Government Business – Milwaukee County First http://milwaukeecountyfirst.com/ Wed, 11 May 2022 16:26:50 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://milwaukeecountyfirst.com/wp-content/uploads/2021/06/icon-7-1.png Government Business – Milwaukee County First http://milwaukeecountyfirst.com/ 32 32 Bankruptcies – May 2022 – Tri-Cities Area Journal of Business https://milwaukeecountyfirst.com/bankruptcies-may-2022-tri-cities-area-journal-of-business/ Wed, 11 May 2022 16:26:50 +0000 https://milwaukeecountyfirst.com/bankruptcies-may-2022-tri-cities-area-journal-of-business/ Bankruptcies are classified under the following chapter titles:Chapter 7 — Pure and simple bankruptcy: the debtor assigns non-exempt property and the debt is discharged.Chapter 11 — Enables businesses and individuals to restructure their debts to repay them.Chapter 12 — Enables family farmers to restructure their finances to avoid liquidation for foreclosure.Chapter 13 — The plan […]]]>

Bankruptcies are classified under the following chapter titles:
Chapter 7 — Pure and simple bankruptcy: the debtor assigns non-exempt property and the debt is discharged.
Chapter 11 — Enables businesses and individuals to restructure their debts to repay them.
Chapter 12 — Enables family farmers to restructure their finances to avoid liquidation for foreclosure.
Chapter 13 — The plan is designed by the individual to pay a percentage of the debt based on their ability to pay. All available income must be used to pay debts.
Information provided by the United States Bankruptcy Court in Spokane.

CHAPTER 7

Keith Brown, 410 W. Kennewick Ave., Kennewick.

Michael Ray Johnson, 2728 Fleming Lane, Pasco.

Cody Dean Skendzel, 388 E. 16th Ave., Kennewick.

Brooke Adelle Young, 5422 Fern Loop, West Richland.

Jeffery Sanchez, 1114 W. 10th Ave., #EE-203, Kennewick.

Jessica Nicole Sregzinski, 2113 Trippe Street, Richland.

Maria Guadalupe Mendez, 804 W. Park St., Pasco.

Tyler James Linville, 1329 McPherson Ave, Richland.

Salvador Vera and Catalina Vera, 925 N. Elm Ave., #71, Pasco.

Dana Anthony Bankemper and Taylor R. Bankemper, 1916 W. 21st Place, Kennewick.

Matthew Reid Campbell, 71506 N. Zwicker Road, Benton City.

Stephen A. Foster and Patricia J. Foster, 5957 W. Van Giesen St., West Richland.

Debora Dorothy Thomas, 917 N. Union St., Kennewick.

Mohammad Hossein Sadooghi, 828 N. Beech Ave., Pasco.

Alex Adrian Acevedo, 1221 S. 13th Lane, Pasco.


CHAPTER 13

Jack Wesley Burger and Tracie Sue Burger, 15203 N. Albro Road, Prosser.

Joshua Bahr, 6114 Basalt Falls, Pasco.

Estanislada Mila Echeverria, 1832 W. Brown St., Pasco.

Joshua Cole Morgan and Julie Ann Morgan, 3400 S. Jean St., Kennewick.

Hortencia Hermosillo Luna, 10302 S. Missimer Road, Prosser.

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Cannabis Kalamazoo Ch. 11 Filings Test Federal Bankruptcy Process https://milwaukeecountyfirst.com/cannabis-kalamazoo-ch-11-filings-test-federal-bankruptcy-process/ Sun, 08 May 2022 20:59:22 +0000 https://milwaukeecountyfirst.com/cannabis-kalamazoo-ch-11-filings-test-federal-bankruptcy-process/ ACannabis company Kalamazoo’s recent Chapter 11 bankruptcy filing will test particularly murky legal waters and could potentially set a legal precedent for other cannabis-related businesses facing insolvency. Master Equity Group LLC filed April 20 with the U.S. Bankruptcy Court for the Western District of Michigan under Subchapter V of the federal bankruptcy code, a relatively […]]]>

ACannabis company Kalamazoo’s recent Chapter 11 bankruptcy filing will test particularly murky legal waters and could potentially set a legal precedent for other cannabis-related businesses facing insolvency.

Master Equity Group LLC filed April 20 with the U.S. Bankruptcy Court for the Western District of Michigan under Subchapter V of the federal bankruptcy code, a relatively new but frequently used measure designed to expedite the bankruptcy process for small and medium-sized businesses.

In court filings, Master Equity CEO Adam Tucker described Master Equity as a “holding and management company for several related businesses operating in the cannabis industry.” In this role, Master Equity Group purchases or leases properties for sublease to cannabis businesses while performing accounting, payroll, and other centralized functions. Kalamazoo-based Cannazoo Recreational Weed Dispensary is one such brand.

