DelawareBankruptcyLitigation

Fresh & Easy Section 341 Meeting of Creditors Scheduled

11/09/15

In the Fresh & Easy, LLC bankruptcy proceeding, a Section 341 Meeting of Creditors has been scheduled for Thursday, December 3, 2015 at 10:00 a.m. (ET) at the J. Caleb Boggs Federal Court House, 844 N. King Street, Fifth Fl., Wilmington, DE 19801.

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Revstone Industries – Venue Transfer Granted for a Fraudulent Transfer Adversary Proceeding

11/04/15

On November 2, 2015, Judge Brendan L. Shannon walked a pair of litigants through the factors used in the Third Circuit to determine whether to grant a motion to transfer venue.  In the adversary proceeding Fred C. Caruso v. Fasig-Tipton Co. (In re: Revstone Industries), docketed as Adversary Case No. 14-50468, Judge Shannon issued a memorandum order (the “Opinion”) laying out, and walking the parties through, the twelve-factor test provided by the Third Circuit in Jumara v. State Farm Ins. Co., 55 F.3d 873 (3d Cir. 1995).

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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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RadioShack Preference Litigation has Begun – En Masse

11/02/15

On February 5, 2015, RadioShack and various related entities filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  We initially published a blog post about the filing here: RadioShack Pulls the Plug.  On October 2, 2015, the Court confirmed the Plan of Liquidation in the RadioShack cases

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Affirmative Insurance Holdings, Inc. Files for Bankruptcy – 341 and Formation Meetings Scheduled

10/29/15

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 presided over by Judge Christopher S. Sontchi.  The first day hearing was held on October 19, 2015.  The second day hearing is scheduled for November 18, 2015 at 12:30 p.m.

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Green Field Energy Services – Preference Actions Filed

10/26/15

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 Bankruptcy Court for the District of Delaware.  We initially published a blog post about the filing here: Green Field Energy Files for Bankruptcy Protection in Delaware.

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Chopper Express Preference Actions Filed

10/26/15

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., and Pumpernickel Express, Inc. (“Debtors”), filed approximately 54 preference actions in early October 2015 seeking the avoidance and recovery of allegedly fraudulent transfers under Sections 547 and 550 of the Bankruptcy Code.

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The Value of a Mobile Asset

10/19/15

On October 19, 2015, Judge Brendan L. Shannon issued an opinion defining the value of a “mobile” asset; in this case, a mobile home.  In an adversary proceeding Welch v. Sun National Bank, docketed as Adversary Case No. 14-50777, Judge Shannon issued a letter opinion analyzing the valuation appropriate for a mobile home (the “Opinion”).  A link to the Opinion is here.

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Wire Company Holdings – Section 341 Meeting of Creditors Scheduled

10/19/15

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. (ET) at the J. Caleb Boggs Federal Building, 844 King Street, Room 5209, Wilmington, DE 19801.

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Wire Company Holdings, Inc. Files for Chapter 11 Protection – Seeks Sale of Assets

10/13/15

Wire Company Holdings, Inc. (d/b/a New York Wire) and Wire Property Holdings, LLC filed chapter 11 petitions before the United States Bankruptcy Court for the District of Delaware on October 8, 2015 (lead case number 15-12097-LSS).  As set forth below, the Debtors seek authority to sell substantially all of their assets.

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