Chapter 7, Title 11, United States Code

Yellow Corporation Reports Second Quarter 2023 Results

Retrieved on: 
Wednesday, August 9, 2023
Bankruptcy Code, United States bankruptcy court, Chapter 7, Title 11, United States Code, Bankruptcy, Chapter 11, Title 11, United States Code, Yellow Corporation, Airline

NASHVILLE, Tenn., Aug. 09, 2023 (GLOBE NEWSWIRE) -- Yellow Corporation (NASDAQ: YELL) reported results for the second quarter ended June 30, 2023.

Key Points: 
  • NASHVILLE, Tenn., Aug. 09, 2023 (GLOBE NEWSWIRE) -- Yellow Corporation (NASDAQ: YELL) reported results for the second quarter ended June 30, 2023.
  • Operating revenue was $1.127 billion and operating income was $38.9 million which included a $75.9 million gain on property disposals.
  • In comparison, operating revenue in the second quarter of 2022 was $1.424 billion and operating income was $99.2 million which included a $3.2 million net gain on property disposals.
  • Net loss for second quarter 2023 was $14.7 million, or $0.28 per share, compared to net income of $60.0 million, or $1.17 per share in the second quarter 2022.

Bitwise Industries Announces Chapter 7 Bankruptcy Filing

Retrieved on: 
Thursday, June 29, 2023
Chapter 7, Title 11, United States Code, Chapter Seven, United States bankruptcy court, Bankruptcy, Security (finance)

FRESNO, Calif., June 29, 2023 /PRNewswire/ -- BW Industries, Inc today announced the Company and its subsidiaries, Bitwise Industries, BWRD, LLC, Alpha Works, and Bruce's Bagels, have filed a voluntary petition for relief under Chapter 7 of the U.S. Bankruptcy Code.

Key Points: 
  • FRESNO, Calif., June 29, 2023 /PRNewswire/ -- BW Industries, Inc today announced the Company and its subsidiaries, Bitwise Industries, BWRD, LLC, Alpha Works, and Bruce's Bagels, have filed a voluntary petition for relief under Chapter 7 of the U.S. Bankruptcy Code.
  • The filing with the U.S. Bankruptcy Court for Delaware will result in federal appointment of a bankruptcy trustee to liquidate the Company's assets and distribute any proceeds.
  • The filing follows an investigation conducted by the Board of Directors, which concluded it is in the best interest of the Company and its investors, creditors, former employees, and other interested parties to file for Chapter 7 relief.
  • For questions related to Bitwise Industries, please contact [email protected] .

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

Retrieved on: 
Friday, March 10, 2023
Trustee, Runabout, Bankruptcy, Chapter 11, Title 11, United States Code, Great Lakes, Bankruptcy Code, Event of default, Atlantic Canada, PLLC, Companies' Creditors Arrangement Act, EV, Chapter 7, Title 11, United States Code, Trustee in bankruptcy, Nashville Division, United States bankruptcy court, Sale, Security (finance), Limestone

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.

LexaGene Files for Chapter 7 Bankruptcy

Retrieved on: 
Friday, February 24, 2023
Bankruptcy, LXG, United States bankruptcy court, Chapter 7, Title 11, United States Code, TSX Venture Exchange, File, OTCQB, Security (finance)

BEVERLY, Mass., Feb. 24, 2023 (GLOBE NEWSWIRE) -- LexaGene Holdings, Inc., (OTCQB: LXXGF; TSX-V: LXG) (“LexaGene” or the “Company”), announces that it has ceased operations, laid off its staff, and, together with its direct subsidiary LexaGene, Inc., and its indirect subsidiary Bionomics Diagnostics, Inc., filed a voluntary petition for relief under Chapter 7 of the U.S. Bankruptcy Code.

Key Points: 
  • BEVERLY, Mass., Feb. 24, 2023 (GLOBE NEWSWIRE) -- LexaGene Holdings, Inc., (OTCQB: LXXGF; TSX-V: LXG) (“LexaGene” or the “Company”), announces that it has ceased operations, laid off its staff, and, together with its direct subsidiary LexaGene, Inc., and its indirect subsidiary Bionomics Diagnostics, Inc., filed a voluntary petition for relief under Chapter 7 of the U.S. Bankruptcy Code.
  • The filing, which took place earlier today at the U.S. Bankruptcy Court for the District of Massachusetts, located in Boston, Massachusetts, will result in federal appointment of a bankruptcy trustee to liquidate the Company’s assets and distribute any proceeds.
  • Dr. Jack Regan, LexaGene’s CEO and founder, stated, “Despite our best efforts, we were unable to secure the necessary funding to continue our operations.
  • Accordingly, the board of directors has exercised its business judgment to commence liquidation proceedings for the Company.

What Can Happen to Your House and Car in a Bankruptcy?

Retrieved on: 
Thursday, December 15, 2022
Multimedia, Chapter 13, Title 11, United States Code, Bankruptcy, Chapter Seven, Chapter 7, Title 11, United States Code, Security (finance), Credit

COLUMBUS, Ohio, Dec. 15, 2022 /PRNewswire/ -- Bankruptcy can be a good option for those who are struggling financially and in need of debt relief. What happens to your house and car in bankruptcy will depend on your particular circumstances and whether you choose to file for Chapter 7 or Chapter 13 bankruptcy.

