N. Chesterfield, VA -- (ReleaseWire) -- 12/29/2021 -- Nordic Aviation Capital ("NAC"), the world's largest regional aircraft lessor and the sixth largest commercial aircraft lessor, has filed for bankruptcy seeking to restructure its debt under chapter 11 of the bankruptcy code. Bankruptcy petitions were filed by NAC and over 100 affiliated debtors. NAC and its affiliated debtors filed for bankruptcy protection on December 17, 2021 and December 19, 2021 in the Eastern District of Virginia, Richmond Division.

The hearings on NAC's first day motions were held via Zoom on Tuesday, December 21st at 9:00 a.m. in the virtual courtroom of Judge Kevin Huennekens. The standard first day motions were brought and approved at the hearing:

1. Wages Motion
2. Cash Management Motion
3. Vendors Motion
4. Customer Programs Motion
5. Taxes Motion
6. Insurance Motion
7. Joint Administration Motion
8. Claims & Notice Agent Application for Epiq
9. Statement of Financial Affairs Extension & Creditor Matrix Motion

Notably absent from the first day motions was the debtor-in-possession ("DIP") financing motion. Chad Husnick of Kirkland & Ellis LLP, proposed counsel for NAC, advised that the DIP motion will be brought in January 2022 as NAC has sufficient cash on hand to fund operations during the early part of its bankruptcy case.

At the first day hearings, Mr. Husnick painted of picture of the once profitable enterprise being forced into bankruptcy due to reduced travel caused by the Covid-19 pandemic.

Mr. Husnick outlined a brief layover in bankruptcy with the following milestone dates:

1. File Plan & Disclosure Statement on January 18, 2022
2. Entry of Disclosure Statement Order on March 18, 2022
3. Entry of Confirmation Order on April 18, 2022
4. Plan Effective Date on May 18, 2022

Additionally, Mr. Husnick detailed that NAC has entered into a restructuring support agreement ("RSA") with over 73% of NAC's approximately $6.3 billion in debt obligations. The terms of the RSA establish the framework for a consensual and comprehensive financial restructuring that will restructure the Company's debt obligations, provide additional capital through a new equity rights offering, and best position NAC for future growth and success as global economic and industry conditions continue to improve.

The RSA contemplates a consensual and comprehensive restructuring of the Company's debt obligations with an infusion of $537 million in additional capital through a $337 million new equity rights offering and a new $200 million revolving credit facility.

NAC has obtained an additional $170 million debtor in possession financing facility from its existing creditors to help fund operations during the Chapter 11 process. The additional capital will serve to support the Company's liquidity position and its plans to pursue growth in purchasing aircraft.

About Ronald Page
Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond, Virginia. Ronald Page, PLC has extensive experience serving as local counsel and representing secured and unsecured creditors in bankruptcy proceedings. Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com/), if you need assistance protecting your interests in NAC's bankruptcy.

Contact Information
Ronald Page, PLC
http://rpagelaw.com
PO Box 73087
N. Chesterfield, VA 23235
(804) 562-8704
rpage@rpagelaw.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

N. Chesterfield, VA -- (ReleaseWire) -- 12/20/2021 -- Nordic Aviation Capital ("NAC"), the world's largest regional aircraft lessor and the sixth largest commercial aircraft lessor, has filed for bankruptcy seeking to restructure its debt under chapter 11 of the bankruptcy code. Bankruptcy petitions were filed by NAC and over 100 affiliated debtors. NAC and its affiliated debtors filed for bankruptcy protection on December 17, 2021 and December 19, 2021 in the Eastern District of Virginia, Richmond Division.

NAC announced that it has entered into a restructuring support agreement ("RSA") with over 73% of NAC's approximately $6.3 billion in debt obligations. The terms of the RSA establish the framework for a consensual and comprehensive financial restructuring that will restructure the Company's debt obligations, provide additional capital through a new equity rights offering, and best position NAC for future growth and success as global economic and industry conditions continue to improve.

