Help Center

ABI Blog Exchange

Upcoming Committee Formation Meeting:   Thursday, February 11, 2016, 10:00 a.m. Case Name:  Liquid Holdings Group, Inc., et al. Case Number:  16-10202 (KG) Location:  State Bar of Delaware 405 N. King St. Wilmington, DE 19801 The debtor’s petition is available here, and additional documents are available from the Court’s website.  The company has released a press release regarding its bankruptcy filing. Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. Contact Norman L. Pernick, Nicholas J. Brannick, or David W. Giattino for more information.  
8 hours 14 min ago
Upcoming Committee Formation Meeting: February 11, 2016, 12:00 p.m. Case Name: Outer Harbor Terminal, LLC Case Number: 16-10283 (LSS) Location: The Sheraton Suites Wilmington Downtown, 422 Delaware Ave., Wilmington, DE 19801 Notice of Formation Meeting for Official Committee of Unsecured Creditors is available here. The petition, including the consolidated list of top 20 creditors, is provided.  A press release regarding the termination of the debtor’s operations at the Outer Harbor Terminal in Oakland is available here. Contact Norman L. Pernick, Nicholas J. Brannick, or David W. Giattino for more information.
8 hours 21 min ago
Upcoming Committee Formation Meeting: February 12, 2016, 10:00 a.m. Case Name: Ryckman Creek Resources, LLC, et al. Case Number: 16-10292 (KJC) Location: The DoubleTree Hotel, 700 King St.,Wilmington, DE 1980 Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. The petition, including a consolidated list of top 30 creditors with the U.S. Bankruptcy Court for the District of Delaware are available from Kurtzman Carson Consultants, LLC. Contact Norman L. Pernick, Nicholas J. Brannick, or David W. Giattino for more information.  
8 hours 27 min ago
Despite their recent growth, too few marketplace lenders are reporting data to the consumer reporting agencies, which could negative repercussions on the financial system.

Read More from: BankThink

8 hours 32 min ago
Upcoming Committee Formation Meeting:  Wednesday, February 10, 2016, 10:00 a.m. Case Name: Hancock Fabrics, Inc., et al. Case Number:  16-10296 (BLS) Location: The DoubleTree Hotel, 700 King St.,Wilmington, DE 1980 The petitions (including the consolidated list of top 30 creditors), the first day declaration and the docket for the cases are available through Kurtzman Carson Consultants.  The company has issued a press release regarding its restructuring. Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. Contact Norman L. Pernick, Nicholas J. Brannick, or David W. Giattino for more information.  
8 hours 32 min ago
Receiving Wide Coverage ... Democratic Candidates Debate: Wall Street took top billing amongst the topics of Thursday's Democratic presidential debate between remaining contenders Sen. Bernie Sanders, of Vermont, and former Secretary of State Hillary Clinton. Throughout the evening, Sanders repeatedly criticized Clinton for her connections to the financial services industry – and the way in which those connections appear to have benefited her campaign's bank account. "What being part of the establishment is, is in the...

Read More from: BankThink

8 hours 33 min ago
With the rising popularity and convenience of mobile ride hailing services such as Uber and Lyft, taxi companies are finding it difficult to keep up. Recently, Yellow Cab Cooperative in San Francisco filed for Chapter 11 bankruptcy protection. While some may see this as a sign that the traditional cab is a thing of the past, new market competition is not the only reason for the filing. Marketwatch pointed out that Yellow Cab was found liable for $8 million due to a wreck that left a passenger partially paralyzed. Yellow Cab tried to argue that the driver was an independent contractor, and therefore the company was not responsible. They were not successful with that argument and were found liable for the passenger’s injuries. This was not the only judgment against the company. Uber and Lyft both operate on an independent contractor model and, I’m sure, hope they are more successful than Yellow Cab in defending similar lawsuits that are sure to come.

Read More from: Bonds & Botes, P.C.