Portrayed by Mark Shapiro of Southfield Steinberg Shapiro & Clark, Master Equity Group faces total liabilities between $100,001 and $500,000. The company owes its 18 major creditors a total of $176,255, according to the filing.

Some of the largest unsecured claims come from Angola, Ind. Northern industrial floors for $26,109, Portage-based internet law firm Legal Review for $23,268, and based in Chicago Adams Outdoor Advertising for $21,340.

Shapiro and Tucker did not respond to requests for comment.

Federal and state laws conflict

However, the case is far from an ordinary bankruptcy filing. Master Equity Group profits from its involvement – albeit indirectly – in the production, marketing, sale and distribution of marijuana, which is still federally illegal.

Under the Controlled Substances Act, marijuana is listed as a Schedule I controlled substance, which is deemed to have no accepted medical use in the United States, a lack of accepted safety for supervised use medical and a high potential for abuse.

Administrators in the United States, who are parties to all bankruptcy cases and serve as a watchdog for the system, generally do not allow cannabis-affiliated businesses to seek protection through the bankruptcy process, leaving suspend the fate of the Master Equity Group case. in the balance.

“The U.S. Trustee’s Office has for several years taken the position that it is illegal for bankruptcy courts to administer cases involving marijuana companies, even if they are legal under state law,” said said Robert Hendricks, senior counsel for Warner Norcross+Judd LLP, who is also co-chairman of the company’s cannabis industry group.

The scant legal precedent, coupled with the U.S. administrator’s vocal stance on the issue, would suggest administrators in the Western District of Michigan will likely file to dismiss the case, Hendricks said.

“They could have said, ‘We’re going to try to file for bankruptcy and argue that because we’re not touching the factory, we have the right to come up with a plan,'” Hendricks said. “Maybe they can convince a bankruptcy court to rule that way, maybe they can’t – who knows. Lots of other people have tried this and most of them don’t. have not succeeded. But every court is different.

However, the case could potentially open new legal horizons if allowed to go ahead.

“This may be the first case in the country, of which I am aware, of allowing an entity legally authorized under state law to cultivate, process or distribute cannabis to receive the same federal right of liquidation or of reorganization as corporate entities in other industries,” said Steve Bylenga, co-founder of the Grand Rapids-based company. CBH Lawyers and Advisorsspecializing in bankruptcy cases.

A spokesperson for the US Trustee Program wrote in a statement to MiBiz“The United States Trustee Program enforcement actions are based on the well-established legal principle that the provisions of the Bankruptcy Code cannot be used to facilitate violations of federal criminal law. That said, enforcement action decisions are based on the particular facts of a case, including whether the affected assets are held in violation of federal law.

Risky business?

While legal precedents for cannabis-related bankruptcies in Michigan may be limited, the petitioners have asked the courts to review their cases. Local attorneys pointed to a few past cases in which cannabis-related businesses were excluded from the bankruptcy process.

One case dates back to 2015 and involved Western Michigan resident Jerry Johnson, who was a licensed grower and caregiver under the state’s medical marijuana law. Johnson filed for Chapter 13 bankruptcy in an attempt to avoid the foreclosure sale of his home. Since about half of his income came from growing and selling marijuana, he was in direct violation of federal law.

The bankruptcy court did not dismiss the case, but it did allow Johnson to go through the bankruptcy process if he exited his marijuana business, which he did.

Another case unfolded in the Eastern District of Michigan involving Basrah Custom Design Inc., which in 2018 filed for Chapter 11 bankruptcy protection. The cabinetmaking business operated out of two buildings spouses, which she rented from a cannabis dispensary. Due to her entanglement with the dispensary, her Chapter 11 case was thrown out by a bankruptcy judge.

With bankruptcy being essentially irrelevant, cannabis companies must seek alternative paths when faced with financial insolvency.

Working with creditors outside of court is one avenue, allowing the cannabis company to try to reach an agreement without the legal shield of bankruptcy that prohibits creditors from taking individual legal action.

“You can try that, but it usually doesn’t work, especially the bigger the case gets and the more creditors get involved,” Hendricks said. “Each creditor wants to get just a little more than his neighbor.”

Michigan also allows state court receiverships in which a state circuit judge appoints a receiver, giving it the power to take control and liquidate the debtor’s assets before distributing money to creditors. . These state court receiverships are permitted under Michigan law and the rules of the state’s Cannabis Regulatory Agency.

The fact that cannabis companies cannot benefit from bankruptcy structure or protection can be risky for parties looking to invest or work in the cannabis space.

“Bankruptcy doesn’t just protect debtors,” Bylenga said. “It also protects creditors and investors by providing a codified, cost-effective process to liquidate or reorganize distressed corporations. Investors like predictability. They like to know in advance how their claim will be handled if a business fails.

While Hendricks echoed that sentiment, he also said some creditors were optimistic that if a cannabis company’s finances deteriorated, they could potentially reach an even better settlement deal.

