In In re AMRCO, Inc., Case No. 13-11086 (Bankr. W.D. Tex. July 26, 2013), the Bankruptcy Court for the Western District of Texas recently invalidated a pre-bankruptcy foreclosure sale that concluded minutes before a chapter 11 petition was filed, based on the Deed of Trust‘s Trustee’s failure to strictly comply with the foreclosure requirements under the […]
Read MoreFollowing the saga of asbestos-related bankruptcy cases, the Third Circuit Court of Appeals recently held that Garlock Sealing Technologies, LLC lacked standing to object to the confirmation of the chapter 11 plan of W.R. Grace & Co., because Garlock could not demonstrate it had an existing or imminent claim against Grace. See In re W.R. Grace & Co., No. […]
Read MoreOn Monday, May 6, 2013, Oreck Corporation, a 50 year-old manufacturer of high-quality vacuum cleaners, filed chapter 11 bankruptcy in the Middle District of Tennessee. In its voluntary petition, Oreck disclosed assets between $10 and $50 million and liabilities in the same range (although at closer examination, it appears the debt is between $10 and $20 […]
Read MoreA Delaware Bankruptcy Court recently ruled that a debtor cannot assume only certain portions of a real property lease covering several, separate properties; instead the debtor must assume the entire lease (cum onere) or reject the entire lease. See In re Contract Research, Inc., 12-11004 (Bankr. D. Del. May 1, 2013) (KJC). This case is a good example […]
Read MoreThe Fifth Circuit Court of Appeals recently remanded a dismissed adversary proceeding where a former employee of a corporate debtor attempted to assert a class action on behalf of himself and 129 other employees for alleged violations of the Worker Adjustment and Retraining Notification Act, 29 U.S.C. §§ 2101-2109. See Teta v. Chow (In re TWL Corporation), […]
Read MoreOn February 15, 2013, KRLD discussed the unique merger between American Airlines and US Airways, during American’s pending bankruptcy. To hear a clip of the discussion, please click on the following link: long @ american & usairways (mcarr)1 Related articles What an American-US Airways merger means for you (kansascity.com) AP Sources: American Airlines, US Airways to […]
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