8 hours 40 min ago
A judge rejected a request to have a trustee oversee the bankruptcy case of KaloBios Pharmaceuticals Inc., which fired Chief Executive Martin Shkreli after he was arrested on securities-fraud charges. The Wall Street Journal has the Daily Bankruptcy Review article here. (Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit http://on.wsj.com/DJBankruptcyNews, scroll to the bottom and click “try for free.”) According to Bloomberg, sporting-goods retailer Sports Authority Inc. is getting ready to file for bankruptcy as a debt payment comes due in 10 days. Freedom Industries Inc. got a $900,000 fine for pollution charges, the Associated Press reports. The oil is rout is threatening to hurt the broad economy, WSJ reports.

Read More from: WSJ.com: Bankruptcy Beat

9 hours 14 min ago
            For this post, I attempted to find every Texas case dealing with a homestead exemption during the period between 2010 and 2015.     Many more cases interpreting the Texas constitutional and statutory laws on homesteads are decided in bankruptcy courts than in reported state court opinions.       I.                   Issues Under Texas LawThe primary Texas constitutional and statutory provisions governing homesteads are included in Appendix A.    For purposes of brevity, I have only included the provisions relevant to the cases discussed in this article.A.    What Property Can Be Claimed As a Texas Homestead?1.      Homestead AllowedWhere debtor’s leasehold interest and option to purchase were part of the same transaction, the debtor could claim a homestead interest in the option even though it was a non-possessory interest.   In re See, 2015 Bankr. LEXIS 2323 (Bankr. W.D. Tex. 2015).    However, where debtor leased property from holder of a life estate and Debtor also held remainder interest, lease was exempt but remainder interest was not.    In re Brunson, 498 B.R. 160 (Bankr. W.D. Tex.
19 hours 25 min ago
This is the fourth and final post in our series on Judge Sontchi’s postpetition interest decision in Energy Future Holdings, issued on October 30, 2015.  Our first post in this series analyzed Judge Sontchi’s ruling that postpetition interest on an unsecured claim does not constitute a part of the unsecured claim itself.  Our second post addressed the court’s use of the federal judgment rate as “the legal rate” under section 726(a)(5) of the Bankruptcy Code.  Our third post addressed the court’s ruling that, to be fair and equitable, a solvent debtor’s chapter 11 plan must provide a dissenting class of unsecured claims with an opportunity to seek postpetition interest based on equitable considerations.  In this post, we discuss the last component of the court’s ruling: that the failure of a chapter 11 to provide postpetition interest on an unsecured claim at the contra
19 hours 45 min ago
On February 2, 2016, Ryckman Creek Resources, LLC and certain of its affiliates, including Peregrine Midstream Partners, LLC (collectively, “Ryckman” or the “Debtors”) filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware in Wilmington. According to the declaration of Ryckman’s Vice President of Restructuring, Robert D. Albergotti (the “Albergotti Declaration”), Ryckman and its Prepetition Lenders are amidst negotiations to propose a plan of reorganization that results in a deleveraged balance sheet and sufficient liquidity to operate the business as a reorganized company. See Albergotti Declaration at 38. Ryckman’s business is comprised of storage of customer natural gas, proprietary trading of inventory gas, and production of liquid hydrocarbons residing in the Ryckman Creek Facility. The Ryckman Creek Facility is a partially-depleted oil and gas reservoir near the Opal Hub in Uinta County, Wyoming, which the Debtors began developing into a natural gas storage facility in 2011. See Albergotti Declaration at 8-12.
1 day 2 hours ago
My husband Andy had a passion to play baseball growing up.  His parents gave him every opportunity to gain valuable experiences to get better by way of camps and coaches every year.   This week, high school kids are signing scholarships with colleges across the country as result of the same kind of support from their schools, coaches and parents.  Andy often talks about the opportunities baseball gave him.  One of my favorite stories is about his opportunity to travel to Australia to play on a team before he graduated high school.  While he was gone, he received a scholarship offer to play baseball for the University of Alabama.  The irony of the story is that shortly before his scholarship offer, he had received a letter from the University that he wasn’t accepted academically.  From Andy’s experience, I would offer these tips for the student athlete:
  1. Don’t blow this opportunity. Most kids are not athletes and can only rely on academics to receive scholarships to go to college.  It’s easy to get wrapped up in the social side of college but remember that your job as a student athlete is to balance your time on the field with the work needed to succeed in the classroom.  Get your degree.

