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Decision in Factory 2-U Bankruptcy Addresses Subject Matter Jurisdiction of Court

by admin | Tue, 08/24/2010 - 20:20

Earlier this month, I submitted a post looking at an Opinion in the Eclipse Aviation bankruptcy.  In the Eclipse Opinion, Judge Walrath discussed the subject matter jurisdiction of the Bankruptcy Court.  Specifically, the Court looked at whether certain claims brought by a plaintiff fell within the Court's "related to" jurisdiction.  My prior post regarding the Eclipse decision is

Caribbean Petroleum Files for Bankruptcy Following Explosion at Petroleum Tank Farm

by admin | Mon, 08/16/2010 - 21:02

Introduction
On August 12, 2010, Caribbean Petroleum Corporation filed petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  Caribbean Petroleum imports and distributes petroleum products in Puerto Rico through a network of 184 service stations.  This post will look at the events leading up to the company's filing for bankruptcy, as well as what the company hopes to accomplish while in bankruptcy.

Liquidating Trustee of Intermet Corporation Files Preference Actions in Delaware

by admin | Sun, 08/15/2010 - 19:52

Introduction
Earlier this month, the Liquidating Trustee in the Intermet bankruptcy filed preference actions against various defendants.  This post will look at the nature of Intermet's business, why the company filed for bankruptcy and the circumstances behind the formation of the Liquidating Trust that is pursuing the preference actions.

American Safety Razor Files for Bankruptcy, Citing Slow Growth and Increased Competition

by admin | Thu, 08/12/2010 - 18:49

Introduction
American Safety Razor Company ("ASR"),  one of the largest manufacturers of shaving razors and blades, filed for bankruptcy protection in Delaware on July 28, 2010.  According to the  Declaration of ASR's Chief Financial Officer, Andrew Bolt (the "Bolt Declaration"), the company's net sales for 2009 totaled $330 million, down from the $351 million in sales achieved in 2008.  See Bolt Declaration, pgh. 11.