“In my experience, investors and lenders and those selling on credit to cannabis businesses have already built into their pricing and terms the understanding that bankruptcy is probably not available and that other means will have to be taken if the debtor fails to do so. do it,” Hendricks said.

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Alston hires 2 restructuring lawyers among competitors, amid expectations of rising bankruptcies https://milwaukeecountyfirst.com/alston-hires-2-restructuring-lawyers-among-competitors-amid-expectations-of-rising-bankruptcies/ Tue, 03 May 2022 21:54:29 +0000 https://milwaukeecountyfirst.com/alston-hires-2-restructuring-lawyers-among-competitors-amid-expectations-of-rising-bankruptcies/ With interest rates and inflation rising, Leah Fiorenza McNeill, new partner at Alston & Bird in Atlanta, expects an increase in restructurings and bankruptcies over the next year. McNeill, who joined Alston & Bird’s restructuring and financial reorganization group this week from Bryan Cave Leighton Paisner, focuses on advising clients in the health and food […]]]>

With interest rates and inflation rising, Leah Fiorenza McNeill, new partner at Alston & Bird in Atlanta, expects an increase in restructurings and bankruptcies over the next year.

McNeill, who joined Alston & Bird’s restructuring and financial reorganization group this week from Bryan Cave Leighton Paisner, focuses on advising clients in the health and food sectors. And continuing to expand the restructuring practice, Alston & Bird this week also added New York-based attorney Stephen Blank, who joins from King & Spalding.

McNeill said there will be clients moving with her to Alston & Bird as well as an “overlapping clientele”.

“Those in my area believe that bankruptcy and the area of ​​restructuring and solvency will likely pick up in the next couple of years, although many in this industry have been predicting this rise for years and it hasn’t happened. materialized,” McNeill said in an interview. “That may not be the case, but with current macro indicators such as inflation and rising interest rates, it tends to indicate distress.”

While at BCLP, McNeill represented struggling healthcare organizations, including community hospitals, skilled nursing facilities, healthcare REITs and retirement communities, in Chapter 11 cases and extrajudicial training,

“It’s not that I couldn’t do it in my previous business, but I think with the depth of Alston & Bird and their focus on the healthcare and food and beverage industry , the number of resources and knowledge they have in these two areas, we will be better able to serve our customers in these areas,” she said.

McNeill said she was “delighted to be at Alston & Bird”, noting the firm’s resources, depth of knowledge and strength of the lawyers. “I expect that together with Alston & Bird’s elite healthcare and food and beverage team and with my experience, we can truly achieve great things for our customers,” he said. she declared.

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International Conference on Insolvency and Bankruptcy: Minister says BAC has provided an effective ecosystem for insolvency resolution https://milwaukeecountyfirst.com/international-conference-on-insolvency-and-bankruptcy-minister-says-bac-has-provided-an-effective-ecosystem-for-insolvency-resolution/ Mon, 02 May 2022 05:00:19 +0000 https://milwaukeecountyfirst.com/international-conference-on-insolvency-and-bankruptcy-minister-says-bac-has-provided-an-effective-ecosystem-for-insolvency-resolution/ The first two-day International Research Conference on Insolvency and Bankruptcy organized by Indian Board of Insolvency and Bankruptcy (IBBI), jointly with Indian Institute of Management Ahmedabad (IIMA), will ends on Sunday. Minister of State for Statistics and Program Implementation, Planning and General Affairs Rao Inderjit Singh highlighted the journey of the Insolvency and Bankruptcy Code […]]]>

The first two-day International Research Conference on Insolvency and Bankruptcy organized by Indian Board of Insolvency and Bankruptcy (IBBI), jointly with Indian Institute of Management Ahmedabad (IIMA), will ends on Sunday.

Minister of State for Statistics and Program Implementation, Planning and General Affairs Rao Inderjit Singh highlighted the journey of the Insolvency and Bankruptcy Code (IBC), 2016, and praised the significant contribution he has made in establishing an effective insolvency framework and ecosystem. resolution in the economy.

According to a statement released by IIMA, in his inaugural address, Singh said the Code had taken on greater importance during the Covid-19 pandemic and had helped save both lives and livelihoods.

He also commended the extraordinary contributions of the judiciary, government agencies, regulators and stakeholders in the CIB ecosystem to facilitate rapid and effective implementation of the Code.

He pointed out that the introduction of the proposed framework for cross-border insolvency resolution will be a decisive step in redefining India’s trade and economic relations with the rest of the world.

The two-day research conference was hosted by IIMA’s Misra Center of Financial Markets. Other associate partners of the conference include National Stock Exchange, State Bank of India, BSE Investor Protection Fund and National Institute of Securities Markets.

Rajesh Verma, Secretary of the Ministry of Corporate Affairs (MCA), stressed the need to promote research culture within the regulatory framework. Noting the achievements of the Code, he also pointed out that a comprehensive IT platform for processes under the Code is being developed.

