Jennis Morse Etlinger Bankruptcy News October 22, 2021

Jennis Morse Etlinger and its client, a subchapter v debtor, recently attended an initial debtor interview (IDI). While IDIs may appear routine, they are a great opportunity for the debtor to advance its narrative and educate the trustees as to where the case is heading.

JME represents a creditor in a pending subchapter v bankruptcy. On behalf of the creditor, JME filed a rejection ballot and objection to the debtor’s proposed plan. In large part because of the firm’s efforts, the debtor was unable to proceed forward with its confirmation efforts and will be filing an amended plan. This will ensure sufficient disclosures and proper treatment not only for JME’s client, but for the unsecured class as a whole.

The firm appeared on behalf of its client, a defendant and third party plaintiff, at a pretrial conference. The firm’s request for mediation was granted and applauded as an efficient option to hopefully resolve the matters.

Florida Filings

  • Oct 8, 2021 – BT McCarthy, Inc, chapter 11 in the Middle District of Florida
  • Oct 8, 2021 – Darby Cabinetry, chapter 11 in the Middle District of Florida
  • Oct 13, 2021 – JayBeezs Tree Services LLC, chapter 11 in the Middle District of Florida

Bankruptcy News

Johnson and Johnson is the latest company to attempt the “Texas Two Step” whereby a company moves a corporate charter to Texas and then uses corporate friendly laws to bifurcate the company into a healthy, reorganized unit while the other is saddled with the distressed claims. Specifically, J&J has put a unit into chapter 11 which has been hit by claims that its baby powder was tainted with asbestos and subject to products liability claims. Read More

ATTOM, a mortgage data firm, has reported that third quarter 2021 new foreclosures are up 67% over third quarter 2020. However, they are still well below their typical rates. Read more

Investment Notes

We’re tracking a number of previously filed chapter 11 cases. We’ll keep you posted when opportunities are ripening. For more information on how we can help assist with financing opportunities, please contact the firm at (813) 229-2800.