Read More from: Bonds & Botes, P.C.

1 day 3 hours ago
Barclays' Barbara Byrne talks about the impact of conferences, events and endless reports on the state of women's advancement in the workplace. Wall Street women still make 40% less than their male counterparts, the government finds. Could the next U.N. leader be a Bulgarian woman? And a legendary woman in tech on how to achieve gender parity. Also, Cathy Bessant, Louise Roseman and Barbara Boxer.

Read More from: BankThink

1 day 4 hours ago
The amount of complaints in the Consumer Financial Protection BureauÂ's database dealing with payday loans is relatively small, so why is the proposal to regulate payday lenders so sweeping?

Read More from: BankThink

1 day 6 hours ago
Authored by Karl R. GrussWith the real estate markets in large cities such as San Francisco, Washington, D.C. and New York City saturated with domestic and foreign capital, driving market prices beyond the reach of many developers and lenders, investors naturally look for alternative markets that offer lower capital thresholds to entry but project strong future returns. The question then becomes: Where are these secondary markets, and what market characteristics predict future growth? The latest report from the Urban Land Institute (“ULI”) provides an in-depth look at those markets that planners, developers, brokers, financiers and others in the real estate industry believe are poised for the greatest growth, and cities across Florida have piqued the interest of industry insiders.

Read More from: Florida Banking Law Blog

1 day 7 hours ago
It is outside the realm of possibility for bitcoin's blockchain to serve any useful purpose for the intermediaries it was designed to replace.

Read More from: BankThink

1 day 8 hours ago
Upcoming Committee Formation Meeting: February 16, 2016, 1:00 p.m. Case Name: Horsehead Holding Corp., et al. Case Number: 16-10287 (CSS) Location: The DoubleTree Hotel, 700 King St.,Wilmington, DE 1980 Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. The petition (including the consolidated list of top 50 creditors) and the docket are available through Epiq.  The company has issued a press release regarding its bankruptcy filing. Contact Norman L. Pernick, Nicholas J. Brannick, or David W. Giattino for more information.  
1 day 8 hours ago
On February 4, 2016, nine affiliates of Seaboard Realty, LLC filed petitions seeking voluntary relief under chapter 11 of the Bankruptcy Code before the United States Bankruptcy Court for the District of Delaware.  Seaboard Realty, LLC and 14 of its affiliates previously filed chapter 11 petitions on December 13 and 15, 2015.  In conjunction with the follow-on filings, the debtors have filed a consolidated list of top 30 creditors, an additional first day declaration and various motions for relief, all of which are available through Donlin Recano.  A hearing regarding the debtors’ motions will be held before the Honorable Laurie Selber Silverstein on February 5, 2016 at 10:00 a.m.
1 day 8 hours ago
Upcoming Committee Formation Meeting: February 11, 2016, 11:00 a.m. Case Name: RCS Capital Corporation, et al. Case Number: 16-10223 (MFW) Location: The DoubleTree Hotel, 700 King St.,Wilmington, DE 19801 Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. The petitions (including the consolidated list of top 30 creditors) and the dockets for the cases are available through Prime Clerk. Contact Norman L. Pernick, Nicholas J. Brannick, or David W. Giattino for more information.
1 day 8 hours ago
Upcoming Committee Formation Meeting: February 10, 2016, 1:00 p.m. Case Name: Extreme Plastics Plus, Inc., et al. Case Number: 16-10221 (CSS) Location: The DoubleTree Hotel, 700 King St., Salon D, Wilmington, DE 19801 Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. Additional information and documents are available from the Court’s website. Contact Norman L. Pernick, Nicholas J. Brannick, or David W. Giattino for more information.
1 day 8 hours ago

Pages