Randall R.

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GSI Group, Inc. Files Bankruptcy in Delaware

Randall R. posted an article on - Nov 23, 2009, 12:17 am
Early Friday morning, GSI Group Inc. and two affiliates (the lead bankruptcy case is the case of GSI's affiliate MES International, Inc.) voluntarily filed for chapter 11 bankruptcy protection in ...
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Axiant, Mann Bracken-Affiliated Collections Company, Files Chapter 11

Randall R. posted an article on - Nov 23, 2009, 12:13 am
On Friday, Axiant, LLC (also known as MBSolutions, LLC) filed for chapter 11 protection in Delaware in order to conduct a competitive auction process to sell substantially all of its assets. To that e...
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Penn Traffic Files Chapter 11 for Third Time

Randall R. posted an article on - Nov 18, 2009, 8:30 pm
The Penn Traffic Company and eight affiliates voluntarily filed for chapter 11 bankruptcy protection on Tuesday for the third time in the last decade. The companies are one of the largest food retail...
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Foamex Asks Court to Dismiss Chapter 11 Cases

Randall R. posted an article on - Nov 18, 2009, 8:28 pm
Foamex International, Inc. and seven affiliates filed a motion on Wednesday asking the bankruptcy court to dismiss their chapter 11 cases for cause. Foamex voluntarily filed for chapter 11 protection...
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Magna Entertainment Key Employee Incentive Plan Approved

Randall R. posted an article on - Nov 18, 2009, 7:24 pm
Judge Mary Walrath of the U.S. Bankruptcy Court for the District of Delaware entered an order earlier today authorizing Magna Entertainment Corp. to implement its proposed key employee incentive plan ...
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Stallion Oilfield Services Claims Filing Deadline (Bar Date) Set

Randall R. posted an article on - Nov 17, 2009, 3:34 pm
Judge Brendan Shannon of the U.S. Bankruptcy Court for the District of Delaware entered an order on Monday setting January 15, 2010 at 5:00 p.m. (Eastern) as the general bar date (or deadline) for the...
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Wilkes Bashford Creditors' Committee Appointed

Randall R. posted an article on - Nov 17, 2009, 3:25 pm
The Office of the United States Trustee announced the appointment of an Official Committee of Unsecured Creditors in the chapter 11 bankruptcy case of The Wilkes Bashford Company. Wilkes Bashford, a h...
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Numerous Preference Actions Brought in Two Large Bankruptcy Cases

Randall R. posted an article on - Nov 17, 2009, 1:33 pm
Late last week and early this week, numerous adversary complaints were filed in two large bankruptcy cases seeking to recover alleged preferential transfers pursuant to section 547 of the Bankruptcy C...
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deCODE genetics, Inc. Files for Bankruptcy, Asset Sale Planned

Randall R. posted an article on - Nov 17, 2009, 3:29 am
Late Monday evening, deCODE genetics, Inc. filed for chapter 11 bankruptcy protection in Delaware. The company, headquartered in Reykavik, Iceland, was incorporated in 1996 to engage "in gene discover...
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Daimler's Zetsche: Auto Industry in Slow Recovery

Randall R. posted an article on - Nov 12, 2009, 4:24 pm
Daimler CEO Dieter Zetsche speaks with Dow Jones Newswires' Simon Constable and WSJ's Neal Boudette. He says a slow, but lasting auto recovery is under way.
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KCC's Jonathan Carson on Rise in Prepackaged Bankruptcies

Randall R. posted an article on - Nov 12, 2009, 12:24 pm
From theDeal.com: Kurtzman Carson Consultants, LLC co-founder and managing director Jonathan Carson provides his perspective on the growth in prenegotiated and prepackaged bankruptcy cases.
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Crucible Materials Reaches Settlement with the United Steelworkers

Randall R. posted an article on - Nov 11, 2009, 11:20 pm
Crucible Materials Corporation and Crucible Development Corporation sought bankruptcy court approval today of a memorandum of agreement with the United Steelworkers (USW). The proposed memorandum of a...
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Finlay Enterprises Announces Auction Results for Asset Sales

