Bankruptcy and Creditors' Rights

Fresh & Easy files for Chapter 11 bankruptcy protection On Oct. 30, Fresh & Easy, the U.S.-based grocery chain launched by UK supermarket giant Tesco PLC in 2007, announced that it had filed for Chapter 11 bankruptcy protection. According to a Reuters report, Fresh & Easy plans on winding down operations for all of its […]

Energy & Exploration Parters file Chapter 11 Recently, major Texas oil drilling company Energy & Exploration Partners announced that it had filed for Chapter 11 bankruptcy protection. According to the Fort Worth Star-Telegram, the company decided to seek Chapter 11 bankruptcy protection after its three major creditors initiated Chapter 7 involuntary bankruptcy proceedings against it on […]

Karmaloop Inc. files Chapter 7 Karmaloop Inc., the major web-based streetwear retailer headquartered in Boston, recently announced that it had received approval from the Bankruptcy Court to convert its Chapter 11 bankruptcy case to a Chapter 7 liquidation proceeding. According to a Law 360 report, the company will now face the liquidation of all its remaining […]

Taylor-Wharton files Chapter 11 Taylor-Wharton International LLC, a major designer and manufacturer of cryogenic equipment, announced that it had filed for Chapter 11 bankruptcy protection. According to a Law 360 report, the company plans to hold an asset auction sale with Haier Medical and Laboratory Products USA Inc. serving as the stalking horse bidders for […]

Cardiac Science Corp. Files Chapter 11 On Oct. 20, Cardiac Science Corp., a major medical device firm known for developing and manufacturing automated external defibrillators, announced that it had filed for Chapter 11 bankruptcy protection. According to the Milwaukee Business Journal, the company sought bankruptcy protection after falling into insolvency with more than $87 million […]

Millennium Health prepares for bankruptcy On Oct. 19, Millennium Health LLC, the largest U.S. drug-testing lab, announced that it had prepared to file for Chapter 11 bankruptcy protection by Nov. 10. According to a Bloomberg report, Millennium Health’s decision to seek bankruptcy protection came after it reached an agreement to pay a $256 million settlement […]

On Thursday, Oct. 8, New York Wire Co., the oldest wire weaving company in the U.S., announced that it had filed for Chapter 11 bankruptcy protection. According to a Central Penn Business Journal report, the company cited problems with its start-up operations in China and a global economic downturn as key factors for seeking bankruptcy […]

City Sports files Chapter 11 On Oct. 5, City Sports, a Boston-based athletic gear retailer, announced that it had filed for Chapter 11 bankruptcy protection. According to the Wall Street Journal, City Sports plans to liquidate eight of its 26 remaining store locations. City Sports falls into debt The 32-year old company has recently fallen […]

Choppy waters for Star Group Communications Star Group Communications, the largest female-owned marketing agency in the U.S., announced recently that its creditors are seeking to force the company into Chapter 7 bankruptcy protection. According to the Philadelphia Business Journal, the New Jersey-based company had closed down after 30 years of operation. Star Group’s creditors pushed […]

On Oct. 2, Miller Energy Resources Inc., one of the major oil and gas producers in the U.S., announced that it filed for Chapter 11 bankruptcy protection. According to the Wall Street Journal, Miller Energy plans to hand over control of operations to Apollo Investment Corp. and Highbridge Capital Management LLC. Miller Energy falls victim […]

On Sept. 30, Interphase Corporation, a major information and communications technology company, announced that it had voluntarily filed for Chapter 7 bankruptcy protection. On Sept. 30, Interphase Corporation, a major information and communications technology company, announced that it had voluntarily filed for Chapter 7 bankruptcy protection. According to a Street Insider report, the company has […]

Involuntary Bankruptcy In a new ruling, In re Forever Green Athletic Fields, Inc.,__F.3rd __(3d. Cir. Oct. 16, 2015), the Third Circuit has joined several other courts in holding that an involuntary bankruptcy petition may be dismissed as a bad faith filing, even if the involuntary petitioners have satisfied all of the explicit requirements under §303 […]