BUSINESS BANKRUPTCY NEWS BULLETIN

(a weekly review of the nation’s bankrupt companies)

 

 

Bankruptcy Notes and News

 

California’s Municipalities

Could Face Bankruptcy Filing Challenges

 

Some legislators in California are proposing a plan that could make it more difficult for counties and cities to file for bankruptcy protection. Currently, state law in California permits its municipalities to file Chapter 9 quickly so that they can restructure their debt. But a bill winding its way through the state’s legislature would require cash-strapped cities and counties to first get approval from a state commission that would oversee Chapter 9 filings. Complicating the issue is that with California’s state budget facing a $21 billion hole, Governor Arnold Schwarzenegger is proposing to borrow $2 billion from municipalities through a law that allows the state to require 8% loans of certain property-tax revenue from the cities and counties.

            The bill was prompted a year ago when the city of Vallejo blamed part of its own budget crunch on police and firefighter contracts, ultimately getting bankruptcy court permission to dump its labor contracts with the firefighters. In turn, the California Professional Firefighters union pushed for legislation to block such bankruptcy filings, saying that Vallejo was using Chapter 9 as a negotiating tactic.

 

 

 

BANKRUPT COMPANIES

 

ADC Agoura LLC filed Chapter 11 in the U.S. Bankruptcy Court for the Central District of California. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-16309. For more information contact the court at 213-894-4111.

 

Agape World Group Inc. filed Chapter 11 in the U.S. Bankruptcy Court for the Northern District of Texas. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-43308. For more information contact the court at 800-826-9008.

 

Alvin Oak Hollow Associates Ltd. filed Chapter 11 in the U.S. Bankruptcy Court in Arizona. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-11952. For more information contact the court at 888-549-5336.

 

American Community Newspapers Inc. said that it received an offer from secured creditors to acquire its assets. The buyout offer, which has been approved by the U.S. Bankruptcy Court, comes along with a commitment to provide a $5 million debtor-in-possession financing facility. American Community Newspapers LLC, Addison, Tx., filed Chapter 11 in April listing assets of less than $100,000 and liabilities of between $1 million and $100 million. The filing, in Delaware, was under case number 09-11854.

 

American Institutional Partners LLC filed Chapter 11 in the U.S. Bankruptcy Court in Utah listing assets and liabilities of between $10 million and $50 million each. The case number is 09-25375.

 

Anchor Blue Retail Group Inc. filed Chapter 11, along with four affiliates, in the U.S. Bankruptcy Court for the District of Delaware. The firm listed liabilities of between $100 million and $500 million. Included in the filing was Hub Distributing Inc. of Ontario, Ca. For further information contact the court at 302-252-2900.

 

Anekona W LLC filed Chapter 11 in the U.S. Bankruptcy Court in Hawaii. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-01182. For more information contact the court at 808-522-8122.

 

Asarco LLC, the bankrupt Tucson, Az. copper-mining firm, received a revised $2.9 billion offer from Grupo Mexico SAB to be taken out of Chapter 11 proceedings. Grupo Mexico says that the value of its new offer exceeds another one from India’s Vedanta Resources PLC by a half billion dollars. The Mexican company has been struggling to keep control of the U.S. unit, particularly after a court in Texas ruled earlier in the year that Grupo Mexico acted against Asarco’s interests in a merger, with Grupo Mexico being ordered to restore more than $6 billion in stock and dividends to Asarco. With regard to an Asarco sale, at least one other bidder is in the game, with Harbinger Capital recently receiving approval from the U.S. Bankruptcy Court in Texas to submit its own reorganization plan.

 

Autoclub Body and Paint Service Inc. filed Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Florida. The firm listed assets of between $100,000 and $1 million and liabilities of between $1 million and $100 million. The case number is 09-20354. For more information contact the court at 800-473-0226.

 

Aventine Energy Holdings asked for permission from the U.S. Bankruptcy Court to hire Greenberg Traurig as counsel, among other advisers.

 

Beechwood Mountain Realty LLC filed Chapter 11 in the U.S. Bankruptcy Court for the Eastern District of New York. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-44429. For more information contact the court at 800-252-2573.