Randall R. posted an article on - Nov 11, 2009, 7:03 pm
On Tuesday, Finlay Enterprises, Inc. announced the winning bidders at an auction held for the sale of assets including furniture, fixtures, and equipment, information technology, intellectual property...
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Creditor Wants RadLAX Gateway Hotel Cases Moved to California

Randall R. posted an article on - Nov 11, 2009, 2:11 am
Earlier today, Bomel Construction Co., Inc. - a contractor to and creditor of the debtors - filed a motion requesting that the jointly-administered chapter 11 bankruptcy cases of RadLAX Gateway Hotel,...
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NutraCea Files Chapter 11 in Arizona

Randall R. posted an article on - Nov 11, 2009, 2:06 am
NutraCea, a "world leader in stabilized rice bran (SRB) nutrient research and technology," voluntarily filed for chapter 11 bankruptcy protection in Arizona on Tuesday. The company, headquartered in P...
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Las Vegas Casinos - On the Rebound?

Randall R. posted an article on - Nov 10, 2009, 1:16 pm
Casino companies have been hit particularly hard by the recession and there have been multiple bankruptcy filings by casino companies over the past year. While the Nevada casino bankruptcies, most no...
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Teton Energy Files for Bankruptcy With Plan Sponsor

Randall R. posted an article on - Nov 10, 2009, 2:48 am
On Sunday, Teton Energy Corporation and seven affiliates filed for chapter 11 protection in Delaware. Teton's common stock trades under the symbol 'TEC'. Teton was formed in 1996 and initi...
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Wilkes Bashford Files Chapter 11, Seeks Asset Sale

Randall R. posted an article on - Nov 10, 2009, 2:44 am
The Wilkes Bashford Company, a high-end department store chain, filed for chapter 11 protection on Monday in order to effectuate a sale of substantially all of the company's assets to Ed Mitchell ...
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Capmark Financial to Sell Japanese Servicing Business

Randall R. posted an article on - Nov 8, 2009, 2:37 pm
Capmark Financial Group Inc. sought court authority on Thursday to sell all of its equity in Premier Asset Management Company to Sandringham Investment Inc. Premier Asset Management, a wholly-owned su...
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Erickson Retirement Communities Creditors' Committee Appointed

Randall R. posted an article on - Nov 8, 2009, 11:34 am
On Wednesday, the U.S. Trustee filed a notice with the bankruptcy court identifying the members of the Official Committee of Unsecured Creditors for Erickson Retirement Communities, LLC and its affili...
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Creditors' Committee for Catholic Diocese of Wilmington Appointed

Randall R. posted an article on - Nov 8, 2009, 9:30 am
The United States Trustee for Region Three announced the appointment of the Official Committee of Unsecured Creditors in the Catholic Diocese of Wilmington, Inc. bankruptcy case on Thursday. The dioce...
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Accuride Seeks Approval of Settlement of NLRB Charges with UAW

Randall R. posted an article on - Nov 3, 2009, 9:38 pm
Earlier today, Accuride Corporation sought bankruptcy court approval of a settlement agreement between its affiliate, Gunite Corporation (also a debtor in the bankruptcy cases), and International Unio...
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Capmark Financial Creditors' Committee Appointed

Randall R. posted an article on - Nov 3, 2009, 9:06 pm
The United States Trustee filed a notice announcing the appointment of an Official Committee of Unsecured Creditors for Capmark Financial Group Inc. and its affiliates yesterday. Capmark filed for ban...
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600-1,000 More Bank Failures?