While Mr. Rajeshwar Rao, Deputy Governor of the Reserve Bank of India (RBI) underscored the importance of timely resolution of troubled assets for the banking sector, Ravi Mital, Chairman of IBBI underscored the importance evidence-based research in policy-making.

He stressed that time is the essence of the Code and that fundamental research efforts should be made by all stakeholders to reduce delays at all stages of insolvency resolution, from recognizing stress to the final resolution.

Professor Errol D’Souza, Director of IIMA, said: “Just a few months ago, the Parliamentary Standing Committee on Finance raised questions about insolvency and bankruptcy. Some of the findings they reported were interesting and we thought this was a great opportunity to go back to the drawing board and think about what’s going on in this very important part of the economy. This conference is the right time for us to do so.

The closing day saw panel discussions on insolvency regime reforms, insolvency and bankruptcy resolutions. The conference also included a workshop on data-driven insolvency research, aimed at providing researchers with in-depth exposure to the data currently available for such research and emerging future developments.

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Bankruptcies in North Dakota and Western Minnesota as of April 30, 2022 – InForum https://milwaukeecountyfirst.com/bankruptcies-in-north-dakota-and-western-minnesota-as-of-april-30-2022-inforum/ Sat, 30 Apr 2022 05:00:00 +0000 https://milwaukeecountyfirst.com/bankruptcies-in-north-dakota-and-western-minnesota-as-of-april-30-2022-inforum/ Filed in United States Bankruptcy Court North Dakota Jeremy R. Alexander, Isanti, Minnesota, Chapter 7 Randal L. Holweger, II, Grand Forks, Chapter 7 Kristy J. Schroeder, Minot, Chapter 7 Ryan Joseph Elliott, Minot, Chapter 7 Daniel Paul and Moira Marie Myronenko, Watford City, Chapter 7 Mathew Vincent Steinkuehler, Grand Forks, Chapter 7 Michael S. Colton, […]]]>

Filed in United States Bankruptcy Court

North Dakota

Jeremy R. Alexander, Isanti, Minnesota, Chapter 7

Randal L. Holweger, II, Grand Forks, Chapter 7

Kristy J. Schroeder, Minot, Chapter 7

Ryan Joseph Elliott, Minot, Chapter 7

Daniel Paul and Moira Marie Myronenko, Watford City, Chapter 7

Mathew Vincent Steinkuehler, Grand Forks, Chapter 7

Michael S. Colton, Thompson, Chapter 7

Richard Allen Strom, Lincoln, Chapter 7

Kelly Lee Anderson, Grandin, Chapter 7

Donald Christian Kenna, Fargo, Chapter 7

Michelle Ann Storrusten, West Fargo, Chapter 7

Michael Bryan Caulfield, Jamestown, Chapter 7

Katherine Marie Dunn, Bismarck, Chapter 7

Minnesota

Bankruptcy filings from the following counties: Becker, Clay, Douglas, Grant, Hubbard, Mahnomen, Norman, Otter Tail, Polk, Traverse, Wadena and Wilkin.

Brent Loren Anderson, Detroit Lakes, Chapter 7

Mary Anne Dunn, Henning, Chapter 7

Heather M. Jackson, Fergus Falls, Chapter 7

Chapter 7 is a petition to liquidate assets and discharge debts.

Chapter 11 is a request for creditor protection and reorganization.

Chapter 12 is a petition for family farmers to reorganize.

Chapter 13 is a petition for wage earners to readjust their debts.

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How Alamo Drafthouse Cinema Responded To Bankruptcy | Features https://milwaukeecountyfirst.com/how-alamo-drafthouse-cinema-responded-to-bankruptcy-features/ Tue, 26 Apr 2022 21:00:45 +0000 https://milwaukeecountyfirst.com/how-alamo-drafthouse-cinema-responded-to-bankruptcy-features/ Shelli Taylor is CEO of Alamo Drafthouse Cinema, the Texas-based chain created by Tim League as a one-screen theater in Austin, Texas in 1997. It is renowned for an eclectic slate of new releases as well as a repertoire program dynamic, fan events, premium food and drink on-site, and a strict no-talking and no-texting policy […]]]>

Shelli Taylor is CEO of Alamo Drafthouse Cinema, the Texas-based chain created by Tim League as a one-screen theater in Austin, Texas in 1997. It is renowned for an eclectic slate of new releases as well as a repertoire program dynamic, fan events, premium food and drink on-site, and a strict no-talking and no-texting policy during screenings.

Taylor was appointed in April 2020, when League became executive chairman. During the pandemic, she worked on the March 2021 sale of the company’s assets to senior lenders including Altamont Capital Partners and Fortress Investment Group, League and other investors. The company voluntarily filed for Chapter 11 bankruptcy to allow for a financial restructuring that positioned it for growth.