 

Best Building & Supply Lumber Corp., a Speonk, N.Y. firm which recently filed Chapter 11, has now listed assets and liabilities of between $1 million and $10 million each. The firm’s filing was in the U.S. Bankruptcy Court in Eastern New York.

 

Bob’s Steak & Chop House, Dallas, Tx., filed Chapter 11, listing liabilities of between $1 million and $10 million. Bob’s also operates as Silveroak Holdings Inc.

 

Business.com Inc. filed Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-11851. For further information contact the court in Wilmington, De. at 302-252-2900.

 

Butler International Inc., a provider of engineering and technical outsourcing services, filed Chapter 11, along with eight affiliates. The filing, in the U.S. Bankruptcy Court in Delaware, listed assets and liabilities of between $50 million and $100 million each. The case number is 09-11915. For further information contact the court in Wilmington, De. at 302-252-2900.

 

Caraustar Industries Inc., an Austell, Ga.-based manufacturer of recycled paperboard products, filed Chapter 11, along with eighteen affiliates, after reaching agreement with certain noteholders on a deal to reduce its debt by $135 million. The company also won a credit agreement from GE Capital Corp. for $75 million to help with its prepackaged restructuring. Following its reorganization, Caraustar will emerge as a private entity controlled by Wayzata Investment Partners. The bankruptcy filing, in the U.S. Bankruptcy Court for the Northern District of Georgia, was under case number 09-73830. For more information on the Caraustar bankruptcy filing contact the court at 800-510-8284.

Cent Anni 15 LLC filed Chapter 11 in the U.S. Bankruptcy Court in New Jersey. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-23496. For more information contact the court at 877-239-2547.

 

Central Valley Construction Engineering Inc. filed Chapter 11 in the U.S. Bankruptcy Court for the Eastern District of California. The firm listed assets of less than $100,000 and liabilities of between $1 million and $100 million. The case number is 09-30893. For more information contact the court at 916-551-2989.

 

Christian Lacroix, the venerable French fashion house, filed for protection from creditors. Lacroix, which is U.S.-owned, will have its fate determined by France’s Commercial Court, which will decide whether to restructure the firm or liquidate it.

 

Chrysler LLC is ready to exit Chapter 11 proceedings after filing for bankruptcy protection only about a month ago. The U.S. Bankruptcy Court recently turned down efforts by some pension funds that had been trying to block the sale of Chrysler’s assets to a group led by Italian-based Fiat SpA. But now with the plan approved, Fiat will end up with a fifth of Chrysler and the United Auto Workers’ healthcare trust will hold a 55% interest in the Michigan carmaker, which will now be known as Chrysler Group LLC. The U.S. government will get an 8% stake while the Canadian government will receive a 2% interest in the company. Cerberus Capital Management LP, the private-equity firm that took Chrysler private two years ago in a more than $7 billion buyout, will come out empty-handed.

 

Costa Blanca II Real Estate LLC filed Chapter 11 in the U.S. Bankruptcy Court for the Middle District of Florida. The firm listed assets and liabilities of between $100 million and $500 million each. The case number is 09-07274. For more information contact the court at 866-879-1286,

 

Dallas Tigermark LP was hit with an involuntary Chapter 11 bankruptcy petition in the U.S. Bankruptcy Court for the Eastern District of Texas. No schedules were listed. The case number is 09-41786. For more information contact the court at 800-466-1694.

 

Dearman Ford Inc. filed Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Mississippi. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-51118. For more information contact the court at 601-435-2905.

 

Delphi Corp., the bankrupt Troy, Mi. automotive supplier, agreed to sell certain U.S. and overseas operations to Platinum Holdings II LLC, which will then operate Delphi’s operations funded with $3.6 billion in exit financing commitments. Certain U.S. operations, including Delphi’s steering business, will be sold to now-bankrupt General Motors Corp., Delphi’s former parent company. However, if it can’t get its creditors to go along with the sale plan, Delphi would resort to a court auction of its assets in accordance with the so-called 363 section of the U.S. Bankruptcy Code. A hearing on the sale is set for 7/23.

Deseret Properties LLC filed Chapter 11 in the U.S. Bankruptcy Court in Utah. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-25491. For more information contact the court at 800-733-6740.

 

Direct Money Source Inc. was hit with an involuntary Chapter 11 bankruptcy filing in the U.S. Bankruptcy Court for the Central District of California. No schedules were listed. The case number is 09-23153. For more information contact the court at 213-894-4111.

