, filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware (the “Court”).  The case no. is 15-11761 and is pending before the Honorable Mary F. Walrath.

The Debtors are continuing in possession of their properties and are managing their businesses, as debtors in possession, in accordance with the applicable provisions of the Bankruptcy Code and orders of the Court.

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Baker Botts v. Asarco: The Supreme Court Shows Again That It Really Doesn’t Understand Corporate Bankruptcy Cases

06/18/15

The Supreme Court has not handled its recent major bankruptcy decisions well. The jurisdictional confusion engendered by its 2011 decision in Stern v. Marshall was only partially clarified by this term’s opinion in Wellness International Network v. Sharif.

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Frederick’s of Hollywood Files Chapter 11 Bankruptcy in Delaware

04/21/15

On April 19, 2015, Frederick’s of Hollywood, Inc., and its affiliated companies (the “Debtors” or “Frederick’s”) filed chapter 11 bankruptcy petitions in the United States Bankruptcy Court for the District of Delaware.  At the time of the bankruptcy filing, the Debtors held assets in the amount of $36.5 million, and debts in the amount of $106 million.

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Energy Future Holdings – Bidding Procedures Fight Highlights Conflicts Among Affiliated Debtors

12/12/14

Energy Future Holdings (EFH), f/k/a TXU Corp., an energy company centered in Texas, was taken private in 2007 in the largest leveraged buyout transaction that has ever taken place.  The deal was largely predicated on an anticipated rise in natural gas prices; when prices instead plummeted the company, which had borrowed nearly $40 billion, was left with a massively unbalanced capital structure.  The chapter 11 cases of EFH and its subsidiaries

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ABI Commission Unveils Chapter 11 Recommendations

12/07/14
The ABI Commission to Study the Reform of Chapter 11 unveiled a summary of its recommendations at the Winter Leadership Conference on December 4 in La Quinta, California.   The full report will be released on December 6 and contains 240 recommendations in a report spanning four hundred pages and twelve hundred footnotes.
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