Final Decrees Entered in Several Bankruptcy Cases

Final decrees have been entered in the following bankruptcy cases:

• Alterra HealthCare Corp.
• Friedman’s Inc.
• NRG Energy, Inc. (2003)
• Penn Traffic Co. (2003)
• Silicon Graphics, Inc.
• The Delaco Company (Thompson Medical Company, Inc.)

Download every pleading filed in all of the above-listed cases and 430 other major corporate bankruptcies using netDockets.  Sign up for $100 of free usage.

HRP Myrtle Beach Holdings Seeks Conversion to Chapter 7

On January 2nd, HRP Myrtle Beach Holdings, LLC, the owner and operator of Hard Rock Park (a rock-’n-roll theme park in Myrtle Beach, South Carolina), filed a motion with the bankruptcy court requesting that its bankruptcy cases be converted from chapter 11 cases to chapter 7 cases.  Hard Rock Park opened in April 2008 but was unable to generate sufficient attendance to meet its cash flow requirements and HRP Myrtle Beach and its affiliates filed for bankruptcy protection on September 24, 2008.

Thereafter, the debtors attempted to sell substantially all of their assets under section 363 of the Bankruptcy Code.  The bankruptcy court entered an order approving bidding procedures on November 20, 2008.  Those approved bidding procedures contemplated an auction commencing on December 15, 2008 and a sale hearing commencing on December 18, 2008.  However, the debtors did not receive any bids for their assets that were on conditions acceptable to the debtors, their lenders and the Creditors’ Committee.  Moreover, the debtors’ debtor-in-possession financing facility has now expired.  As such, the debtors have determined that the best available option is to proceed with a liquidation under chapter 7 of the Bankruptcy Code.

View a copy of the motion and every other document filed in the HRP Myrtle Beach bankruptcy cases using netDockets.  Sign up now for $100 of free access.

Chesapeake Corporation Creditors’ Committee Appointed

The United States Trustee has appointed the members of the Official Committee of Unsecured Creditors in the Chesapeake Corporation bankruptcy cases.  Chesapeake and certain affiliates filed for bankruptcy in the Eastern District of Virginia on December 29, 2008.  The members of the Creditors’ Committee are:

• US Bank National Association, as Indenture Trustee
• The Bank of New York Mellon
• Peter R. Chiericozzi
• Robert S. Argabright, II
• Thomas H. Johnson
• Jack L. Creech
• Samual J. Taylor

Download a copy of every pleading filed in Chesapeake’s bankruptcy cases using netDockets.  Sign up now for a free trial account and $100 of free downloads and research.

Restructuring Concepts LLC Announces that its netDockets Precedent Research System Now Covers 435 Bankruptcy Cases

Emeryville, Calif. (January 5, 2009) – Restructuring Concepts LLC announced today that its netDockets Precedent Research System (www.netdockets.com) now covers 435 major corporate bankruptcy cases filed since 1997. The netDockets database contains every electronically-available document filed in each case – a total of nearly 1.1 million documents. 

“We are extremely proud of the netDockets product and the feedback that we’ve received from our customers.   The size of the database combined with our innovative user interface creates an incredibly powerful research tool for professionals in the bankruptcy and corporate restructuring industry,” said Randall Reese, president and founder of Restructuring Concepts.

The 435 cases covered by the netDockets Precedent Research System represent over $2 trillion in assets, almost 3.2 million employees, and over $941 billion in annual revenues (all measured at the time of the bankruptcy petition).  While reflecting the large number of corporate bankruptcy cases filed in Delaware and the Southern District of New York, with 168 and 90 cases covered, respectively, the netDockets database also includes cases from every federal circuit and 59 federal judicial districts. 

 About Restructuring Concepts LLC

Restructuring Concepts LLC’s mission is to create value for its customers by applying the best online technology to the process of researching corporate bankruptcy precedent.  The Company’s advanced technology offers users unmatched search capabilities combined with an easy-to-use, intuitive interface.  Randall G. Reese founded the Company after spending nearly six years with the international law firm of Skadden, Arps, Slate, Meagher & Flom LLP in its Corporate Restructuring practice group.  During that time, he represented clients in many large and complex chapter 11 cases, including representing US Airways Group, Inc. (2002), Delphi Corporation, and Washington Group International, Inc. as debtors and debtors-in-possession.  For more information, visit www.netdockets.com.