Trustee in bankruptcy

The Limestone Boat Company Limited Provides Market Update with Respect to Chapter 7 Bankruptcy Filings by US- Subsidiaries

Retrieved on: 
Friday, March 10, 2023

No formal issues were raised by creditors of the Limestone US Subsidiaries and the Trustee has advised that the Chapter 7 Proceedings are expected to move forward in a timely and efficient manner.

Key Points: 
  • No formal issues were raised by creditors of the Limestone US Subsidiaries and the Trustee has advised that the Chapter 7 Proceedings are expected to move forward in a timely and efficient manner.
  • The Company expects than an asset sale with respect to the remaining assets owned by the Limestone US Subsidiaries is expected to take place in the coming weeks.
  • As a result of the Event of Default, all amounts outstanding under the Debenture Indenture became due and payable by Limestone.
  • In addition to the financial restructuring, the Company has also actively been working on the relocation of the Limestone Boat manufacturing operations to New Brunswick, Canada.

Great Panther Makes Voluntary Assignment into Bankruptcy Under the Bankruptcy and Insolvency Act (Canada)

Retrieved on: 
Friday, December 16, 2022

VANCOUVER, BC, Dec. 16, 2022 /PRNewswire/ -Great Panther Mining Limited (OTCPK: GPLDK) ("Great Panther" or the "Company") made a voluntary assignment into bankruptcy under the Bankruptcy and Insolvency Act (Canada) (the "BIA") following the Supreme Court of British Columbia granting an order terminating of its proceedings under Companies' Creditors Arrangement Act (Canada) (the "CCAA").

Key Points: 
  • VANCOUVER, BC, Dec. 16, 2022 /PRNewswire/ -Great Panther Mining Limited (OTCPK: GPLDK) ("Great Panther" or the "Company") made a voluntary assignment into bankruptcy under the Bankruptcy and Insolvency Act (Canada) (the "BIA") following the Supreme Court of British Columbia granting an order terminating of its proceedings under Companies' Creditors Arrangement Act (Canada) (the "CCAA").
  • Alvarez & Marsal Canada Inc. was appointed licensed insolvency trustee of Great Panther's estate (the "Trustee").
  • The bankruptcy of Great Panther does not affect Great Panther's subsidiaries, and the Trustee will now exercise the rights of Great Panther as shareholder.
  • Prior to its application to terminate the CCAA proceeding and the assignment into bankruptcy, Alan Hair, Joseph Gallucci, Trudy Curran, and John Jennings resigned from the Company's board of directors.

VersaBank Reports Continued Strong Results for First Quarter 2022

Retrieved on: 
Wednesday, March 2, 2022

"The first quarter of fiscal 2022 saw continued momentum in our core Digital Banking operations, highlighted by another record loan portfolio at quarter end of $2.22 billion and strong year-over-year growth in revenue, net income and earnings per share," said David Taylor, President and Chief Executive Officer.

Key Points: 
  • "The first quarter of fiscal 2022 saw continued momentum in our core Digital Banking operations, highlighted by another record loan portfolio at quarter end of $2.22 billion and strong year-over-year growth in revenue, net income and earnings per share," said David Taylor, President and Chief Executive Officer.
  • VersaBank's cost of funds for the first quarter of 2022 was 1.29%, down 2 bps sequentially and 13 bps year-over-year.
  • For the first quarter of 2022, cybersecurity net income of $148,000 was down 14% year-over-year and down 70% sequentially.
  • The quarter-over-quarter trend was a function primarily of strong performance in the comparative quarter attributable to engagements that were deferred in early 2021, due to COVID 19, being realized in the comparative quarter and lower seasonal activity in the current quarter.

Premium Domain Names for Sale as Part of Chapter 7 Bankruptcy Sale

Retrieved on: 
Tuesday, April 13, 2021

b'NEW YORK, April 13, 2021 /PRNewswire/ --Hilco Streambank, a market leading advisory firm specializing in the sale of intellectual property assets and domain name brokerage, is seeking one or more buyers for various domain names on behalf of a chapter 7 bankruptcy trustee.

Key Points: 
  • b'NEW YORK, April 13, 2021 /PRNewswire/ --Hilco Streambank, a market leading advisory firm specializing in the sale of intellectual property assets and domain name brokerage, is seeking one or more buyers for various domain names on behalf of a chapter 7 bankruptcy trustee.
  • The available domain names include AllOut.com, AllOut.net, MindControl.com, Words.org, Nature101.com and Psonic.com.\n"A chapter 7 bankruptcy case represents a unique opportunity to acquire premium domains," commented Hilco Streambank Senior Vice President Richelle Kalnit.
  • The domain names are being administered by Erin Renneker, as chapter 7 bankruptcy trustee in a case pending in the United States Bankruptcy Court for the Southern District of Ohio (the "Bankruptcy Court").\nOffers to acquire one or more of the available domain names are due on or before April 20, 2021.
  • Bidding documents are available upon request.\nParties interested in the domain names or learning more about the sale process should CLICK HERE or contact Hilco Streambank directly using the contact information provided below.\n'

City of Rockford $10 Billion Lawsuit Against Pharmaceutical Giant Mallinckrodt Threatened by Bankruptcy

Retrieved on: 
Wednesday, October 21, 2020

Rockfords lawsuit seeks to return more than $10 billion to other cities, counties, and health plans who are part of the Citys lawsuit.