 

Door Store, a family-owned retailer with nine locations in New Jersey and New York, filed Chapter 11, listing assets and liabilities of about $2.6 million and $2.2 million respectively.

 

DTZ Rockwood LLC filed Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-13566. For further information contact the U.S. Bankruptcy Court in Manhattan, N.Y. at 212-668-2870.

 

Eagle Geophysical Inc., a Houston, Tx. energy seismic exploration concern, filed Chapter 11, along with its Eagle Geophysical Onshore Inc. subsidiary. The filing, in the U.S. Bankruptcy Court for the Southern District of Texas, listed assets of more than $1 million and liabilities of more than $10 million. The main case number of the Eagle filing is 09-33753.

 

East State Equipment Co. Inc. filed Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Georgia. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-60494. For more information contact the court at 706-724-2421.

 

ERE-MT LLC filed Chapter 11 in the U.S. Bankruptcy Court in Arizona. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-11411. For more information contact the court at 888-549-5336.

 

Fairfield Shopping Center LLC filed Chapter 11 in the U.S. Bankruptcy Court for the Central District of California. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-22891. Also, the reorganization plan and disclosure statement are due to be presented in September. For more information contact the court at 213-894-4111.

 

Feed The Meter LLC filed Chapter 11 in the U.S. Bankruptcy Court for the Northern District of California. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-31504. For more information contact the court at 888-457-0604.

 

Foamex International Inc., the Linwood, Pa. maker of foam products, received approval from the U.S. Bankruptcy Court to sell nearly all of its assets as a going concern to a group including certain affiliates of MattlinPatterson Global Opportunity Partners III LP.

 

Friar Tuck Inc. of the Catskills Inc. filed Chapter 11 in the U.S. Bankruptcy Court for the Northern District of New York. The firm listed assets of less than $100,000 and liabilities of between $1 million and $100 million. The case number is 09-11996. For more information contact the court at 800-206-1952.

 

Furniture In-Parts Corp. filed Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-13399. For further information contact the court at 212-668-2870.

 

Gasco Distribution Systems Inc. filed Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Ohio. The firm listed assets of between $100,000 and $1 million and liabilities of between $1 million and $100 million. The case number is 09-56171. For more information contact the court at 800-726-1004.

 

GBGH, an affiliate of U.S. Energy Systems, received approval from the U.S. Bankruptcy Court for its second amended Chapter 11 reorganization plan, which will hopefully become effective in June.

 

General Motors Corp. detailed some of its plans about which factories will survive its reorganization, saying that none of its auto-manufacturing operations in Asia are up for sale and that it will, in fact, expand in that market, particularly in China. GM will also keep its operations in Brazil, which are financially independent and could, if necessary, seek local financing. Separately, it was revealed that in GM’s deal to sell its Hummer brand, the buyer will be Tengzhong Heavy Industries Machinery Co. of China, a maker of road-construction equipment and other heavy gear. The price tag wasn’t revealed but it’s believed to be less than $500 million. Tengzhong is purchasing only the GM Hummer brand and not the related military Humvee, which is manufactured by South Bend, In.-based AM General Corp. GM’s Hummer sales have dropped sharply in recent years because of high oil prices and the unit had been slated for divestiture. Separately, GM’s car sales fell 30% in May from the year-ago period, a relatively strong showing and better than an overall 34% drop in U.S. car sales during the month.

 

Genmar Holdings Inc., the privately-held Minneapolis, Mn. boat manufacturer, filed Chapter 11 in the U.S. Bankruptcy Court in St. Paul, Mn., as a result of weakness in the credit market and slumping boat sales. Genmar, which is controlled by financier Irwin Jacobs, listed assets and liabilities of $237 million and $216 million respectively. The filing doesn’t include more than $400 million in intangible assets. Genmar is asking for approval from the court for debtor-in-possession financing through Wells Fargo & Co. and Fifth Third Bancorp to boost its $100 million in cash and current assets to fund operations as it reorganizes. Over the past year and a half Genmar has closed plants and slashes its payroll by about 3,000 jobs, leaving it with 1,500 workers.