Alamo theaters eventually reopened, though five locations closed permanently (one in Austin, Dallas and Kansas City, and two in the San Antonio area) and the chain currently operates 36 U.S. theaters. Pandemic initiatives include private rental for families and friends, and the curated VoD platform Alamo On Demand. Earlier this year, Alamo Drafthouse announced it would open seven new locations across the country, including Washington DC, Staten Island and Chicago.

Among executive career highlights prior to Alamo, Taylor worked at Starbucks for 20 years, where she played a key role in the company’s expansion into China; served as Vice President of Disney English, China’s leading provider of English immersion for children; and most recently served as President and COO of United PF Partners, overseeing 169 fitness centers in the United States.

How are the company’s finances today in light of the pandemic and Chapter 11 bankruptcy?
We are in a healthy position. Like everyone who has been through Covid-19, we have been faced with some incredibly difficult choices, but we have used this time wisely, whether it is reviewing bankruptcy, renegotiating all of our leases or work on all of our major contracts and terms. We used it to improve the unit economics of our company. I am grateful that theaters are now open and business is mostly back to normal. During the pandemic, we closed a few places that didn’t make financial sense. We made these painful decisions, but it has allowed us to operate healthy today and, more importantly, to open new sites.

Why should people go to cinema these days?
It’s all that community experience. You can look [SXSW opening night film] Everything everywhere all at once, which is one of my favorite movies right now. You can watch this elsewhere on the small screen [eventually] and it won’t have the same impact as when you’re in a community of several hundred people enjoying a very funny and surprising movie.

There are so many options. The pressure on our industry is not about choice – choice is good and increases viewership and increases opportunities for filmmakers to tell their stories in different ways – but how to create the best experience, whether that’s the presentation, the facilities, the cleanliness of the facilities, the type of food we provide, the people we hire and that experience of joy that we can uniquely create.

Has cinema as a leisure activity reached its peak and if not, how does it develop from here?
Absolutely not. On the contrary, the pandemic has created a deeper desire for people to have experiences outside the home that bring them joy. You’ll see Rolling Roadshow return this year, Alamo Drafthouse Movie Parties will return in a bigger way throughout the summer. For us, it’s about how to do more of what we’ve done and find new ways to surprise and delight, and then continue to open more theaters.

Tell us more about Rolling Roadshow, which isn’t location-specific, and Alamo Drafthouse Movie Nights, which happen in all locations.
Roadshow is a pop-up cinema, usually outdoors but can be indoors, where we bring a film to life in a way no one else can. The most famous example is Jaws On The Water, where we showed Jaws on a giant pop-up screen and our audience is seated in inner tubes on the water. We have one in the works for Top Gun: Maverick. Movie Parties is a similar idea. Our programming and marketing teams will watch a movie and find a way to bring it to life. It could be a special party created around this movie, or it could be glow sticks or hats or other things.

What have been the lessons learned from the pandemic?
That your guests are the most important part of your business. We provide huge experience and they provide the other half. We will continue to double down on excellence in this overall experience. He makes sure the seats and the carpet, the spotlights and everything are world class.

The second lesson is that most of our customers have no idea that we have multiple locations in multiple states across the United States and I never want that feeling to go away. We want to be accessible to more people because we know that we experience cinema, in my humble opinion, better than anyone.

When did Alamo Drafthouse and the entire exhibiting community see the light at the end of the tunnel?
For us, going through bankruptcy was the start and being able to look and say we had enough capital and [operational] structure to ensure very short-term profitability and therefore long-term viability, because when you emerge from bankruptcy that does not mean that you are immediately profitable.

More broadly, what’s happened in the fourth quarter of 2021 and the first quarter of this year is that this amazing slate of movies came back and they stayed. People showed up in droves to Spider-Man: No Coming Home and the rush for this film was phenomenal. But it wasn’t just a blockbuster wonder, because there are so many other great movies that have come out since. We are positioned to have the best quarter [Q1 2022] since the pandemic and even before, on par with previous years. We only see opportunities and we are grateful that the studios present themselves as they do.

The Covid-19 pandemic has shrunk the exclusive theatrical window. What impact has this had on Alamo Drafthouse?
I’ve always been a little puzzled by those numbers—90 days, 45 days. They are arbitrary. Every movie deserves its own strategy and it can be 90, 120 days in a theater, straight to streaming or hybrid. We see [the growing distribution choices] as creating even more flexibility for our audiences. We address a wide audience. We are all in the service of supporting a film in the way it could and should be supported and giving it the best chance of reaching as many people as possible.

What do you think of dynamic ticket pricing?
This is such an interesting topic because from what I can tell, dynamic pricing or variable pricing, depending on how you want to define it, has been a constant in the industry for years. There are certainly minimums that you cannot go below, and then maximums of what your audience will endure. The largest [topic] is that the price is a function of the experience you create, so when filmmakers make amazing products and the studios deliver them to us, we create an amazing experience around that film. Then we will earn our right to the prize.

