Chapter 15 bankruptcy

Memorial Production Partners made an announcement on Nov. 1 that disclosed not only their financial status but also a bolt from the blue to many of its investors. Memorial revealed that its financial outlook for the quarter was uncertain but not essentially bad.  For instance, despite the plummeting energy prices and lesser production of oil […]

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Platinum Partners filed for Chapter 15 on Oct. 18 as part of its liquidation attempt, according a federal court filing in New York. In August, a court in Cayman Islands ordered that an external specialist needs to liquidate the purported offshore accounts of hedge fund Platinum Partners Value Arbitrage.  The firm is under investigation by […]

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Hanjin Shipping Company declared bankruptcy in South Korea in August, and asked that the bankruptcy be recognized by the United States. While Hanjin is sorting out its bankruptcy, there has been obvious disorder as vessels have been stranded off shore, along with crews and cargo. Hanjin’s bankruptcy case appeared to be unplanned.  Usually, bankruptcy professionals […]

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Hanjin Shipping Co. has filed for Chapter 15 bankruptcy in the United States seeking protection for its ships from being taken by creditors. The South Korean shipping filed the petition on Sept. 2.  Chapter 15 bankruptcy sorts out international bankruptcy matters.  The case was filed in Newark, New Jersey bankruptcy court after the company declared […]

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Abengoa, a solar energy company based in Spain, has benefitted $191 million from the financial aid of Export-Import Bank last month.  This has incited speculation since the company just filed for bankruptcy last month.  The creditors are expecting that the company will repay the debts on the balance sheet upon receiving the said amount. Abengoa, […]

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Zodiac Pool Solutions is a supplier of swimming pool products. It is owned by international company Carlyle Group LP.  Zodiac stated up to $1 billion in assets and over $1 billion in debts in its Chapter 15 filing with the U.S. Bankruptcy Court in Wilmington, Delaware. Through a Chapter 15 bankruptcy case, the court provides […]

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