New Cases

Specialty gadget retailer Brookstone Inc.

The Trenton Titans, the Philadelphia Flyers’ minor league affiliate, is winding down in Chapter 7 bankruptcy after canceling its 2014 season.

The team—which filed for bankruptcy on March 11 with the U.S. Bankruptcy Court in Trenton, N.J., as Blue Line Sports LLC—claimed no assets and nearly $500,000 in debts in court documents. A Chapter 7 filing usually indicates a company’s intent to liquidate, as opposed to Chapter 11, which often means the company plans to continue operations and restructure its debt.

A newly formed shareholder group is ready to rumble in Overseas Shipholding Group Inc.’s bankruptcy, arguing in its first court appearance that the shipping company’s restructuring deal doesn’t offer enough value to equity and is the product of “flawed” negotiations. Read the Daily Bankruptcy Review article via The Wall Street Journal.

Creditors of Jacoby & Meyers Bankruptcy LLP want to push the firm into involuntary bankruptcy so they can get paid. Read the Daily Bankruptcy Review article via Law Blog.

Sandwich chain Quiznos filed for Chapter 11 bankruptcy protection