It is often said that exhibitors must do better when it comes to alternative programming. Alamo excels in this area. Has this always been fundamental to Tim League’s vision?
When Tim started Alamo, he basically said, “I love movies and I love going to them, so how can I experience it the way I want to, ie movies, food and the pleasure ? How do you give people experiences they might not have had otherwise? “There are so many choices and what we don’t want is to categorize our audience. Rather, we’d like to expand their world and give them that opportunity to explore all kinds of genres. He’s been with Alamo since day one.

One of your next locations is the Alamo Drafthouse Staten Island, which has a kung fu theme.
It will be super fun and should open in May or June, depending on permits. We will have The Flying Guillotine bar and although kung fu movies will be our specialty there and we will over-index, we will show other types of movies.

Are there any plans to open Alamo Drafthouse theaters outside of the United States?
Today, the focus is solely on continuing to rebuild our business and proving that we are here to stay. In the long term, who knows? I have a background in international business and a passion for bringing great brands to other countries, but that would be a long term view not a short term one.

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Top Louisiana Personal Injury Lawyers Named, NOMAR Awards, Baker Donelson Attorney to Chair Bankruptcy Panel | Economic news https://milwaukeecountyfirst.com/top-louisiana-personal-injury-lawyers-named-nomar-awards-baker-donelson-attorney-to-chair-bankruptcy-panel-economic-news/ Sun, 24 Apr 2022 05:15:00 +0000 https://milwaukeecountyfirst.com/top-louisiana-personal-injury-lawyers-named-nomar-awards-baker-donelson-attorney-to-chair-bankruptcy-panel-economic-news/ Jan M. Hayden de Baker Donelson was elected president of the American College of Bankruptcy Foundation. Hayden is the first woman to hold this position. She was previously Vice President of ACBF. She has over 40 years of experience handling bankruptcy and insolvency cases. Hayden focuses on assisting clients with restructuring and creditors’ rights both […]]]>

Jan M. Hayden de Baker Donelson was elected president of the American College of Bankruptcy Foundation.

Hayden is the first woman to hold this position. She was previously Vice President of ACBF.

She has over 40 years of experience handling bankruptcy and insolvency cases. Hayden focuses on assisting clients with restructuring and creditors’ rights both in and out of bankruptcy proceedings.

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The National Academy of Personal Injury Lawyers has released its list of top personal injury lawyers in every state.

To be listed, candidates must be licensed, in good standing with the local bar association, and nominated by a practicing attorney or NAOPIA staff researchers. The rankings are independent and free from any commercial influence.

The Louisiana winners are: Andy DupreNew Orleans; Jacob G. PowellNew Orleans; Jason M. BaerFarmhouse; John M. Welborn IIIDeRidder; Joshua D. AllisonCovington; Justin S. BrashearLake Charles; Lane MacalusoFarmhouse; Lauren E. VentrellaRed Stick; Matthew J. PertuitMetairie and Sarah Spigener RodriguezNew Orleans.

Twice a day we’ll send you the day’s headlines. Register today.

The Commercial Investment Division of the New Orleans Metropolitan Association of Realtors recently hosted its annual awards banquet.

The CID rewards program included over 1,000 transactions and a combined real estate activity of $990 million by its members in 2021.

The offer of the year was awarded to Michael Siegel of Corporate Realty and Barry Spizer of SRSA Commercial Real Estate for their role in Tulane University’s lease of the Charity Hospital building on Tulane Avenue.

The Rising Star award was presented to Cute Richard by NAI Latter & Blum.

CEO of NOMAR recently retired Missy Whitton received the annual Service to the Industry Award for over 40 years of service in the real estate industry.

Top RN-BSN, an independent online guide to the best higher education and career options for nurses, ranked Southern University and A&M College, School of Nursing as one of the top 15 nursing schools in historically black colleges and universities.

The Southern School of Nursing was also named School of Nursing of the Year, Graduate Program by the Louisiana Nurses Foundation. It was the fifth time since 2010 that Southern had won this honor.

Purchases made through links on our site may earn us an affiliate commission

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Alex Jones did not file for bankruptcy ahead of Newtown trial as it could ‘hamper his ability to sell goods’ https://milwaukeecountyfirst.com/alex-jones-did-not-file-for-bankruptcy-ahead-of-newtown-trial-as-it-could-hamper-his-ability-to-sell-goods/ Sat, 23 Apr 2022 10:05:23 +0000 https://milwaukeecountyfirst.com/alex-jones-did-not-file-for-bankruptcy-ahead-of-newtown-trial-as-it-could-hamper-his-ability-to-sell-goods/ When Alex Jones’ business entities filed for bankruptcy just days before a trial was set to award libel damages, a Justice Department overseer and a group of Sandy Hook families questioned the timing and legitimacy of the 11 a.m. action that suspended everything. What may have surprised some observers on Friday, however, was the number […]]]>

When Alex Jones’ business entities filed for bankruptcy just days before a trial was set to award libel damages, a Justice Department overseer and a group of Sandy Hook families questioned the timing and legitimacy of the 11 a.m. action that suspended everything.

