Dallas Bankruptcy News
Supreme Court allows consent to Bankruptcy Court jurisdiction under Stern | May 26, 2015
In a much-anticipated decision, the Supreme Court established the parameters of consent to jurisdiction under Stern v. Marshall in Wellness Int’l Network, Ltd. v. Sharif, No. 13-935 Decided May 26, 2015.
Syllabus
Respondent Richard Sharif tried to discharge a debt he owed petiti
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Delaware Court reviews standard for derivative claims
In a detailed May 4, 2015 opinion, the Delaware Chancery Court extensively reviewed the rights of an insolvent company’s creditors to pursue derivative claims against the company’s directors
In the opinion, Vice Chancellor Laster said that “to bring a derivative action, a creditor-
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Restructuring Community Pays Tribute to Harvey Miller
In a lunch that became an impromptu memorial service to Harvey Miller, former Lehman Brothers Judge James Peck might have said it best: “Harvey is to bankruptcy what Beyoncé is to pop music. He’s a single name that defines the field.” Mr. Peck’s remarks, part of a video tribute to the
Read MoreMay 22, 2015
Second Fort Worth Oil & Gas firm Duer Wagner III files for Chapter 11 | 5-15-15
Duer Wagner III Oil Company files for Chapter 11 Bankruptcy Protection Duer Wagner III Oil and Gas, LP and 11 affiliates filed for protection under Chapter 11 of the United States Bankruptcy Code on May 15, 2015 in the United States Bankruptcy Court for the Northern District of Texas,
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At least 10 hospitals have filed for bankruptcy in 2014
ospital bankruptcies are not rare, but many of them have ended with the hospital being sold or closed, online media reports show. At least 10 hospitals filed for bankruptcy in 2014, and at least three filed for bankruptcy this year before not-for-profit El Paso Children’s Hospi
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El Paso Children’s Hospital files for Chapter 11 Bankruptcy Protection | May 19, 2015
El Paso Children’s Hospital filed for protection under Chapter 11 of the United States Bankruptcy Code on May 19, 2015 In the United States Bankruptcy Court for the Western District of Texas, El Paso Division, under Case No. 15-30784-CM-11.
Mark Herbers
Mark Herbers is the Chief
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Bankruptcy Investment Opportunities
Contact us about more information on the following opportunities to invest in, purchase, or loan to distressed companies and their assets (including bankruptcy, ABCs, receiverships, and Article 9), and into other time sensitive situations. The deals listed here were added for the seve
Read MoreMay 20, 2015
Bankruptcy Court Denies Joint Administration | Erie Hockey Club
In a brief order expressing a surprising view of the commonplace entry of joint administration orders in chapter 11 bankruptcy cases, a Pennsylvania bankruptcy court judge rejected entry of such an order in a recent case. For those unfamiliar, Bankruptcy Rule 1015 provides that if tw
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Frac Specialists Cuts Debt but Still Has to Make Chapter 11 Filing
Despite reducing what it owes Capital One Bank NA by $15 million since January, oilfield services provider Frac Specialists LLC has filed for bankruptcy (Lead Case No. 15-41961-RFN-11) with plans to restructure its prepetition debt. The Midland, Texas, company and affiliates Acid Spec
Read MoreMay 19, 2015
USA – AK Steel joint venture files Chapter 11 bankruptcy
A mining company that is partly owned by West Chester-based AK Steel has filed for Chapter 11 bankruptcy protection. AK Steel (NYSE: AKS) holds 49.9 percent of Minnesota mining company MagnetationLLC, which made the filing after reaching a restructuring deal with senior bondhol
Read MoreMay 18, 2015
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Torchlight Energy reports $2.2M loss in Q1; creditors could force bankruptcy – Dallas Business Journal
Plano-based Torchlight Resources is seeking financing, loans or possible joint ventures after missing a mandatory debt payment. Source: Torchlight Energy reports $2.2M loss in Q1; creditors could force bankruptcy – Dallas Business Journal
Read MoreMay 17, 2015
Citibank Appeals Denial Of Standing In Natrol Ch. 11 – Law360
Citibank NA on Thursday challenged a Delaware bankruptcy judge’s ruling to deny the bank standing in Natrol Inc.’s Chapter 11 case to object to the vitamin maker’s bankruptcy plan and to investigate a $23 million settlement of fraud claims lodged by the debtor’s buyer against its inso
Read MoreMay 17, 2015
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