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

Buffets Restaurants Holdings, Inc. Files for Chapter 11 Protection for the Second Time in Four Years.

The petition lists both assets and liabilities between $100 million and $500 million. The case has been assigned to Judge Mary F. Walrath and is being administered under case number 12-10237. A motion for joint administration of the Debtors’ cases is pending.

The Debtors previously filed for chapter 11 relief in January of 2008 and, after approximately 16 months in chapter 11, the Debtors reorganized and confirmed their plan on April 17, 2009. The plan went effective on April 28, 2009 and the cases have been closed.

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In re: Jer/Jameson Mezz Borrower II, LLC, Case No. 11-13338 (MFW) (December 22, 2011) 

On October 18, 2011 (the “Petition Date”), debtor JER/Jameson Mezz Borrower II (“Mezz II”) filed its Chapter 11 petition on the eve of a UCC auction for Mezz II’s only asset; its membership interest in JER/Jameson Mezz Borrower I, LLC (“Mezz I”).  CDCF JIH Funding, LLC and ColFin JIH Funding, LLC (collectively, “Colony”) was Mezz II’s sole lender and issued a notice of intention to auction Mezz II’s asset prior to the bankruptcy filing because Mezz II failed to repay its debt on the maturity date. 

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Peak Broadcasting, LLC Files for Chapter 11 Protection.

The petition lists both assets and liabilities between $50 million to $100 million.  The case has been assigned to Judge Peter J. Walsh and is being administered under case number 12-10183.

According to the first-day Declaration of Todd Lawley, Chief Executive Officer and Managing Member of each of the Debtors since their formation at the end of 2006 and early 2007, as applicable, Peak Holding was formed in 2006 with the goal of becoming a radio broadcasting platform serving local, growing communities throughout the Western United States. 

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Acartha Group LLC and Two Affiliates File for Chapter 11 Protection.

According to the petition, Acartha estimates its assets between $0 and $50,000 and its liabilities between $1 million to $10 million. Later that day, Acartha filed an amended petition revising the creditor list and signature pages. 

The Acartha case has been assigned to Judge Brendan Linehan Shannon under case number 12-10123.  Acartha Technology Partners L.P. and MIC VII, LLC have also been assigned to Judge Shannon and are being administered under case numbers 12-10124 and 12-10125, respectively.  No first day motions or affidavits have been filed and there are no pending motions to consolidate the three cases.

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International Media Group, Inc. Files for Chapter 11 Protection.

AsianMedia Group LLC and five other affiliates (collectively with IMG, the "Debtors") also sought bankruptcy protection.  IMG lists both assets and debt of $100 million to $500 million in its petition.  The cases have been assigned to Judge Mary F. Walrath and the Debtors have filed motions to have the cases jointly administered under the International Media Group, Inc. case number (12-10140).  Those and other first-day motions are pending.

According to the first-day Declaration of Dennis J. Davis, the Debtors' Chief Restructuring Officer, the Debtors produce and broadcast various Asian- and English-language paid, syndicated and local television programming.  The Debtors serve communities in California and Hawaii.  The Debtors have hired Houlihan Lokey Capital, Inc. as financial advisers and Debtors commenced their Chapter 11 cases in order to conduct a sale of their business as a going concern pursuant to section 363 of the Bankruptcy Code.

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Coach Am Group Holdings Corp. Files for Chapter 11 Protection. 

The petition lists assets between $0 to $50,000 and liabilities between $1 million to $10 million.  Chief Judge Kevin Gross has been assigned the cases, in which motions to have the cases jointly administered under the Coach Am Group Holdings Corp. case number (12-10010) are pending.

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On January 4, 2012, Trident Microsystems, Inc. and Trident Microsystems (Far East) Ltd. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. The petition lists assets between $100 million and $500 million and liabilities between $10 million and $50 million. Judge Christopher S. Sontchi has been assigned the case, which is being administered as case no. 12-10069.

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