Delaware Business Bankruptcy Report : Delaware Business Bankruptcy Report : Morris James LLP Lawyers & Attorneys

Morris James LLP bankruptcy attorney Tom Horan has been appointed Newsletter Editor for the Young & New Members Committee of the American Bankruptcy Institute. 
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Leiner Health Products Inc., a manufacturer of store brand vitamins, minerals, and nutritional supplements, today filed a voluntary Chapter 11 petition in the United States Bankruptcy Court for the District of Delaware.  The Honorable Kevin J. Carey is presiding over the case.

According to the website the debtor has set up to disseminate information about its case, “Leiner intends to use the Chapter 11 process to restructure its debt obligations and explore the sale of the business.”  

Related entities filing petitions today include LHP Holding Corp., Leiner Health Products, LLC and Leiner Health Services Corp.

UPDATED ON MARCH 11, 2008:
The debtors have filed a motion seeking approval of debtor-in-possession financing in the amount of $74 million.  The proposed maturity date of this DIP facility is the earlier of July 31, 2008, or other possible events in the case including the closing date of a sale of all or substantially all the debtor's assets under section 363 of the Bankruptcy Code, the conversion of the case to a case under Chapter 7, the effective date of a plan of reorganization, the date on which all the loans have been repaid in full or the date of the termination of all of the commitments under the DIP facility.

The first day hearing in this case is scheduled for March 12, 2008 at 11:00 a.m.

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Morris James' Bankruptcy and Creditors' Rights Group proudly announces that Ericka Fredricks Johnson has joined the practice as an associate.  Ms. Johnson received her Bachelor of Arts in Economics, magna cum laude, from the University of Delaware in 1997 and received her Juris Doctor, cum laude, from Widener University School of Law in 2007.  While in law school, she was awarded membership in the Order of the Barristers for excellence in appellate advocacy and the Phi Kappa Phi National Honor Society for academic achievement.  Ms. Johnson served as President of the Moot Court Honor Society and was a member of the Delaware Journal of Corporate Law.  She interned with the Honorable Joseph R. Slights, III in the spring and summer of 2006.  Ms. Johnson has experience in business transactions, where she has represented trustees in new and restructured corporate finance transactions, including trust preferred securities.

Ms. Johnson is admitted to practice in Delaware, New Jersey and the United States District Court for the District of Delaware.  She is a member of the American Bankruptcy Institute,  the Delaware State Bar Association and the American Bar Association.

Ms. Johnson joins one of Delaware's most significant corporate bankruptcy practices.   Morris James' Bankruptcy and Creditors' Rights Group represents creditors, debtors, lenders, creditors' committees, purchasers, investors and other parties in interest before the United States Bankruptcy Court for the District of Delaware, the United States District Court for the District of Delaware, the United States Court of Appeals for the Third Circuit, as well as other state and federal courts.  They have counseled clients in both reorganization and liquidation cases as well as in out-of-court workouts and debt restructurings.

The attorneys of the Morris James Bankruptcy and Creditors Rights Group publish the Delaware Business Bankruptcy Report.

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