 

Get Digital Smart.com Inc. filed Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. The firm listed assets of less than $100,000 and liabilities of between $100 million and $500 million. The case number is 09-11840. For further information contact the U.S. Bankruptcy Court in Wilmington, De. at 302-252-2900.

 

Goody’s LLC has seen a 6/22 deadline set for filing proof of claims in its Chapter 11 bankruptcy. For further information contact the U.S. Bankruptcy Court in Wilmington, De. at 302-252-2900.

 

Green Mountain Mgmt LLC was hit with an involuntary Chapter 11 filing in the U.S. Bankruptcy Court for the Northern District of Alabama. No schedules were listed. The case number is 09-03129.

 

Halla Climate Systems Alabama Corp. filed Chapter 11 in the U.S. Bankruptcy Court in Delaware. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-11798. For further information contact the court at 302-252-2900.

 

Hartmarx Corp., the Chicago, Il. apparel company, received approval from the U.S. Bankruptcy Court for a raised bid, now valued at $128 million, from Emerisque Brands and SKNL North America. The offer for nearly all of Hartmarx’s assets and some liabilities exceeds an earlier Emerisque/SKNL bid of $119 million.

 

Hawaii Superferry Inc. in Hawaii filed for bankruptcy protection in the U.S. Bankruptcy Court in Delaware. Its parent company, HSF Holding Inc., sought protection from creditors as well. Hawaii Superferry, with assets and liabilities of more than $100 million each, intends on liquidating its operations.

 

Home Renovators & Builders filed Chapter 11 in the U.S. Bankruptcy Court for the Central District of California. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-23085. For more information contact the court at 213-894-4111.

 

Huntingdon Recycling LLC filed Chapter 11 in the U.S. Bankruptcy Court for the Western District of Tennessee. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-12145. For more information contact the court at 888-381-4961.

 

Huntsville Parkway Place Properties Inc. filed Chapter 11 in the U.S. Bankruptcy Court for the Northern District of Alabama. The firm listed assets of less than $100,000 and liabilities of between $1 million and $100 million. The case number is 09-82120. For more information contact the court at 877-466-8879.

 

Illinois Car Care LLC filed Chapter 11 in the U.S. Bankruptcy Court for the Northern District of Illinois. The firm listed assets of less than $100,000 and liabilities of between $1 million and $100 million. The case number is 09-72272. For more information contact the court at 888-232-6814.

 

Jeep Eagle 17 Inc. filed Chapter 11 in the U.S. Bankruptcy Court in New Jersey. The firm listed assets of between $100,000 and $1 million and liabilities of between $1 million and $100 million. The case number is 09-23708. For more information contact the court at 877-239-2547. 

 

JGW Holdco LLC has seen a 6/1 hearing scheduled to consider the confirmation of its Chapter 11 reorganization plan. Objections to the plan must be filed by today. For further information contact the U.S. Bankruptcy Court in Wilmington, De. at 302-252-2900.

 

M. Parrish Properties Inc. filed Chapter 11 in the U.S. Bankruptcy Court in Nevada. The company, which does business as Pegasus Ranch, listed assets and liabilities of about $6 million and $6.6 million respectively. The case number is 09-18660. For more information contact the court at 800-314-3436.

 

Magna Entertainment Corp. has seen a 7/31 deadline set for submitting bids for assets in its Chapter 11 bankruptcy reorganization. For further information contact the U.S. Bankruptcy Court in Wilmington, De. at 302-252-2900.

 

Mark Shale, a Chicago, Il.-area high-end apparel retailer, got a $2 million lifeline from JOB Investments LLC, which is providing the debtor-in-possession financing facility till the end of September. The retailer will use the money to buy inventory, pay its staff and reduce debt. In the meantime, JOB has until the end of this week to make an offer to acquire Mark Shale. The company had sales last year of more than $50 million.

 

McStain Enterprises Inc., a Louisville, Co. homebuilder, filed Chapter 11, listing assets and liabilities of between $10 million and $50 million each.

 

Metaldyne Corp., a Plymouth, Mi.-based automotive supplier, filed Chapter 11 in conjunction with entering into two nonbinding deals to sell most of its assets to Carlyle Carlyle Group and to RHJ International. RHJ owns a majority interest in Asahi Tec, which is the parent company of Metaldyne. Metaldyne, facing about $600 million in long-term debt, won an $18.5 million debtor-in-possession financing facility to fund its restructuring. The company, with revenue last year of $1.6 billion, has 4,400 employees at more than thirty facilities in fourteen countries.

