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Civetta Therapeutics is a pioneering bio-tech research firm focused on exploiting the therapeutic potential of β-propeller proteins. Civetta ceased business operations and entered into an Assignment for the Benefit of Creditors on December 22, 2023. The Assignee is now soliciting bids for the acquisition of Civetta Therapeutics’ extensive portfolio of intellectual property, a treasure trove of groundbreaking research and innovation in the field of biotechnology. The available intellectual property portfolio encompasses research by Civetta in a niche area of biotechnology, offering a unique opportunity for entities interested in this field to acquire a comprehensive portfolio of intellectual property with vast therapeutic and commercial potential. Offers must be made no later than April 30, 2024, at 5:00 pm CT. Professionals Involved: William G. Brandt and Matthew Sorenson of DSI Consulting.
Filing an involuntary bankruptcy petition is a powerful collection tool, but an involuntary petition can also come with fees and liability.
A court may recharacterize a creditor’s debt claim as an equity interest. This recharacterization often has a significant impact on creditor claims.
Knowing the collateral value of a secured claim is important. It will impact how the secured creditor is treated under the plan.
Learn how to read a balance sheet, or more importantly, how to read between the lines of the balance sheet assets, liabilities, and equity.
PFC Investment/BUSA, LLC, Austin Merchant Capital Co., LLC, Fin Maletti S.p.A, and Maletti S.p.A , as secured creditors of Maletti Belvedere, LLC and Belvedere USA, LLC will hold a public foreclosure sale of all of the personal property collateral pledged to Secured Creditors, including machinery and equipment, inventory, accounts receivable, general intangibles, contract rights and all other personal property assets, other than any collateral specifically excluded by Secured Creditors in their discretion. The Borrower is in the business of the design and sale of salon furniture and equipment, with assets in Belvedere, Illinois and Mexicalli, Mexico. The sale will be held on March 12th at 10:00 am CT. Professionals Involved: Jeffrey E. Hardyman of Hardyman and DiVerde.
Administrative expenses can qualify as priority claims for unsecured creditors. What are the 3 categories of expenses in chapter 11 bankruptcy cases?
When a seller of real property files for bankruptcy the purchaser has rights under the bankruptcy code and as an executory contract.
Subchapter V works. It saves businesses. It helps the people that own those businesses. And it is cheap and fast, at least compared to “traditional” chapter 11.
In 2023, commercial Chapter 11 filings rose by 72% as compared to 2022. Read more about this surge and what to consider in 2024.