Randall R. posted an article on - Nov 3, 2009, 9:23 am
Cypress Group Partner J. Patrick Cave on lawmakers' effort to curb bank failures. Watch the latest business video at FOXBusiness.com
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Magna Entertainment Seeks Incentive Plan for Key Employees

Randall R. posted an article on - Nov 2, 2009, 9:13 pm
On Friday, Magna Entertainment Corp. requested court authority to implement a key employee incentive plan. Magna and certain affiliates filed for bankruptcy protection in Delaware on March 5, 2009. Th...
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Motors Liquidation Co. (f/k/a General Motors Corp.) Reports Financial Results

Randall R. posted an article on - Nov 2, 2009, 9:11 pm
On Sunday, Motors Liquidation Company (formerly known as General Motors Corporation) filed a monthly operating report with the bankruptcy court in New York. The report covers the period from July 10, ...
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WSJ: Will CIT Group Emerge From Bankruptcy?

Randall R. posted an article on - Nov 2, 2009, 3:55 pm
WSJ's Mike Spector tells Dennis Berman while it's rare for financial firms to come out of Chapter 11, CIT might be the exception to the rule.
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CIT Group Files for Chapter 11 Protection

Randall R. posted an article on - Nov 1, 2009, 3:08 pm
Image by Getty Images via Daylife On Sunday afternoon, CIT Group Inc. filed a voluntary chapter 11 petition in the United States Bankruptcy Court for the Southern District of New York. The company'...
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Two Recticel Affiliates File for Chapter 11 to Reject Customer Contracts

Randall R. posted an article on - Nov 1, 2009, 9:12 am
On Thursday, Recticel North America, Inc. and Recticel Interiors North America, LLC, both wholly-owned indirect subsidiaries of Recticel N.V./S.A. (a global manufacturer of a wide range of foams and s...
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Details of Lyondell Chemical's September Monthly Operating Report

Randall R. posted an article on - Nov 1, 2009, 7:08 am
On Friday, Lyondell Chemical Company and 93 affiliates filed their consolidated monthly operating report for the month of September. The monthly operating report contains (1) a combined statement of i...
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NPR Planet Money: Can GM Ever Pay Us Back?

Randall R. posted an article on - Oct 31, 2009, 2:02 pm
Since the start of the financial crisis, the U.S. government has put $50 billion into General Motors. After GM emerged from bankruptcy this year, the public owned 61 percent of the stock of the newly ...
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Bernie Madoff's Jailhouse Interview

Randall R. posted an article on - Oct 31, 2009, 3:34 am
CNBC's Scott Cohn has the full story on Bernie Madoff's interview. Airtime: Fri. Oct. 30 2009 | 4:19 PM ET
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Icahn on CIT Deal

Randall R. posted an article on - Oct 31, 2009, 3:34 am
From Fox Business: Billionaire investor Carl Icahn on why the bondholders will take control of the small-business lender. Watch the latest business video at FOXBusiness.com
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Analysis of Growth in Commercial Real Estate Failures

Randall R. posted an article on - Oct 31, 2009, 3:33 am
From Fox Business: Real estate attorney Stephen Meister on the growing problems facing commercial real-estate. Watch the latest business video at FOXBusiness.com
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Centaur Gaming Affiliate Valley View Downs Files Chapter 11

Randall R. posted an article on - Oct 30, 2009, 2:37 am
Image via Wikipedia Centaur PA Land, LP and Valley View Downs, LP, affiliates of Indianapolis-based Centaur Gaming (Centaur LLC), filed voluntary chapter 11 petitions in Wilmington, Delaware on Wednes...
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NPPI (Norwood Promotional Products) Seeks Chapter 7 Conversion

Randall R. posted an article on - Oct 28, 2009, 11:13 pm
Earlier today, NPPI Holdings, Inc. (formerly known as Norwood Promotional Products Holdings, Inc.) filed a motion with the Delaware bankruptcy court requesting the conversion of the chapter 11 bankrup...
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Express Energy Services Operating, LP Files Pre-Negotiated Bankruptcy

Randall R. posted an article on - Oct 28, 2009, 9:32 pm
Express Energy Services Operating, LP and a group of affiliated entities voluntarily filed for chapter 11 protection on October 27th in the United States Bankruptcy Court for the Southern District of ...
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Why The Home Sales Decline Wasn't Significant

Randall R. posted an article on - Oct 28, 2009, 9:29 pm
From The Business Insider's Chart of the Day: The reported 3.6% drop in new home sales was not statistically significant because the margin of error was plus or minus 10.6%. In fact, when the new...
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Business Insider: Has the Enron Task Force Been Successful?