 

Milacron Inc. has seen a 6/24 deadline set for filing bids for assets in its Chapter 11 bankruptcy. For more information contact the debtor’s attorney, Tim Robinson, at 513-977-8200.

 

Miller Park Townhome Condominiums LLC filed Chapter 11 in the U.S. Bankruptcy Court for the Eastern District of Michigan. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-57040. For more information contact the court at 877-422-3066.

 

Monell’s, a restaurant company in Nashville, Tn., filed Chapter 11 in an effort to gain some time so that it can refinance its property.

 

Most Purchasing Corp. filed Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. The firm listed assets of less than $100,000 and liabilities of between  $100 million and $500 million. The case number is 09-11775. For further information contact the court in Wilmington, De. at 302-252-2900.

 

Muzak Holdings LLC has seen a 7/2 deadline set for filing proof of claims in its Chapter 11 bankruptcy. For further information contact the U.S. Bankruptcy Court in Wilmington, De. at 302-252-2900.

 

Nelstad Material Corp. filed Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-22918. For further information contact the court in Manhattan, N.Y. at 212-668-2870.

 

Nortel Networks Corp., the bankrupt Brampton, Ontario-based manufacturer of telecommunications equipment, is selling its majority interest in a joint venture with LG Electronics of South Korea, pending approval from the courts. The LG venture, which is profitable, is not part of Nortel’s bankruptcy proceedings in the U.S. and Canadian bankruptcy courts.

 

Northfield Laboratories Inc. filed Chapter 11 as it winds down its operations. Several weeks ago Northfield, Evanston, Il., was told by regulators that its PolyHeme blood product needed more clinical development, but Northfield, which has lost $220 million over the past 20-something years, said it wouldn’t be able to raise the financing needed to continue work and will instead liquidate. Northfield filed under case number 09-11924 in the U.S. Bankruptcy Court in Delaware, listing assets and liabilities of between $1 million and $100 million each.

 

Norwood Promotional Products Holdings Inc. has seen a 6/16 deadline set for submitting bids for assets in its Chapter 11 bankruptcy. A hearing on the sale is set for 6/19. For further information contact the U.S. Bankruptcy Court in Wilmington, De. at 302-252-2900.

 

Olly’s Retail USA Inc. filed Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-13464. For further information contact the U.S. Bankruptcy Court in Manhattan, N.Y. at 212-668-2870.

 

Particle Drilling Technologies Inc., a Houston, Tx. energy services firm, filed Chapter 11. The filing, in the U.S. Bankruptcy Court for the Southern District of Texas, listed assets and liabilities of between $1 million and $10 million each.

 

Phoenix Coyotes could face a decision by the U.S. Bankruptcy Court as early as 6/9 on whether the hockey team can be sold and moved to Canada from its current home in Arizona. Businessman Jim Balsillie, the CEO of BlackBerry company Research In Motion Ltd., has set a deadline at the end of June regarding his more than $200 million offer to purchase the Coyotes.

 

Plainview Peanut Co. and Tidewater Blanching Co., both units of Peanut Corporation of America, filed Chapter 7 as part of Peanut Corporation’s Chapter 7 case.

 

Psystar, a computer firm, filed Chapter 11 in the U.S. Bankruptcy Court in Florida, amid a legal battle with Apple Inc.

 

Punchcraft Co. filed Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York. The firm listed assets and liabilities of between $500 million and $1 billion each. The case number is 09-13423. For further information contact the court in Manhattan, N.Y. at 212-668-2870.

 

Robert Manufacturing Co. filed Chapter 11 in the U.S. Bankruptcy Court for the Central District of California. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-21395. For more information contact the court at 213-894-4111.

 

Quebecor World Inc. has seen a 6/18 creditors’ meeting scheduled in its bankruptcy proceedings under Canada’s Companies’ Creditors Arrangement Act. For more information call 866-516-0910.

