By Scott Riddle Posted in Corporate & Fiduciary Litigation,Miscellaneous CasesIn Jay Alix, as assignee of AlixPartners, LLP v. McKinsey & Co., Inc., 2022 WL 163800 (2nd Cir., January 19, 2022) (click here for .pdf), two major competitors in the niche market of Bankruptcy advising to estates with a billion dollars or more of assets were in court against each other over lucrative consulting assignments.… Continue Reading
By Scott Riddle Posted in Eleventh Circuit CasesIn In re Breland, __ F.3d __ , 2021 WL 910657 (11th Cir., March 10, 2021) (click here for .pdf) the individual Debtor filed a voluntary Chapter 11 petition. After it was determined that he was transferring assets and defrauding his creditors a Chapter 11 Trustee was appointed. [Debtor] protested that the trustee’s appointment violated… Continue Reading
By Scott Riddle Posted in News and Comments,Northern District Cases“It has been said that, in many bankruptcy cases, there are no good alternatives, only less bad ones. As financial realities in this case took hold, it became clear that, for most creditors, including the objectors, there were not even “less bad” alternatives. The Court is saddened that it can offer only an explanation for… Continue Reading
By Scott Riddle Posted in Small Business BankruptcyIf you own a small business you are most likely very concerned about making it through the next few months. Unfortunately, one of the inevitable consequences of the ongoing Covid-19 crisis is the increase in business closings – temporarily or permanently. We have already seen a long list of large, well-known businesses close permanently or… Continue Reading
By Scott Riddle Posted in Southern District CasesAfter a hearing on the approval of a disclosure statement, Judge Edward J. Coleman of the Middle District of Georgia ruled that the absolute priority rule and new value exception apply in individual Chapter 11 cases. In re Rogers, Ch. 11 Case No. 14-40219, 2016 WL 3583299 (Bankr. M.D. Ga June 24, 2016) (click here… Continue Reading
By Scott Riddle Posted in Middle District Cases,Small Business BankruptcyThe issue before the District Court in Putnall v. SunTrust Bank, No. 5:12-cv-481, 2013 U.S. Dist. LEXIS 44187 (M.D. Ga. March 28, 2013) was whether the lender’s security interest in rents (the “cash collateral”) was separate and apart from, and in addition to, its security interest in the rental property owned by the Debtor. The… Continue Reading
By Posted in Corporate & Fiduciary Litigation,Miscellaneous Cases,News and Comments,Small Business BankruptcyThe Seventh Circuit Court of Appeals has issued the first published Circuit Court opinion on the question of whether trademarks are assignable in a Bankruptcy case. The opinion, authored by Judge Posner, is in the case of In re XMH Corp., Nos. 10-2596, 10-2597, 10-2598, 10-2599, 2011 U.S. App. LEXIS 15372 (7th Cir. July 26, 2011) (click… Continue Reading
By Posted in Northern District CasesRecent cases filed in the Northern District over last two weeks — 08-40915-mgd Northstar Vinyl Products, LLC Filed: 03/28/2008 Entered: 03/28/2008 08-65697-jb Heritage Point Apartments Inc. Filed: 03/28/2008 Entered: 03/28/2008 08-10870-whd Larry H. Huffman Filed: 03/31/2008 Entered: 03/31/2008 08-40957-mgd Aldona Maria Urbantas-Stewart Filed: 03/31/2008 Entered: 03/31/2008 08-65876-mhm Mathis Partners, LLC Filed: 03/31/2008 Entered: 03/31/2008 08-66074-mhm GreenTree Estates, LLC Filed: 03/31/2008 Entered: 03/31/2008 08-66110-mhm Children’s Dental Care Center,… Continue Reading
By Posted in News and CommentsTriatek, Inc. filed a Chapter 11 petition in the Northern District of Georgia on June 18, 2007, Case No. 07-69507. Assets and liabilities are both listed as between $1 million and $100 million. Triatek lists "Triatek World Labs, Inc." Triatek International" and "Triatek Lighting, Inc." as other names used in the last eight years.… Continue Reading