Key Points: 
  • What happens to your house and car in bankruptcy will depend on your particular circumstances and whether you choose to file for Chapter 7 or Chapter 13 bankruptcy.
  • Bankruptcy attorney Courtney Cousino explains, "Bankruptcy laws are complicated, and choosing the right path depends on an individual's unique circumstances.
  • Your car's value and the amount of equity you have in it will impact which type of bankruptcy you decide to proceed under.
  • You might be able to keep the car if you bring the loan payments current or sign a "reaffirmation" agreement.

State of Bankruptcy at the Current Stage in the Pandemic

Retrieved on: 
Tuesday, November 22, 2022
Person, Congress, Multimedia, Government, World War II, Chapter 13, Title 11, United States Code, Administration, Bankruptcy, Bunch, Chapter 7, Title 11, United States Code, CARES Act, Renewable energy

LEXINGTON, Ky., Nov. 22, 2022 /PRNewswire/ -- Experience from previous economic crises before the pandemic has shown that there should be a sharp increase in bankruptcy filings. A significant case in point is the great recession from 2007-2009, which recorded the most prolonged economic downturn since World War II. Bankruptcy filings rose to 60,837 in 2009, from 28,322 in 2007.

Key Points: 
  • The same trend, with more extensive variations, was expected during the 2020 pandemic, with the government shutting down nearly the entire economy.
  • But, to the surprise of most bankruptcy scholars and bankruptcy organizations, the trend has been different, with the number of filings going in the opposite direction.
  • Lexington bankruptcy attorneys at Bunch & Brock, Thomas and Matthew Bunch, talk about how several factors from the pandemic have affected bankruptcy in America.
  • "Contrary to what experts expected, the number of businesses and non-businesses that file for bankruptcy has continued to drop since the pandemic," Thomas Bunch continues.

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

Retrieved on: 
Tuesday, April 13, 2021
United States bankruptcy law, Hilco Global, Finance, Money, Economy, Title 11 of the United States Code, Trustee in bankruptcy, Domain name, United States bankruptcy court, Bankruptcy, Chapter 7, Title 11, United States Code

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'

Consumer Bankruptcy Law Project Launched Utah Non-Profit Bankruptcy Services Provider for Financially Disadvantaged

Retrieved on: 
Wednesday, June 17, 2020
Debt, Finance, Money, Economy, Bankruptcy, Chapter 7, Title 11, United States Code, Debt relief

As a result, countless Americans are facing the likelihood of bankruptcy.

Key Points: 
  • As a result, countless Americans are facing the likelihood of bankruptcy.
  • Consumer Bankruptcy Law Project (CBLP) consumerbankruptcylaw.org , located in Salt Lake City, Utah, has been launched as a 501(c)(3) non-profit community legal services organization to help individuals file for debt relief under the United States Bankruptcy Code.
  • The firm's lead attorney, Lesta Simmons, says, "Our firm offers two forms of consumer debt relief: (1) Chapter 7 bankruptcy, which is often called a liquidation bankruptcy.
  • Consumer Bankruptcy Law Project is committed to fighting for consumer financial justice by battling the rising tide of creditors who prey upon vulnerable consumers.

Bankruptcy Ordered Liquidation Garden Fresh (Sweet Tomatoes/Souplantation)

Retrieved on: 
Monday, June 15, 2020
Business law, Insolvency, United States bankruptcy law, Corporate law, Title 11 of the United States Code, Souplantation, Bankruptcy in the United States, Bankruptcy, Trustee in bankruptcy, Liquidation, Chapter 7, Title 11, United States Code

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.

Long Island Bankruptcy Lawyer Richard Feinsilver announces opening of Virtual Law Office during Coronavirus lockdown

Retrieved on: 
Thursday, March 26, 2020
Title 11 of the United States Code, Bankruptcy, Chapter 11, Title 11, United States Code, Chapter 13, Title 11, United States Code, Chapter 7, Title 11, United States Code, Finance

CARLE PLACE, N.Y., March 26, 2020 /PRNewswire-PRWeb/ -- Richard S. Feinsilver, Esq., a Long Island Bankruptcy Lawyer serving Long Islanders since 1988, is pleased to announce that while the Covid-19 state of emergency restrictions are in place, he will continue operations as a virtual law office during normal business hours as of Monday March 23, 2020.

Key Points: 
  • CARLE PLACE, N.Y., March 26, 2020 /PRNewswire-PRWeb/ -- Richard S. Feinsilver, Esq., a Long Island Bankruptcy Lawyer serving Long Islanders since 1988, is pleased to announce that while the Covid-19 state of emergency restrictions are in place, he will continue operations as a virtual law office during normal business hours as of Monday March 23, 2020.
  • "Unfortunately, even during a lockdown, bad things will continue to happen to good people.
  • The bankruptcy laws have been designed to help good hard working Long Island residents straighten out life's curves and get a fresh start."
  • Whether it's a Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, or Chapter 11 Bankruptcy, you'll receive patient, positive and comprehensive advice an attorney who really understands what you're going through.