 

R.H. Donnelley Corp., the big Cary, N.C. yellow-pages publisher, succumbed to debt pressures and filed Chapter 11 after agreeing with important creditors on a plan to restructure its $10 billion pile of debt. Donnelley already reportedly has an agreement in principle with some debtholders to cut $6.4 billion of its debt, which would reduce interest payments by $500 million a year. The company added that it can fund its reorganization with $300 million in cash that it has on hand and that it doesn’t intend on seeking other financing to carry it through its restructuring. Donnelley, which listed assets and liabilities in the neighborhood of $12 billion each, ran into a number of problems in recent years, including the effects of the weak economy and debt that it accumulated through a number of acquisitions. The firm’s filing was made in the U.S. Bankruptcy Court in Wilmington, De.

 

Robert Manufacturing Co. filed Chapter 11 in the U.S. Bankruptcy Court for the Central District of California listing assets and liabilities of between $10 million and $50 million each.

Saunders Mfg. Co. Inc. filed Chapter 11 in the U.S. Bankruptcy Court in Maine. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-10718. For more information contact the court at 800-650-7253.

 

Skinner Engine Co.’s Chapter 11 plan was rejected by the U.S. Bankruptcy Court in Pennsylvania, which instead ordered that the case be converted to Chapter 7.

 

Skybus Airlines Inc. won approval from the U.S. Bankruptcy Court for a $1 million settlement that will go to more than 300 former Skyline employees.

 

Southern Land & Lumber Co. Inc. filed Chapter 11 in the U.S. Bankruptcy Court for the Middle District of Georgia. The firm listed assets of less than $100,000 and liabilities of between $1 million and $100 million. The case number is 09-51693. For more information contact the court at 800-211-3015.

 

Steve Tupey Tire Service Inc. filed Chapter 11 in the U.S. Bankruptcy Court in Minnesota. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-33680. For more information contact the court at 800-959-9002.

 

Stock Building Supply Inc., a bankrupt Raleigh, N.C.-based provider of building products, is closing its store in Kernersville, N.C. as part of its Chapter 11 reorganization. StockBuilding hopes to find a buyer for the site, but if it can’t it will shutter the location and liquidate the inventory.

 

Sunglas LLC filed Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-11303. For further information contact the U.S. Bankruptcy Court in Wilmington, De. at 302-252-2900.

 

Tribune Co.’s hoped-for sale of its Chicago Cubs baseball team to the Ricketts family is far from complete. While there had been reports that the Rickettses had arranged for financing for the $900 million transaction, the tough economic climate has some wondering whether the financing will come through.

 

Tronox Inc. asked for permission from the U.S. Bankruptcy Court to hire Assessment Technologies as a property-tax consultant.

 

Tucson West Hotel Associates LLC filed Chapter 11 in the U.S. Bankruptcy Court in Arizona. for The firm listed assets and liabilities of between $1 million and $100 million each. The case number is 09-11440. For more information contact the court at 888-549-5336.

 

USI Senior Holdings Inc. has seen a 6/19 deadline set for submitting ballots in its Chapter 11 reorganization plan. For further information contact the U.S. Bankruptcy Court in Wilmington, De. at 302-252-2900.

 

Vaquero de los Robles and Spanish Springs, two development projects in San Luis Obispo County, Ca. owned by businessman John King, filed for Chapter 11 bankruptcy protection. Vaquero listed assets and liabilities of about $11 million each while Spanish Springs has assets and liabilities of $17.5 million and $6.6 million respectively.

 

Visteon Corp., the big Van Buren Township, Mi.-based automotive supplier, filed Chapter 11, battered by the downturn in the auto sector that shows little sign of easing anytime soon. Visteon, once a unit of Ford Motor Co., has assets of about $4.6 billion and liabilities of over $4 billion. Among its obligations is almost $900 million in unfunded pension obligations. The firm is also sitting on cash and short-term investments of about $625 million. Visteon, which filed a first-day request to continue paying its customers, suppliers and employees, has more than two dozen facilities and 31,000 employees. Back in April, its Visteon UK Ltd. business filed for bankruptcy protection and closed three plants in Great Britain. Visteon’s U.S. filing was in the U.S. Bankruptcy Court in Delaware.

 

Windfall Specialty Powders Inc. filed Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York. The firm listed assets and liabilities of between $500 million and $1 billion each. The case number is 09-13424. For further information contact the court at 212-668-2870.