The RSA contemplates a consensual and comprehensive restructuring of the Company's debt obligations with an infusion of $537 million in additional capital through a $337 million new equity rights offering and a new $200 million revolving credit facility.

NAC has obtained an additional $170 million debtor in possession financing facility from its existing creditors to help fund operations during the Chapter 11 process. The additional capital will serve to support the Company's liquidity position and its plans to pursue growth in purchasing aircraft.

NAC's has asked that its bankruptcy cases be jointly administered under its chapter 11 case identified as Nordic Aviation Capital Designated Activity Company, Case No. 21-33693. The bankruptcy case is to be presided over by Judge Kevin Huennekens. Proposed counsel for NAC are the law firms of Kirkland & Ellis LLP and Kutak Rock LLP. Epiq is proposed to serve as the noticing and claims agent.

The hearings on NAC's first day motions are scheduled for December 21st at 9:00 a.m. and will be conducted via Zoom in the virtual courtroom of Judge Huennekens.

Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond, Virginia. Ronald Page, PLC has extensive experience serving as local counsel and representing secured and unsecured creditors in bankruptcy proceedings. Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com/), if you need assistance protecting your interests in NAC's bankruptcy.

Contact Information
Ronald Page, PLC
http://rpagelaw.com
PO Box 73087
N. Chesterfield, VA 23235
(804) 562-8704

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Richmond, VA -- (ReleaseWire) -- 08/26/2020 -- The deadline for filing of proofs of claim against Ascena Retail Group, Inc., the owner of Ann Taylor and other clothing brands ("Ascena"), has been set for September 24, 2020 at 4:00 p.m. for each person or entity other than governmental units and January 19, 2021 at 4:00 p.m. for governmental units. Proofs of claim need to be filed for prepetition claims, including secured claims, unsecured priority claims, unsecured non-priority claims, and claims arising under section 503(b)(9) of the bankruptcy code against Ascena and its affiliated debtor entities.

Filing a proof of claim can be deceptively difficult and may require the assistance of an experienced attorney. In fact, an improperly filed or late filed proof of claim will cause a creditor to forfeit their bankruptcy claim. Prime Clerk LLC has been set as Ascena's noticing and claims agent. Completed proofs of claim forms can be sent to the following address:

Ascena Retail Group, Inc. Claims Processing Center
c/o Prime Clerk LLC
850 Third Avenue, Suite 412
Brooklyn, New York 11232

Ascena filed for bankruptcy on July 23, 2020 in the Eastern District of Virginia, Richmond Division. Ascena's bankruptcy cases are being jointly administered under its chapter 11 case identified as Chinos Holdings, Inc., case numbered 20-33113. Ascena's cases are pending before the Honorable Kevin Huennekens.

As part of its balance sheet restructuring, Ascena will reduce its footprint with the closure of a significant number of Justice stores and a select number of Ann Taylor, LOFT, Lane Bryant and Lou & Grey stores. This includes the exit of all stores across brands in Canada, Puerto Rico and Mexico and the closure of all Catherines stores.

Ascena has received commitments for $150 million in a new money term loan from its existing lenders. The new money term loan will be available during the pendency of the proceedings and will remain in place post emergence from Chapter 11.

Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond, Virginia. Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings. Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com/), if you need assistance protecting your interests in Ascena's bankruptcy.

Contact Information
Ronald Page, PLC
http://rpagelaw.com
P.O. Box 73087
N. Chesterfield, VA 23235
(804) 562-8704

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

N. Chesterfield, VA -- (ReleaseWire) -- 07/23/2020 -- Ascena Retail Group, Inc., the owner of Ann Taylor and other clothing brands ("Ascena"), has filed for bankruptcy seeking to restructure its debt under chapter 11 of the bankruptcy code as the retailer suffers amid flagging sales due to the COVID-19 pandemic. Bankruptcy petitions were filed by Ascena and 63 affiliated debtors. The COVID-19 pandemic sales slump only exacerbated Ascena's woes related to its heavy debt burden. Ascena filed for bankruptcy on July 23, 2020 in the Eastern District of Virginia, Richmond Division.

