Tag: Chapter

Slow Start to Chapter 11 Subchapter V Bankruptcy Filings

Since the inception of the new Subchapter V program, only a small number of commercial filers have used the statute

Sub V and Chapter 11 Filing Data from AACER Epiq

Data range is February – September 2020
Data range is February – September 2020
Data range is February – September 2020

NEW YORK, Oct. 07, 2020 (GLOBE NEWSWIRE) — Epiq, a global leader in legal services, released the first look at the results of the new Chapter 11, Subchapter V, U.S. Bankruptcy Court filings with a total of 923 new petitions year to date since the program commenced on February 19, 2020. Since then, while the market has been slow to embrace this new filing option, there has been a small but steady increase in month over month filings May to September.

The new statute was made possible by the bipartisan legislation known as the Small Business Reorganization Act of 2019 (SBRA) and was designed to make

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Judge Approves Sale Of Iconic Rubie’s Costume Company, Allowing 70-Year Old Business To Start Its Next Chapter

Press release content from PR Newswire. The AP news staff was not involved in its creation.

WESTBURY, N.Y., Oct. 2, 2020 /PRNewswire/ — A U.S. Bankruptcy Court judge approved the sale of a majority of the assets of the Rubie’s Costume Company, Inc., the largest costume designer, manufacturer, and distributor in the United States, and several related entities (“Rubie’s”) to an investment group.

The sale allows the 70-year old company to utilize its best in-class supply chain and its over 1 million square feet of North American manufacturing and distribution space in order to service its many thousands of accounts. As the only truly full-service Halloween manufacturer and distributor in the world, the new management will look to leverage its world-class innovation and creative capabilities and utilize omni-channel retailing capabilities to continue Rubie’s best in class performance. Rubie’s capacity to distribute thousands of wholesale and over

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Understanding Chapter 13 Bankruptcy For Independent Business Owners In Need

NYC bankruptcy attorney at the Law Office of William Waldner whose sole focus is in the areas of chapter 7 and chapter 13 bankruptcy cases.

Not all bankruptcies are created equal. There are times when it’s unquestionably time to let go of opportunities that didn’t pan out, in which case a liquidation bankruptcy — generally governed by Chapter 7 of the U.S. Bankruptcy Code — might be the best way to wind up your small business. The business’s assets are sold off, the business’s debts are paid as best as the proceeds allow, and though the debt isn’t technically discharged, there’s nothing left to collect.

The business is gone, but you get to walk away clean (unless you’ve personally guaranteed any of your business debt, but that’s an article for another time).

A Chapter 13 bankruptcy, on the other hand, doesn’t require you to sell anything. Instead, a Chapter

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$1.7M Adkerson Foundation gift creates online MSU master’s accounting programs, minority fellowships; endows NABA chapter

Contact: Amy Cagle

Portrait of Richard Adkerson
Richard C. Adkerson (Photo submitted)

STARKVILLE, Miss.—The Richard C. Adkerson Family Foundation addresses two significant issues facing the southeastern United States with a gift to its namesake’s alma mater, Mississippi State University.

The more than $1.7 million gift will strengthen accounting education through accessibility by establishing two online graduate-level degree programs for the Richard C. Adkerson School of Accountancy and bring fellowships to African Americans who enroll full time in the programs. Additionally, the gift endows a student chapter of the National Association of Black Accountants (NABA) for underrepresented undergraduate students to engage with professionals in their soon-to-be career fields of accounting, finance and related business professions.

An online Master of Professional Accountancy program and an online Master of Taxation program will now be part of the land-grant institution’s curriculum for the Adkerson School of Accountancy. Adkerson is the longtime CEO of Freeport-McMoRan Inc. (FCX), the foremost

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DigitalTown, Inc. to Use Voluntary Chapter 11 Process to Position Business for Long-Term Success

NEW WESTMINSTER, BC, Sept. 21, 2020 (GLOBE NEWSWIRE) — DigitalTown, Inc. (OTC: DGTW) (the “Company”) announces that the Company has filed for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Minnesota, St. Paul Division, paving the way for business continuity, profitability and sustained growth in shareholder value.

Following the announcement of a new management team in May 2019, DigitalTown began making substantial progress on their commitment of cleaning up the Company’s balance sheet and exploring opportunities that would bring value to the Company’s shareholders. DigitalTown was successful in converting over $2 million of debt into stock and structuring a go-forward plan with appropriate financing measures. The plan’s execution was conditional on negotiating a satisfactory resolution with its former CEO who had an active, previously disclosed lawsuit against the Company at that time. DigitalTown’s various negotiation efforts were unsuccessful, leading

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China’s First “Space Noodles” Debuts in Shanghai Master Kong Joins Hands with CSF to Open Another New Chapter, Business News

SHANGHAI, Sept. 3, 2020 /PRNewswire/ — Recently, with China’s first Mars probe “Tianwen 1” having reached a flight mileage of 100 million kilometers, the record for China’s deep space exploration mileage has thus been broken. During the constant development of the aerospace undertakings such as Beidou satellite and navigation networking, Chang’e moon probe activities, return of Long March 5 series launch vehicle, new spacecraft launch and Mars exploration, Master Kong has built the closest relationship with the aerospace industry as a domestic instant noodle brand, and its braised beef noodles and express noodles have become the first space noodles served in China.

To jointly honor this historic moment, the “Quality Aerospace for Better Life-Master Kong Instant Noodle Ceremony & China Aerospace Partner Signing Ceremony” was co-held by Master Kong and China Space Foundation (CSF) on September 2, 2020, presented by leading representatives including Wu Zhijian, Chairman

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China’s First “Space Noodles” Debuts in Shanghai Master Kong Joins Hands with CSF to Open Another New Chapter

SHANGHAI, Sept. 3, 2020 /PRNewswire/ — Recently, with China’s first Mars probe “Tianwen 1” having reached a flight mileage of 100 million kilometers, the record for China’s deep space exploration mileage has thus been broken. During the constant development of the aerospace undertakings such as Beidou satellite and navigation networking, Chang’e moon probe activities, return of Long March 5 series launch vehicle, new spacecraft launch and Mars exploration, Master Kong has built the closest relationship with the aerospace industry as a domestic instant noodle brand, and its braised beef noodles and express noodles have become the first space noodles served in China.

To jointly honor this historic moment, the “Quality Aerospace for Better Life-Master Kong Instant Noodle Ceremony & China Aerospace Partner Signing Ceremony” was co-held by Master Kong and China Space Foundation (CSF) on September 2, 2020, presented by leading representatives including Wu Zhijian, Chairman

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