Jackson Hewitt Tax Service Inc. (“Jackson Hewitt”) and 5 associated debtors (the “Debtors” ) filed voluntary petitions under Chapter 11 of the Bankruptcy Code on May 24, 2011 in the Bankruptcy Court for the District of Delaware (Case No. 11-11587). This initial note provides a brief background of the Debtors based upon information in the Declaration of Daniel P. O’Brien, the Debtor’s Chief Financial Officer, filed in support of the first day pleadings (the “O’Brien Declaration”) and provides the Debtors’ consolidated list of their 30 largest unsecured creditors.
Visteon Corporation Starts Bankruptcy Preference Adversary Proceedings
On May 20, 2011 , Visteon Corporation in the Visteon Corporation Bankruptcy, commenced Chapter 5 preferential transfer recovery litigation with the filing of Ongoing complaints in the District of Delaware.
National Sports Attraction, LLC Bankruptcy: Jil Mazer-Marino, Chapter 7 Trustee v. Heisman Trophy Trust – Defendant’s Motion to Dismiss
05/20/2011 – Defendant’s Motion to Dismiss filed in the National Sports Attraction, LLC Adversary Proceedings by Heisman Trophy Trust before Judge Drain in the Southern District of New York (Manhattan). On March 11, 2011, the Chapter 7 Trustee National Sports Attraction, LLC d/b/a Sports Museum of America d/b/a National Sports Museum and National Sports Museum Management, LLC (collectively, the “Debtor”) filed the Complaint seeking various forms of relief in connection with the Heisman Trust’s draw against a $750,000 letter of credit obtained by the Debtor and issued in favor of the Heisman Trust (the “LC”). The draw occurred on February 25, 2009 and approximatey 2 weeks later the Debtor’s filed Chapter 7.
Sunset Aviation, Inc. Bankruptcy: Alfred T. Giuliano v. Bay Jet LLC – Defendant’s Motion to Dismiss
05/19/2011 – Defendant’s Motion to Dismiss filed in the Sunset Aviation, Inc. Adversary Proceedings by Bay Jet LLC before Judge Walsh in the District of Delaware. With one exception, this is a motion very similar to that filed in 14 other proceedings seeking to dismiss the complaint under 12(b)(6). This defendant also adds a 12(f) motion to strike stating:
Ocean Ridge Capital Advisors LLC, as Creditor Trustee v. Landscape Forms, Inc. – Motion to Dismiss Based on “Single Transaction” Ordinary Course of Business Defense
05/17/2011 – Defendant’s Motion to Dismiss filed in the WCI Communities, Inc. Adversary Proceedings by Landscape Forms, Inc. before Judge Carey in the District of Delaware. A rare (with reason) motion to dismiss based on the ordinary course of business defense. Rarer still, a motion to dismiss on ordinary course of business grounds where the business relationship between the Debtor and the Defendant is only a single transaction. The chances of Judge Carey granting this motion to dismiss are slim but the briefing and ultimate decision are worthy of attention.
Merit Paint aka Lancaster Paint Bankrupty Trade Creditor Picture
The Merit Group, Inc (“Merit”) and 6 associated debtors (the “Debtors” ) filed voluntary petitions under Chapter 11 of the Bankruptcy Code on May 17, 2011 in the Bankruptcy Court for the District of South Carolina (Case No. 11-03216). This initial note provides a brief background of the Debtors based upon information in their first day motions and provides the Debtors’ consolidated list of their 30 largest unsecured creditors.
David P. Leibowitz, Chapter 7 Trustee Starts Kevin G. Carney Bankruptcy Adversary Proceedings
From May 13, 2011 through May 15, 2011, David P. Leibowitz, Chapter 7 Trustee in the Kevin G. Carney Bankruptcy, commenced Chapter 5 fraudulent transfer recovery litigation with the filing of 56 complaints in the Northern District Of Illinois (Eastern).
Vardan Ayrapetyan v. BNC Mortgage, Inc et al – Motion to Dismiss
05/13/2011 – Motion to Dismiss filed in the Adversary Proceedings by BNC Mortgage, Inc et al before Judge Kaufman in the Central District of California (San Fernando Valley). Lender moves to dismiss multiple claims made by the Debtor arising out of a real estate loan and foreclosure. A generally unremarkable motion except for the argument that “Plaintiff failed to identify any of his purported claims against Defendants in his sworn bankruptcy schedules and/or statements. Based upon the foregoing, Plaintiff is judicially estopped from pursuing all of the claims alleged in the Complaint. ”
Alfred T. Giuliano, Chapter 7 Trustee for the Bank v. Duquesne Aviation, Inc – Defendant’s Motion to Dismiss
05/12/2011 – Defendant’s Motion to Dismiss filed in the Sunset Aviation, Inc. Adversary Proceedings by Duquesne Aviation, Inc before Judge Peter J. Walsh in the District of Delaware. Essentially the same motion to dismiss was filed on behalf of two defendants, Duquesne Aviation, Inc and Egret Management, LLC.
Sunset Aviation Bankruptcy: Alfred T. Giuliano, Chapter 7 Trustee v. Shorenstein Company LLC – Defendant’s Motion to Dismiss
05/11/2011 – Defendant’s Motion to Dismiss filed in the Sunset Aviation, Inc. Adversary Proceedings by Shorenstein Company LLC before Judge Walsh in the District of Delaware. One more in an ever growing list of motions to dismiss based on the failure of the Substantive Consolidation Order to be issued nunc pro tunc Registered users, click this link to see the filing.*