Ascena announced that it has entered into a restructuring support agreement ("RSA") with over 68% of its secured term lenders. The RSA contemplates agreed-upon terms for a pre-arranged financial restructuring plan (the "Plan") that is expected to significantly reduce Ascena's debt by approximately $1 billion and provide increased financial flexibility.

As part of the balance sheet restructuring contemplated by the RSA, Ascena will reduce its footprint with the closing of a significant number of Justice stores and a select number of Ann Taylor, LOFT, Lane Bryant and Lou & Grey stores. This includes the exit of all stores across brands in Canada, Puerto Rico and Mexico and the closure of all Catherines stores.

In addition, Ascena has entered into an asset purchase agreement with City Chic Collective Limited to sell the Catherines intellectual property assets and to transition its e-commerce business to a subsidiary of City Chic Collective.

Ascena has received commitments for $150 million in a new money term loan from its existing lenders. The new money term loan will be available during the pendency of the proceedings and will remain in place post emergence from Chapter 11.

Ascena's bankruptcy cases are being jointly administered under its chapter 11 case identified as Ascena Retail Group, Inc., case numbered 20-33113. Proposed counsel for Ascena are the law firms of Kirkland & Ellis LLP and Cooley LLP. Prime Clerk is proposed to serve as the noticing and claims agent.

Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond, Virginia. Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings. Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com/), if you need assistance protecting your interests in Ascena's bankruptcy.

Contact Information
Ronald Page, PLC
http://rpagelaw.com
PO Box 73087
N. Chesterfield, VA 23235
(804) 562-8704

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

N. Chesterfield, VA -- (ReleaseWire) -- 05/28/2020 -- LeClairRyan PLLC's liquidating trustee ("LeClairRyan") has sued approximately 40 entities and individuals for the turnover of funds (complaints to recover amounts due to LeClairRyan) and preference actions (complaints that creditors received preferential payments) in the U.S. Bankruptcy Court for the Eastern District of Virginia, Richmond Division, case no. 19-34574-KRH.

On September 3, 2019, LeClairRyan filed for bankruptcy relief under chapter 11. On September 12, 2019, the Office of the U.S. Trustee (the "UST") filed its motion to convert the chapter 11 bankruptcy of LeClairRyan to chapter 7. On September 26, 2019, it was decided that the bankruptcy case of LeClairRyan would be converted to liquidate under chapter 7 effective October 4, 2019. Lynn L. Tavenner of Tavenner & Beran, PLC was appointed the chapter 7 trustee.

Beginning on May 21, 2020 through May 26, 2020, LeClairRyan filed adversary complaints seeking to recover funds or avoid transfers against approximately 40 entities and individuals. It is anticipated that more complaints are to follow.

Lynn L. Tavenner is represented in the complaints by the law firms of Tavenner & Beran, PLC and Foley & Lardner LLP.

The Bankruptcy Code permits a liquidating trustee to recover preferential transfers made in the 90 days before the bankruptcy filing. Defenses need to be raised in an answer to a preference complaint. The burden of proof lies with the recipient of the transfer to establish that despite the elements of a preferential transfer, the transfer is protected by one or more defenses.

Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond. With offices in Richmond, Virginia, Ronald Page, PLC has extensive experience representing defendants in bankruptcy preference and turnover actions. Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com), if you need assistance protecting your interests in LeClairRyan's bankruptcy.