What may have surprised some observers on Friday, however, was the number of questions and concerns that federal bankruptcy judge Christopher Lopez expressed about Jones’ filings after the judge determined that for the time being, it would take no action to sanction the bankruptcy process.

“Nobody is moving forward on anything today,” Lopez told a crowd of 70 attorneys and observers, shortly after the start of the South Texas Bankruptcy Court videoconference hearing. “(But) I have questions and I will get my questions answered.”

What followed was a spirited two-hour hearing on the country’s most high-profile defamation cases, which made national headlines for a month.


“There’s clearly a lot of emotion on both sides, which is completely justifiable,” Lopez said. “I think some of those concerns are legitimate.”

Lopez’s main concern was how Jones was proposing to use the bankruptcy process to pay damages in three defamation cases he had lost to families in Sandy Hook in Texas and Connecticut, without Jones himself filing for bankruptcy.

Jones proposed to do so by filing for bankruptcy with InfoWars and two other business entities and creating a “litigation trust” to be administered by two former Texas bankruptcy judges. The trust would be funded by Jones himself and his Free Speech Systems, starting at $10 million.

The reason Jones should fund the trust is because two of the business entities in question have no cash and the third has a monthly income of $38,000, his representatives said.

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Bankruptcy Court Allows Continuation of Lawsuit Limiting Default Interest and Subordination Claim, But Dismisses Fraudulent Transfer Claim | King and Spalding https://milwaukeecountyfirst.com/bankruptcy-court-allows-continuation-of-lawsuit-limiting-default-interest-and-subordination-claim-but-dismisses-fraudulent-transfer-claim-king-and-spalding/ Thu, 21 Apr 2022 02:48:21 +0000 https://milwaukeecountyfirst.com/bankruptcy-court-allows-continuation-of-lawsuit-limiting-default-interest-and-subordination-claim-but-dismisses-fraudulent-transfer-claim-king-and-spalding/ On February 25, 2022, Judge Christopher J. Panos of the United States Bankruptcy Court for the District of Massachusetts granted in part and denied in part an assignee lender’s motion to dismiss claims brought by a group of affiliated debtors. The court first found that the debtors plausibly alleged that the lender SHS ACK, LLC […]]]>

On February 25, 2022, Judge Christopher J. Panos of the United States Bankruptcy Court for the District of Massachusetts granted in part and denied in part an assignee lender’s motion to dismiss claims brought by a group of affiliated debtors. The court first found that the debtors plausibly alleged that the lender SHS ACK, LLC was not entitled to default interest. He then considered the debtors’ assertions that the lender’s bankruptcy claim should be made conditional – asking whether the complaint alleged that the plaintiff “engaged in unfair conduct”, that the alleged wrongdoing “caused a prejudice to creditors” or had given the plaintiff “an unfair advantage,” and the subordination would not “conflict with the provisions of the federal bankruptcy law”. The court held that the debtors’ claims, although somewhat conclusive, were sufficient to state a fair subordination claim because: (a) the claim was obtained for an improper purpose – to give SHS leverage to attempt to recover the debtors – and (b) the aggressive tactics of the lender’s instruction to his predecessor to unduly charge default interest harmed debtors by forcing them into bankruptcy.

The bankruptcy court then considered the debtors’ fraudulent transfer requests. The debtors alleged that one of the debtors granted SHS a mortgage without receiving any consideration in return while the entity was insolvent. SHS argued that the debtors’ claim should fail because, among other things, the debtors had not alleged any facts demonstrating that the debtor concerned was insolvent. Because the debtors’ insolvency petition was conclusive and lacked specificity as to the value of the entity’s assets, liabilities, or capital requirements, the bankruptcy court denied that petition with leave to repeat the ask in more detail.

The deal is NESV Ice, LLC vs. SHS ACK, LCC (In re NESV Ice, LLC), No. 21-ap-1093 (Bankr. D. Mass. February 25, 2022). The debtors are represented by Downes McMahon LLP. SHS is represented by Curran Antonelli, LLP. The order is available here

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Alex Jones’ Infowars Files For Bankruptcy Protection https://milwaukeecountyfirst.com/alex-jones-infowars-files-for-bankruptcy-protection/ Mon, 18 Apr 2022 21:11:20 +0000 https://milwaukeecountyfirst.com/alex-jones-infowars-files-for-bankruptcy-protection/ Placeholder while loading article actions Conspiracy website Infowars has filed for bankruptcy protection as founder Alex Jones faces multiple defamation lawsuits related to his false claims that the fatal Sandy Hook elementary school shooting was a “giant hoax “. According to documents filed Sunday in the U.S. Bankruptcy Court for the Southern District of Texas, […]]]>
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Conspiracy website Infowars has filed for bankruptcy protection as founder Alex Jones faces multiple defamation lawsuits related to his false claims that the fatal Sandy Hook elementary school shooting was a “giant hoax “.