Randall R. posted an article on - Oct 26, 2009, 3:04 pm
Joe Weisenthal of the Business Insider recently evaluated some of the results of the Enron Task Force's work and argues that the Task Force has largely been unsuccessful. His article is embedded ...
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Capmark Financial Files Chapter 11; Asset Sales Likely

Randall R. posted an article on - Oct 26, 2009, 2:38 pm
On Sunday, Capmark Financial Group Inc. (formerly GMAC Commercial Holding Corp.) and a host of affiliates filed voluntary chapter 11 bankruptcy petitions in Delaware. The cases have been assigned to J...
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Old Carco/Chrysler Seeks to Sell Newark, Delaware Plant

Randall R. posted an article on - Oct 25, 2009, 2:04 pm
Old Carco LLC (formerly known as Chrysler LLC) sought court authority on Friday to sell its Newark, Delaware assembly plant (two parcels totaling 271 acres) to the University of Delaware (or an acquis...
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Fontainebleau Las Vegas Examiner Order Appealed

Randall R. posted an article on - Oct 25, 2009, 2:01 pm
A group of holders of mechanics' and materialmens' liens against the Fontainebleau Las Vegas project filed a notice of appeal on Friday announcing its intent to appeal Judge A. Jay Cristol'...
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Tricom, S.A. Prepackaged Reorganization Plan Confirmed

Randall R. posted an article on - Oct 22, 2009, 4:37 pm
Image by Joan Guerrero via Flickr Judge Stuart M. Bernstein of the United States Bankruptcy Court for the Southern District of New York entered an order yesterday confirming the First Modified Second ...
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Details of Cynergy Data's September Monthly Operating Report

Randall R. posted an article on - Oct 21, 2009, 9:20 pm
Cynergy Data, LLC, provide payment processing and related merchant services for 80,000 merchants and 118,000 points of sale, filed its monthly operating report for the month of September with the Dela...
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Deadline for Finlay Enterprises Claims Set

Randall R. posted an article on - Oct 21, 2009, 8:48 pm
Judge James M. Peck of the U.S. Bankruptcy Court for the Southern District of New York entered an order on Tuesday setting December 1, 2009 at 5:00 p.m. (Eastern) as the general bar date (or deadline)...
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Google Asks Court to Vacate Eddie Bauer Sale Order

Randall R. posted an article on - Oct 21, 2009, 8:04 pm
... bankruptcy asset sales, prior to approving the sale of Eddie Bauer's assets, the bankruptcy court ... the contract to be assumed which would be paid as a cure obligation by Eddie Bauer or t...
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Erickson Retirement Communities Files for Chapter 11

Randall R. posted an article on - Oct 20, 2009, 7:11 pm
On Monday, Erickson Retirement Communities, LLC and approximately 15 affiliates voluntarily filed for chapter 11 bankruptcy protection in Dallas. The companies are "part of a fully-integrated, private...
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Questex Media Group Creditors' Committee Appointed

Randall R. posted an article on - Oct 20, 2009, 5:51 pm
The United States Trustee for Region 3 filed a notice with the bankruptcy court yesterday listing the members of the Official Committee of Unsecured Creditors appointed in the chapter 11 bankruptcy ca...
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Concerto Condo Complex (GTS 900 F) Creditors' Committee Appointed

Randall R. posted an article on - Oct 20, 2009, 5:22 pm
Image by Te55 via Flickr On Friday, the United States Trustee filed a notice identifying the members of the Official Committee of Unsecured Creditors appointed in the bankruptcy case of GTS 900 F LLC....
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