Contact Information
Ronald Page, PLC
http://rpagelaw.com
PO Box 73087
N. Chesterfield, VA 23235
(804) 562-8704

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

N. Chesterfield, VA -- (ReleaseWire) -- 05/15/2020 -- Intelsat, S.A. ("Intelsat") is seeking to restructure its debt under chapter 11 of the bankruptcy code as the world's second largest satellite operator seeks to ease its approximately $14.7 billion in debt and participate in the FCC's spectrum clearing program. Intelsat filed for bankruptcy on May 13, 2020 in the Eastern District of Virginia, Richmond Division.

Intelsat was granted court approval at its first day hearings held May 15, 2020 to use its approximately $461 million of cash on hand to fund its continued management, operations, and the preservation of its businesses. Intelsat will ultimately seek to fund their operations with a $1 billion debtor-in-possession credit facility.

Bankruptcy petitions were filed by affiliates of Intelsat including:
Intelsat Virginia Holdings LLC
Intelsat Connect Finance S.A.
Intelsat (Luxembourg) S.A.
Intelsat Envision Holdings LLC
Intelsat US LLC
Intelsat Investment Holdings S.A.R.L.
Intelsat Holdings S.A.
Intelsat Investments S.A.
Intelsat UK Financial Services Ltd.
Intelsat Jackson Holdings S.A.
Intelsat Align S.A.R.L.
Intelsat License Holdings LLC
Intelsat Subsidiary (Gibraltar) Limited
Intelsat Holdings LLC
Intelsat Finance Bermuda Ltd.
Intelsat Satellite LLC
Intelsat License LLC
Intelsat Ventures S.A R.L.
Intelsat Global Sales & Marketing Ltd.
Intelsat International Systems LLC
PanAmSat International Holdings LLC
Intelsat International Employment LLC
PanAmSat Europe Corporation
Intelsat Genesis GP LLC
Intelsat Service and Equipment LLC
Southern Satellite LLC
Southern Satellite Licensee LLC
PanAmSat International Sales LLC
Intelsat Genesis Inc.
Intelsat Alliance LP
Intelsat US Finance LLC
PanAmSat India LLC
PanAmSat India Marketing L.L.C.
Intelsat Asia Carrier Services LLC

Intelsat's bankruptcy cases are being jointly administered under its chapter 11 case identified as Intelsat, S.A., case numbered 20-32299. Proposed counsel for Intelsat are the law firms of Kirkland & Ellis LLP and Kutak Rock LLP. Stretto is serving as the noticing and claims agent.

Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond, Virginia. Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings. Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com/), if you need assistance protecting your interests in Intelsat's bankruptcy.

Contact Information
Ronald Page, PLC
http://rpagelaw.com
PO Box 73087
N. Chesterfield, VA 23235
(804) 562-8704

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Chesterfield, VA -- (ReleaseWire) -- 05/13/2020 -- J. Crew Group Inc. ("J. Crew") is seeking to restructure its debt under chapter 11 of the bankruptcy code as the retailer suffers amid flagging sales due to the corona pandemic. The pandemic sales slump only exacerbated J. Crew's woes related to its heavy debt burden.

J. Crew filed for bankruptcy on May 4, 2020 in the Eastern District of Virginia, Richmond Division. J. Crew's bankruptcy cases are being jointly administered under its chapter 11 case identified as Chinos Holdings, Inc., case numbered 20-32181. J. Crew's cases are pending before the Honorable Keith Phillips.

The deadline for the filing of proofs of claim against J. Crew has yet to be established by the bankruptcy court. Filing a proof of claim can be deceptively difficult and may require the assistance of an experienced attorney. In fact, an improperly filed or late filed proof of claim will cause a creditor to forfeit their bankruptcy claim. Omni Agent Solutions has been set as J. Crew's noticing and claims agent. Should you choose to file a proof of claim form now, completed forms can be sent to the following address:

Chinos Holdings, Inc. Claims Processing
c/o Omni Agent Solutions
5955 De Soto Ave., Suite 100
Woodland Hills, CA 91367

J. Crew operated 182 J. Crew-branded stores, 140 Madewell stores and 170 factory stores as of March 2, 2020.

Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond, Virginia. Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings. Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com/), if you need assistance protecting your interests in J. Crew's bankruptcy.