Key Points: 
  • Rockfords lawsuit seeks to return more than $10 billion to other cities, counties, and health plans who are part of the Citys lawsuit.
  • Last week, Mallinckrodt filed for bankruptcy putting a stay on the current lawsuit in an attempt to avoid liability for its pricing scheme.
  • The City of Rockford is now encouraging the Bankruptcy Trustee to include a representative from the Citys class action lawsuit on the bankruptcy committee which will decide, among other things, how unsecured creditors are paid.
  • We think its imperative that the City of Rockford have a seat at the table during the bankruptcy proceedings, says Mayor Tom McNamara.

Bankruptcy Ordered Liquidation Garden Fresh (Sweet Tomatoes/Souplantation)

Retrieved on: 
Monday, June 15, 2020

PITTSFORD, N.Y., June 15, 2020 /PRNewswire/ --Garden Fresh Restaurants, LLC (Souplantation/Sweet Tomatoes) is liquidating all assets under their Chapter 7 Bankruptcy filing.

Key Points: 
  • PITTSFORD, N.Y., June 15, 2020 /PRNewswire/ --Garden Fresh Restaurants, LLC (Souplantation/Sweet Tomatoes) is liquidating all assets under their Chapter 7 Bankruptcy filing.
  • It is, to-date, the largest restaurant bankruptcy and liquidation as a result of the pandemic.
  • The Garden Fresh bankruptcy and resulting liquidation is an important story about the challenges facing the restaurant industry as a result of the pandemic.
  • Leslie Gladstone, Trustee of the Bankruptcy who also serves as an officer of the National Association of Bankruptcy Trustees, says of the liquidation, "It is our first and foremost mission with this liquidation to get some return for the creditors of this chain.

Physicians Realty Trust Provides Update on LifeCare Facilities

Retrieved on: 
Thursday, May 30, 2019

Physicians Realty Trust (NYSE:DOC), (the Company, the Trust, we, our and us), a self-managed healthcare real estate investment trust, is providing this update as to its financial exposure to LifeCare Holdings, LLC (LifeCare), which, along with several related entities, filed for Chapter 11 bankruptcy on May 6, 2019 in order to facilitate a sale process under bankruptcy protection.

Key Points: 
  • Physicians Realty Trust (NYSE:DOC), (the Company, the Trust, we, our and us), a self-managed healthcare real estate investment trust, is providing this update as to its financial exposure to LifeCare Holdings, LLC (LifeCare), which, along with several related entities, filed for Chapter 11 bankruptcy on May 6, 2019 in order to facilitate a sale process under bankruptcy protection.
  • The U.S. Bankruptcy Trustee appointed a representative of Physicians Realty Trust to the Official Committee of Unsecured Creditors in relation to the bankruptcy process.
  • LifeCare operates 17 properties across the United States, including three properties owned by the Company.
  • Physicians Realty Trust is a self-managed healthcare real estate company organized to acquire, selectively develop, own and manage healthcare properties that are leased to physicians, hospitals and healthcare delivery systems.

Suffolk County Law Firm, Markotsis & Lieberman Esq., Generally Explain Adversary Proceedings in Bankruptcy Cases

Retrieved on: 
Tuesday, May 7, 2019

Suffolk County law firm , Markotsis & Lieberman Esq., explain adversary proceedings in bankruptcy cases.

Key Points: 
  • Suffolk County law firm , Markotsis & Lieberman Esq., explain adversary proceedings in bankruptcy cases.
  • An adversary proceeding in bankruptcy is a separate lawsuit filed within an ongoing bankruptcy case.
  • Typically, an adversary proceeding is filed after a dispute arises concerning a debt that was included in the initial bankruptcy filing.
  • Adversary proceedings may be filed by either a creditor, bankruptcy trustee, or the debtor in a bankruptcy case, each with their own reasoning for doing so.

Discharge from bankruptcy

Retrieved on: 
Wednesday, May 1, 2019

Wednesday, May 1, 2019The purpose of this note is to provide an overview of the discharge from bankruptcy procedure. In the process, it also considers the effect of discharge; the circumstances which may cause automatic discharge to be postponed by the court; and when a Bankruptcy Restrictions Order may be imposed.

Key Points: 
  • In the process, it also considers the effect of discharge; the circumstances which may cause automatic discharge to be postponed by the court; and when a Bankruptcy Restrictions Order may be imposed.
  • Discharge from bankruptcy is a legal term used to describe the process that frees a person from the restrictions of bankruptcy and releases them from most of the debts they owed at the date of the bankruptcy order.
  • After discharge, the bankrupt is released from all bankruptcy debts and any property he acquires after his discharge is his; the official receiver (or trustee in bankruptcy) cannot lay claim to it.
  • In the process, it also considers the effect of discharge; the circumstances which may cause automatic discharge to be postponed by the court; and when a Bankruptcy Restrictions Order may be imposed.