DelawareBankruptcyLitigation

Follow the leading voices of Fox Rothschild’s national Financial Restructuring and Bankruptcy Practice at In Solvency, a new blog that brings understandable insights to the latest trends and developments in prominent bankruptcy cases and provides practical takeaways to creditors, creditor committees, debtors and businesses navigating issues surrounding financial distress. Our deep familiarity working with bankruptcy trustees offers critical perspectives into their needs, roles and appointment.

Fox Partner Mette Kurth discusses the NovaSom, Inc.’s recent  Chapter 11 case in Delaware:

NovaSom, Inc. has filed a Chapter 11 case in Delaware in order to sell its business through a “363” bankruptcy auction. We are providing you with information about the case that you can forward on if you have clients who may be interested in purchasing any of NovaSom’s assets.

Earlier this month, Mattress Firm, Inc., and its affiliated debtors (collectively, “Mattress Firm”) filed for chapter 11 protection in the United States Bankruptcy Court for the District of Delaware.  Through the bankruptcy, Mattress Firm expects to complete a prepackaged restructuring within 45 to 60 days.

Commercial landlords need to pay close attention to this bankruptcy.  Mattress Firm has already filed court motions for approval to reject up to 700 leases and will begin to close roughly 200 stores in the next few days.

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On April 5, 2018, VER Technologies Holdco LLC, along with eight subsidiaries and affiliates (collectively, “VER”), filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware (Case No. 18-10834).