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Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.

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Hercules Offshore Files for Chapter 11 Bankruptcy Protection

Hercules Offshore Inc., one of the largest global providers of offshore contract drilling and liftboat services to the oil and gas industry, filed for Chapter 11 bankruptcy protection on August 13. The company stated in court documents that it will implement a $1.2 billion debt-for-equity exchange with its senior bondholders. Hercules Offshore Inc. falls into debt […]

Author: Joel R. Glucksman

September 16, 2015

Samson Resources to File for Bankruptcy Protection

Last week, Samson Resources Corp., one of the largest oil and gas companies in the country, announced plans to file for Chapter 11 bankruptcy protection. According to Oil and Gas Investor magazine, Samson Resources will reach a deal with lenders to restructure its $4.15 billion debt. Samson Resources falls into debt The company is one […]

Author: Joel R. Glucksman

September 11, 2015

Bunker Fuel Supplier Files for Chapter 11 Bankruptcy Protection

On Aug. 28, Bunkers International Corp., one of the largest suppliers of bunker fuel in the world, announced that it had filed for Chapter 11 bankruptcy protection. The bunker fuel supplier company was forced to seek bankruptcy protection after its primary lender terminated its lending agreement. Bunkers International loses primary lender, becomes insolvent The global bunker […]

Author: Joel R. Glucksman

September 9, 2015

Chapter 9 Bankruptcy Protection Is The Verdict For Hillview, Kentucky

On August 20, the town of Hillview, Kentucky announced that it had filed for Chapter 9 bankruptcy protection, according to the Louisville Courier-Journal. In court documents, the town noted that it had sought bankruptcy protection following an $11.4 million jury verdict, which was approximately four times the town’s budget. Hillview’s legal dispute lands them in […]

Author: Joel R. Glucksman

September 7, 2015

St. Michael's Medical Center Files Chapter 11

St. Michael’s Medical Center, one of the oldest hospitals in New Jersey, recently announced that it will file for Chapter 11 bankruptcy protection, according to NJ.com. The hospital hopes to sell its assets to Prime Healthcare Services for $49.2 million. Saint Michael’s becomes insolvent and seeks sale In bankruptcy documents, Saint Michael’s officials cited that […]

Author: Joel R. Glucksman

September 2, 2015

NJ Court Rules on Condominium Association Lien: What You Need to Know

In a recent decision by the United States Bankruptcy Court for the District of New Jersey, the Court ruled that condominium association liens are only limited to a six-month priority over a first mortgage. What this means for homeowners is that a condominium association lien can be stripped off the residence in a Chapter 13 […]

Author: Joel R. Glucksman

July 28, 2015

Scarinci Hollenbeck

Bankruptcy grants seniors path to greater financial freedom

Filing for bankruptcy is one way seniors can achieve greater financial freedom. By seeking this protection from creditors, they can secure financial freedom to negotiate and make whatever financial obligations they have less onerous.While many file for bankruptcy because they are suffering financial hardship, the method can be used to achieve other ends. Experts emphasize […]

Author: Joel R. Glucksman

June 23, 2015

Judge Gives CEOC More Time to Create Restructuring Plan

A federal judge recently granted a request made by Caesars Entertainment Operating Co. to continue its “exclusivity” period – that is, the time when only the debtor may file a proposed restructuring plan. At an April 29 hearing in Chicago, U.S. Bankruptcy Judge Benjamin Goldgar ruled in Caesar’s favor and extended exclusivity until May 27, Reuters reported. Extension […]

Author: Joel R. Glucksman

May 20, 2015

Fiscal Matters Coming To A Head For Puerto Rico

The New York Times’ Deal Book reports that Puerto Rico’s debt problems are reaching “a critical point.” According to the article, Puerto Rico cannot handle its existing debt load. Moreover, while American cities and municipal entities may use Chapter 9 of the Bankruptcy Code, American states and territories may not. Therefore, Puerto Rico has no […]

Author: Joel R. Glucksman

April 16, 2015

Scarinci Hollenbeck

Progress For Puerto Rico Utility

The Puerto Rico Electric Power Authority (“PREPA”) is at last making progress in attempting to resolve its finances. Bloomberg Business is reporting that, in negotiations between PREPA and its creditors, the creditors are proposing an interim plan that would diversify PREPA’s fuel sources and thereby stabilize its energy costs. In reaction, PREPA will formulate its […]

Author: Joel R. Glucksman

April 15, 2015

Scarinci Hollenbeck

Judge Denies Request To Sell Revel Casino For $82 million

U.S. Bankruptcy Judge Gloria Burns recently refused to grant a request to sell Revel Casino made by advisors for the Atlantic City-based Casino and Hotel to Florida developer Glenn Straub for $82 million. Instead, she said the parties involved need more time to see if they can get a better deal to sell Revel Casino. […]

Author: Joel R. Glucksman

March 9, 2015

Mt. Gox creditors ask judge to approve settlement

The U.S. creditors of the now-defunct Mt. Gox bitcoin exchange have asked a U.S. judge to approve a proposed settlement that would revive the company, according to Bloomberg. The settlement would still have to be approved by the Japanesebankruptcy court overseeing the company’s liquidation, but would return some money to depositors and resolve claims against […]

Author: Joel R. Glucksman

May 15, 2014

Mt. Gox

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