According to documents filed Sunday in the U.S. Bankruptcy Court for the Southern District of Texas, three companies owned by Jones are seeking Chapter 11 protection, which would put civil lawsuits on hold while they restructure their finances.

Jones is being sued by the families of several victims of the 2012 bombing that killed 26, including 20 young children, in Newtown, western Connecticut. It is the deadliest elementary school shooting in US history. The 20-year-old shooter committed suicide.

But Jones falsely claimed the massacre was fabricated by gun control advocates and the mainstream media, who he said continued a “false flag” operation staged by “crisis actors.” “.

The families accused him of hijacking these false claims while defaming their loved ones. Some said they were harassed and threatened after Jones posted segments online accusing them of being part of a hoax, with one receiving hate mail referencing the Second Amendment, according to a news segment CBS in 2018. They rejected Jones’ settlement offers.

Jones has since stated in a sworn deposition that he believes the shooting took place and claimed that he “almost had a form of psychosis in the past where I basically thought it was all staged, even though I now learn many times things are not staged.

Jones was found responsible in two separate cases, one in Texas, where he and Infowars are based, and the other in Connecticut, where the mass shooting took place. Damages have yet to be decided in either case, but an initial $725,000 was paid into a bankruptcy trust run by two retired judges, court records show, with $2 funding. million expected at a later date. The Texas court is expected to determine damages first, with jury selection scheduled for April 25.

Last year, a judge in the Connecticut case found Jones liable by default, citing his refusal to comply with court orders or turn over evidence, according to The Associated Press. Jones cited undisclosed health reasons for preventing him from attending either hearing. A $75,000 fine paid by Jones for not showing up was eventually refunded, according to the report.

According to the Chapter 11 filing, Infowars listed assets of less than $50,000 and liabilities of $1 million to $10 million. The filing named 19 people with legal claims against Jones and one person with a potential copyright infringement lawsuit. The other two companies’ filings list 15 overlapping disputed creditors. A filing for Infowars Health lists assets of $500,000 to $1 million.

In his online broadcast on Monday, Jones implored listeners to donate to Infowars, or perhaps buy a shirt or supplements, amid the series of judgments.

“We’re already maxed out, and I’m already spending my relief capital,” Jones said Monday. “And I’m very happy to do it, I’m honored to do it, but once it runs out, that’s it, we have to start laying people off and cutting stuff.”

Jones and his companies have spent more than $10 million in legal fees and expenses related to the Sandy Hook lawsuits, according to a filing.

“Given the limited cash available” for Debtors and Infowars, “there is a strong likelihood that efforts to seek judgment on the Texas actions will result in nothing left for Connecticut Sandy Hook plaintiffs or d ‘other creditors,’ said a court filing signed by Kyung Lee, an attorney for Infowars.

The bankruptcy filing represents a kind of moment of reality for Jones, says Imran Ahmed, executive director of the nonprofit Center for Countering Digital Hate. Jones has become a leading voice on the far right by reaching massive audiences on conventional social media, Ahmed said. It was banned from Facebook, Twitter and YouTube in 2018 and now streams primarily through the Infowars website.

“He’s a guy who a few years ago was sitting on top of a multi-million dollar empire,” Ahmed said. “He’s another troll who’s been exposed and held accountable by the justice system, but the people who benefited from the traffic generated by his lies, misinformation and hate are still sitting in their offices in San Francisco.”

Others have expressed concern that bankruptcy could become a sort of loophole, allowing Jones to dismiss the lawsuit while continuing to spread conspiracy theories online. Businesses that go into Chapter 11 bankruptcy typically continue to operate while they try to get their finances in order.

“Why are people celebrating Alex Jones filing for bankruptcy? Do you think that means he’s broke? Far from it,” tweeted Ron Filipowski, former federal prosecutor. “It’s a ploy to try to avoid paying current and future judgments against him. That’s all.”

Between segments accusing the Ukrainian military of torturing Russians and a conspiracy theory involving Bill Gates trying to “depopulate” Africa, Jones devoted parts of his live show Monday morning to fundraising.

He urged his audience to buy shirts bearing the phrase “Alex Jones was right” and accused judges and the mainstream media of trying to silence him. It also ran an ad in which Roger Stone, a longtime confidant of former President Donald Trump, featured supplements. “I need your help to stay on the air,” Jones said. “We are in the critical part of the battle now.”

Late last year, Jones and Stone were subpoenaed by the House committee investigating the Jan. 6 assault on the Capitol. Rep. Bennie G. Thompson (D-Miss.), chairman of the panel, wrote that Jones was considered a “person of interest” because of his coordination with two people who organized the rally preceding the attack on the Capitol and its promotion of Trump’s false claims of voter fraud.

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