U.S. Watchdog Raises Concern over Caesars Creditor Deal

On January 15, 2015, Caesars Entertainment Operating Company (CEOC), a subsidiary of Caesars Entertainment, filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Northern District of Illinois in Chicago (Case No. 15-01145). On Wednesday, October 19, 2016, a “lawyer for the U.S. government’s bankruptcy watchdog raised concerns in court on Wednesday over… Continue reading U.S. Watchdog Raises Concern over Caesars Creditor Deal

Two-Year Delay in Confirmation Requires Holding Another Valuation Hearing (Rochelle’s Daily Wire)

Rochelle’s Daily Wire posted an interesting article about District Judge Robin L. Rosenberg’s opinion that “two-year delay in confirmation obliged the bankruptcy court as a matter of law to hold another hearing to value a secured creditor’s collateral.” Here is a snippet of the article: “A chapter 11 debtor filed a motion to value collateral under Section… Continue reading Two-Year Delay in Confirmation Requires Holding Another Valuation Hearing (Rochelle’s Daily Wire)

Nine Hospital Bankruptcies in 2016

Becker’s Hospital Review has pointed out that there have been nine hospitals across the country that have filed for bankruptcy so far this year. You can read their article if you click here. The following is a list of the 9 bankruptcies with links if you would like more information: Pushmataha Hospital in Antlers, Oklahoma filed for bankruptcy… Continue reading Nine Hospital Bankruptcies in 2016

Black-Eyed Pea Closes Texas Restaurants

Twelve Texas Black-Eyed Peas have been closed due to their parent company’s (Restaurants Acquisition I LLC) Chapter 11 bankruptcy filing. Their Arlington location is the only Texas location still open. “Restaurants Acquisition filed for Chapter 11 bankruptcy reorganization in December, citing revenue shortfalls and an inability to attract new capital. At the time, it owned 13 Black-eyed… Continue reading Black-Eyed Pea Closes Texas Restaurants

Mall Owners Go on Defensive to Rescue Aéropostale

“A move by a pair of mall owners to rescue distressed retailer Aéropostale Inc. shows how some landlords are getting more aggressive as they seek to stem a rising tide of vacancies and store closings. Simon Property Group and General Growth Properties Inc. were part of a consortium that last week won an auction to purchase… Continue reading Mall Owners Go on Defensive to Rescue Aéropostale

Zio’s Italian Kitchen Files for Bankruptcy

The owner of Zio’s Italian Kitchen filed for bankruptcy on Wednesday (August 7th). Zio’s is managed by FMP SA Management Group (an affiliate of Food Management Partners Inc.). Zio’s will be shutting down five of their locations and then evaluate the remaining ten locations for closure. They filed in San Antonio; the case number is 16-52041. You… Continue reading Zio’s Italian Kitchen Files for Bankruptcy

More on the Energy Future Bankruptcy

On Wednesday (August 17th), Energy Future Holdings Corporation “urged a U.S. bankruptcy court on Wednesday to allow the bulk of its operations to exit Chapter 11, in the largest U.S. bankruptcy since the financial crisis.” Their counsel stated that it was time to confirm a plan to emerge out of Chapter 11. You can read… Continue reading More on the Energy Future Bankruptcy