Upcoming Committee Formation Meeting:  Thursday, May 4, 2017, 1:00 pm

Case Name: 17-10828 (KG)

Location: Office of the US Trustee 844 King Street, Room 3209 Wilmington, DE 19801

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here.  See the voluntary petitions for reliefpress releaseproposed claims agent for further details.

Contact Norman L. Pernick and Nicholas J. Brannick for more information.

Adams Resources Exploration Company, an oil and gas exploration and production company based in Houston, Texas, has filed a voluntary petition for relief under Chapter 11 under Chapter 11 in the United States Bankruptcy Court for the District of Delaware (Case No. 17-0866-KG).  The Debtor is a subsidiary of Adams Resources & Energy (NYSE MKT: AE), whose primary operations are as a midstream oil and gas transporter.  According to a press release issued by Adams R&E, the Debtor plans to sell its non-operated working interest in approximately 470 wells located in the Permian Basin, Haynesville Shale and across the Gulf Coast.  The Debtor’s petition estimates it assets between $1–$10 million and its liabilities between $50­–$100 million.  The case has been assigned to the Honorable Kevin Gross.

Contact Norman L. Pernick and Nicholas J. Brannick for more information.

Upcoming Committee Formation Meeting: Thursday, April 27, 2017, 10:30 am

Case Name: 17-10772 (BLS)

Location: Delaware State Bar Association 405 King Street, 2nd floor Wilmington, DE 19801

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here.  See the petition for relief under Chapter 11, the First Day Declaration, and the proposed claims agent, Garden City Group, LLC, for further information.

Contact Norman L. Pernick and Nicholas J. Brannick for more information.

Upcoming Committee Formation Meeting:  Friday, April 28, 2017, 1:00 pm

Case Name:  17-10839 (LSS)

Location: Office of the US Trustee 844 King Street, Room 3209 Wilmington, DE 19801

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here.  See the petition and proposed claims agent for further information.

Contact Norman L. Pernick and Nicholas J. Brannick for more information.

Panda Temple Power, LLC and Panda Temple Power Intermediate Holdings II, LLC filed for chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware (Lead case: 17-10839).  The petition lists between $100 and $500 million in both assets and liabilities. Prime Clerk is the proposed claims agent. The Debtors are seeking joint administration of these cases. The Honorable Laurie Selber Silverstein will preside over these cases.

Contact Norman L. Pernick and Nicholas J. Brannick for more information.

Suniva, Inc., a manufacturer of solar cells and solar modules based in Norcross, GA, has filed a petition for relief under Chapter 11 in the United States Bankruptcy Court for the District of Delaware (Case No. 17-10837).  Suniva’s petition reports $10 – $50 million in assets and $100 – $500 million in liabilities.  According to the First Day Declaration, Suniva’s filing was caused by Suniva’s incurrence of significant debt as part of a planned expansion of its production facilities, coupled with downward pressure on solar cell prices caused by foreign competition.  The case has been assigned to the Honorable Kevin Gross.  The Garden City Group, LLC is the proposed claims agent.

Contact Norman L. Pernick and Nicholas J. Brannick for more information.

Venoco, LLC and five of its subsidiaries and affiliates have filed voluntary petitions for relief under Chapter 11 in the United States Bankruptcy Court for the District of Delaware (Case No. 17-10828).  Venoco, an oil and gas exploration and production company primarily operating in California, has issued a press release stating that it intends to wind down its operations through the bankruptcy process.  This is Venoco’s second Chapter 11 filing in the past two years; Venoco’s predecessor, Venoco, Inc., filed for Chapter 11 on March 18, 2016 (Case No. 16-10655).  Venoco, Inc. confirmed a plan of reorganization  on July 14, 2016 (Case No. 16-10655, Docket No. 370), which wiped out nearly $1 billion in debt through a debt to equity conversion.  Venoco’s petition reports $10-$50 million in assets and $50-$100 million in liabilities.  The cases have been assigned to the Honorable Kevin Gross.  Prime Clerk, LLC is the proposed claims agent.

Contact Norman L. Pernick and Nicholas J. Brannick for more information.

Upcoming Committee Formation Meeting:  Friday, April 21, 2017,  9:30 am

Case Name:  17-10810 (LSS)

Location: Delaware State Bar Association 405 King Street, 2nd Floor Wilmington, DE 19801

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here.  See the petitionFirst Day Declaration, and proposed claims agent for further information.

Contact Norman L. Pernick and Nicholas J. Brannick for more information.

California-based Halt Medical, Inc.,  a medical device company, filed for chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware (17-10810).  The petition lists between $1-10 million in assets and between $100-500 million in liabilities. The Debtor’s proprietary and patented product, i.e. Acessa, is a minimally-invasive alternative to hysterectomies that has been approved by the FDA.  According to the First Day Declaration, American Capital, the Debtor’s senior secured lender, majority stockholder, and primary capital provider was acquired by Acres Capital earlier this year and has informed the Debtor shortly thereafter that it will not provide further financing. The First Day Declaration also states that the Debtor filed for chapter 11 protection in an effort to preserve its going-concern value and that it enters chapter 11 with Murray Enterprises, LLC as the Stalking Horse.  An affiliate of the Stalking Horse Purchaser agreed to provide DIP Financing.  Donlin, Recano & Company is the proposed claims agent.  The case has been assigned to the Honorable Laurie Selber Silverstein.

Contact Norman L. Pernick and Nicholas J. Brannick for more information.

Upcoming Committee Formation Meeting: Thursday, April 20, 2017, 11:00 am

Case Name:  17-10793 (KJC)

Location: Office of the US Trustee 844 King Street, Room 3209 Wilmington, DE 19801

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here.  See the voluntary petitions for relief under Chapter 11, the reporting, and the filed complaint for further information.

Contact Norman L. Pernick and Nicholas J. Brannick for more information.