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Current decisions, news and commentary regarding commercial bankruptcy cases in Delaware.
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U.S. News - Best Lawyers Ranks Eighteen Morris James Practice Areas among 2016 “Best Law Firms” in Delaware
Eighteen Morris James practice areas were recognized in the 2016 “Best Law Firms” rankings by U.S. News – Best Lawyers®. These rankings complement the twenty-one Morris James attorneys who were selected by their peers for inclusion in the “The Best Lawyers in America” 2016 edition.
The practice areas recognized include: More ›
Morris James LLP was presented the Leadership Award at the Delaware State Bar Association’s Christopher W. White 2015 Distinguished Access to Justice Awards Breakfast on October 29th, 2015. The Leadership Award is given to the firm who has demonstrated outstanding leadership in the field of pro bono service to the impoverished in Delaware, and who fosters a culture which recognizes the value of Access to Justice service. More ›
Morris James LLP is pleased to congratulate the lawyers listed below, who were most recommended by their professional peers in a survey of Delaware attorneys conducted by Delaware Today magazine. Sixteen Morris James attorneys were distinguished in their respective practice areas, with seven named as “top vote-getters,” listed below in bold. More ›
On May 21, 2015, as amended on Aug. 18, 2015, the U.S. Court of Appeals for the Third Circuit issued a decision approving the settlement and dismissal of a chapter 11 bankruptcy case through a structured dismissal. The court approved the use of a structured dismissal of a chapter 11 bankruptcy where the dismissal calls for a distribution that does not specifically adhere to the priority scheme in Bankruptcy Code § 507. The Third Circuit’s decision may be narrowed to rare instances, but it is acceptable when there are “specific and credible grounds to justify [the] deviation” from the priority scheme. The Jevic decision, therefore, may provide a template for practitioners to structure dismissals in future chapter 11 cases, and may require courts to determine what constitutes specific and credible grounds to warrant deviating from the Bankruptcy Code’s priority structure.
The National Alliance on Mental Illness (NAMI) of Delaware has recognized Morris James as its “Corporate Partner of the Year.” Managing partner, David H. Williams, accepted this award given in recognition for the firm’s service to the community and support for NAMI Delaware’s mission. National Alliance on Mental Illness (NAMI) is a nonprofit group that raises money and awareness for the treatment of people with mental illness. Over the past 13 years, a dedicated team of Morris James employees has raised money each year in the NAMI Delaware Walk. Margie Touchton, a long-term employee, has led Morris James’ effort which contributes money to fund people in group homes around the state. More ›
On October 7, 2015, Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC filed a Chapter 11 petition seeking protection in the United States Bankruptcy Court for the District of Delaware. The case is docketed as case no. 15-12075, and has been assigned to The Honorable Brendan L. Shannon. More ›
On August 26, 2015, Santa Fe Gold Corporation and three affiliates filed voluntary chapter 11 petitions in the United States Bankruptcy Court for the District of Delaware. The cases are docketed as case no. 15-11761, and have been assigned to The Honorable Mary F. Walrath. More ›
Twenty-one Morris James attorneys in twenty-six practice areas were selected by their peers for inclusion in The Best Lawyers in America 2016 edition. Additionally, three of those attorneys were named “Lawyer of the Year” for their respective practices, including Richard Galperin for Personal Injury Litigation – Defendants, Gretchen S. Knight for Family Law, and Mark D. Olson for Tax Law. More ›
Today, August 13, 2015, Hercules Offshore, Inc. and 14 of its affiliates filed a prepackaged chapter 11 bankruptcy case in the United States Bankruptcy Court for the District of Delaware. Hercules and its affiliates are, according to the petition, providers of shallow-water drilling and marine services to the oil and natural gas exploration and production industry globally. The cases have been assigned to the Honorable Kevin J. Carey and are docketed as case no. 15-11685. More ›
On August 9, 2015, ZLOOP, INC., and two affiliates, Zloop Knitting Mill LLC and Zloop Nevada, LLC filed voluntary chapter 11 petitions in the United States Bankruptcy Court for the District of Delaware. The cases have been assigned to The Honorable Kevin J. Carey and are docketed as case no. 15-11660. Zloop's Chairman and CEO, Robert M. Boston, filed an affidavit in support of the petitions. More ›
Corporate Resource Services, Inc. and Seven Affiliates File Chapter 11 Petitions As Part of Ongoing Wind Down
On July 23, 2015, Corporate Resource Services, Inc. and 7 affiliates filed voluntary chapter 11 petitions in the United States Bankruptcy Court for the District of Delaware. The cases are docketed as case no. 15-11546, and are assigned to The Honorable Mary F. Walrath. The filing appears to be the final steps in an orderly wind down of the companies that began in February, 2015. More ›
Delaware USDC Analyzes Contract Integration; Remands to Bankruptcy Court for Debtor to Assume or Reject One Integrated Agreement
On July 13, 2015, the United States District Court for the District of Delaware issued a memorandum opinion in Huron Consulting Services, LLC v. Physiotherapy Holdings, Inc. et al., Civ. No. 14-693-LPS. Chief Judge Leonard P. Stark authored the opinion which addressed whether a series of agreements was integrated, and whether a debtor was required to assume all agreements in their entirety or could selectively assume certain of the agreements, but not others. More ›
Signal International, Inc. and Affiliates File Chapter 11; CFO Says Filing And Quick Sale Will Resolve 7 Years of Litigation And Preserve Value
On July 12, 2015, Gulf Coast marine service operator Signal International, Inc. and four affiliates, including Signal Ship Repair, LLC, Signal International, LLC, Signal International Texas GP, LLC and Signal International Texas, L.P. filed voluntary chapter 11 petitions in the United States Bankruptcy Court for the District of Delaware. The cases are docketed as case no. 15-11498, and have been assigned to The Honorable Mary F. Walrath. More ›
On June 29, 2015, Baha Mar Ltd, the development company behind a $3.5 billion Bahamian resort and its affiliated debtors, filed for chapter 11 bankruptcy protection in the U.S. Bankruptcy Court in the U.S. District Court of Delaware. Attached here is a copy of the petition. Debtors offer the declaration of Thomas M. Dunlap in support of their first day pleadings. A copy of the first day declaration is here. More ›
On May 21, 2015, the United States Court of Appeals for the Third Circuit approved the settlement and dismissal of chapter 11 bankruptcy cases through a structured dismissal in rare instances. See Official Committee of Unsecured Creditors v. CIT Group/Business Credit Inc., Case No. 14-1465, -- F.3d --, 2015 WL 2403443 (May 21, 2015). In the case before it, the Court approved the structured dismissal of the Chapter 11 bankruptcy case even where the dismissal called for a distribution that did not specifically adhere to the priority scheme set forth in Bankruptcy Code section 507. More ›