There are two significant recent chapter 11 filings that we have added to our databases. The first case is the chapter 11 case of Cargo Transportation Services, Inc. which was filed on Wednesday in the Middle District of Florida. The company is a major trucking company with approximately $100 million in annual revenues and 140 employees. The bankruptcy was allegedly filed in an attempt to halt Comerica Bank’s seizure of the company’s bank accounts and accounts receivable. Comerica has asserted that CTS is in default on over $7 million in loans.
Key court filings to date include (click on the title of any document for more information or to purchase):
- Voluntary Petition under Chapter 11. (Filing Fee Paid) Schedules and Statements Incomplete, Statement of Financial Affairs Not Filed or Incomplete, Disclosure of Compensation of Attorney Not Filed or Not Required, Filed by Edward J. Peterson III on behalf of Cargo Transportation Services, Inc.
- Emergency Motion to Use Cash Collateral Filed by Edward J. Peterson III on behalf of Debtor Cargo Transportation Services, Inc.
The second significant bankruptcy case was filed by B.R. Summerlin Property, LLC (d.b.a. The Heights at Summerlin). The company, which filed for chapter 11 protection earlier this month in Nevada, listed the location of its principal assets as 10550 Park Run Dr. in Las Vegas, Nevada, which is the address of a skilled nursing facility known as The Heights at Summerlin. That facility is operated by Skilled Healthcare, LLC according to that company’s website. Late last year, the Las Vegas Business Press reported that B.R. Summerlin Property, LLC had defaulted on a $15 million loan from Greystone Bank. Two of B.R. Summerlin’s affiliates also filed chapter 11 petitions late last year in the Eastern District of Wisconsin bankruptcy court. Those two companies, B.R. Brookfield Commons No. 1 LLC and B.R. Brookfield Commons No. 2 LLC, own a Wisconsin shopping centre known as The Shoppes at Brookfield Commons.
Key court filings in the B.R. Summerlin Property, LLC case include (click on the title of any document for more information or to purchase):
- Chapter 11 Voluntary Petition. Fee Amount $1039. Filed by GABRIELLE A. HAMM on behalf of B.R. SUMMERLIN PROPERTY, LLC
- Designation of Responsible Person Filed by GABRIELLE A. HAMM on behalf of B.R. SUMMERLIN PROPERTY, LLC