Contact Information
Ronald Page, PLC
http://rpagelaw.com
P.O. Box 73087
N. Chesterfield, VA 23235
(804) 562-8704

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Richmond, VA -- (ReleaseWire) -- 05/04/2020 -- J. Crew Group Inc. ("J. Crew") is seeking to restructure its debt under chapter 11 of the bankruptcy code as the retailer suffers amid flagging sales due to the corona pandemic. The pandemic sales slump only exacerbated J. Crew's woes related to its heavy debt burden. J. Crew filed for bankruptcy on May 4, 2020 in the Eastern District of Virginia, Richmond Division.

Lenders led by Anchorage Capital Group, Blackstone Group Inc.'s GSO Capital Partners and Davidson Kempner Capital Management are providing $400 million of financing to maintain operations during the Chapter 11 restructuring.

J. Crew operated 182 J. Crew-branded stores, 140 Madewell stores and 170 factory stores as of March 2, 2020.

Bankruptcy petitions were filed by affiliates of J. Crew including:

J. Crew Virginia, Inc.
Chinos Holdings, Inc.
Chinos Intermediate Holdings A, Inc.
Chinos Intermediate, Inc.
Chinos Intermediate Holdings B, Inc.
J. Crew Group, Inc.
J. Crew Operating Corp.
Grace Holmes, Inc.
H.F.D. No. 55, Inc.
J. Crew, Inc.
J. Crew International, Inc.
Madewell Inc.
J. Crew Brand Holdings, LLC
J. Crew Brand Intermediate, LLC
J. Crew Brand, LLC
J. Crew Brand Corp.
J. Crew Domestic Brand, LLC
J. Crew International Brand, LLC

J. Crew's bankruptcy cases are being jointly administered under its chapter 11 case identified as Chinos Holdings, Inc., case numbered 20-32181. Proposed counsel for J. Crew are the law firms of Weil, Gotshal & Manges LLP and Hunton Andrew Kurth LLP. Omni Agent Solutions, Inc. is serving as the noticing and claims agent.

Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond, Virginia. Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings. Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com/), if you need assistance protecting your interests in J. Crew's bankruptcy.

Contact Information
Ronald Page, PLC
http://rpagelaw.com
PO Box 73087
N. Chesterfield, VA 23235
(804) 562-8704

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Chesterfield, VA -- (ReleaseWire) -- 02/19/2020 -- Pier 1 Imports, Inc. ("Pier 1") is seeking to sell itself as a going concern under chapter 11 of the bankruptcy code as the retailer suffers from increasing pressures from online competitors and failed sales strategies implemented chain wide.

Pier 1's bankruptcy case is being jointly administered under its chapter 11 case numbered 20-30805-KRH. The bankruptcy case is being presided over by Judge Kevin Huennekens. Proposed counsel for Pier 1 is the law firm of Kirkland & Ellis LLP.

The hearings on Pier 1's first day motions were held on February 18 at 2 p.m. in the courtroom of Judge Huennekens located in the U.S. Bankruptcy Court, U. S. Courthouse, 701 E. Broad St., Room 5000, Richmond, VA 23219.

At the first day hearings, Pier 1 painted a picture of stagnation and decline, with the only bright spot being an expedited chapter 11 process expected to be completed in 90 days. Pier 1 plans to use the chapter 11 process to close 450 stores (including all of its stores in Canada), leaving the chain with 540 remaining stores.

The Pier 1 chapter 11 bankruptcy is to be conducted on an expedited basis on the following timeline:

March 23, the bid deadline to purchase the assets of Pier 1 as a going concern
March 31, the auction for the sale of Pier 1
April 23, the confirmation hearing for the Pier 1 chapter 11 plan
May 15, the effective date for the Pier 1 chapter 11 plan

Pier 1 is hopeful that an expedited chapter 11 bankruptcy will help control administrative costs at the same time as maximizing the return for Pier 1's stakeholders.

Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond,
With offices in Richmond, Virginia, Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings. Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com/), if you need assistance protecting your interests in Pier 1's bankruptcy.

Contact Information
Ronald Page, PLC
http://rpagelaw.com
PO Box 73524
N. Chesterfield, VA 23235
(804) 562-8704

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Richmond, VA -- (ReleaseWire) -- 09/27/2019 -- On September 26, 2019, it was decided that the bankruptcy case of former law firm LeClairRyan PLLC ("LeClairRyan") would be converted to liquidate under chapter 7 effective October 4, 2019 at 12 p.m. and that a chapter 7 trustee would be appointed. LeClairRyan, ABL Alliance LLLP (LeClairRyan's secured lender), and the Office of the U.S. Trustee (the "UST") all agreed that the case should be converted to chapter 7. However, they disagreed as to if the conversion should be immediate or delayed until October 4th.

The UST's representative, Robert Van Arsdale, argued that the conversion should be immediate. LeClairRyan's counsel, Tyler Brown with the law firm of Hunton Andrews Kurth LLP, argued that the Court should defer to the debtor's business judgment and that the UST had put on no evidence to establish cause for the conversion. Judge Kevin Huennekens deferred to the business judgment of LeClairRyan and ordered the conversion as of October 4th. Judge Huennekens commented that there was no hint of anything improper going on in the case, otherwise a conversion would have been ordered effective immediately. He further commented that the case was always destined for chapter 7 and that it was only a question of when and how to make a smooth transition.

On September 3, 2019, LeClairRyan filed a petition under chapter 11 of the bankruptcy code following its cessation of operations in August 2019. LeClairRyan had struggled following an exodus of partners in recent years.

On September 12, 2019, the UST filed its motion to convert the chapter 11 bankruptcy of LeClairRyan to chapter 7. The UST argued that LeClairRyan continuing as a liquidating chapter 11 bankruptcy was going to increase the burden of fees that will ultimately reduce the recovery to unsecured creditors.

LeClairRyan's primary asset is its accounts receivable in the approximate amount of $20 million. According to its approved interim budget, LeClairRyan was to collect a total of $4,425,000 in cash receipts during the first four weeks of the case, with $1,306,000.00 collected the week ending September 6, 2019. Upon information received by the UST, the report for the first week shows that the projected collections are significantly lower than what had been projected by over 40 percent. While the fee collections have not been coming in at the rate originally expected, the operating expenses continue at approximately $228,000.00 a week (or $910,000 during the first four weeks).

Upon conversion, LeClairRyan's case will be overseen by a chapter 7 trustee. The trustee will be appointed randomly from the panel of chapter 7 trustees.

About Ronald Page
Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond. With offices in Richmond, Virginia, Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings. Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com), if you need assistance protecting your interests in LeClairRyan's bankruptcy.

Contact Information
Ronald Page, PLC
http://rpagelaw.com
PO Box 73524
N. Chesterfield, VA 23235
(804) 562-8704

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Richmond, VA -- (ReleaseWire) -- 09/16/2019 -- On September 12, 2019, the Office of the U.S. Trustee (the "UST") filed its motion to convert the chapter 11 bankruptcy of LeClairRyan PLLC ("LeClairRyan") to chapter 7. This motion is set for hearing on September 26, 2019 at 2 p.m. in the courtroom of Judge Kevin Huennekens. The UST argues that LeClairRyan continuing as a liquidating chapter 11 bankruptcy is going to increase the burden of fees that will ultimately reduce the recovery to unsecured creditors.

On September 3, 2019, LeClairRyan filed a petition under chapter 11 of the bankruptcy code following its cessation of operations in August 2019. LeClairRyan had struggled following an exodus of partners in recent years. LeClairRyan's bankruptcy case is numbered 19-34574- KRH. Proposed counsel for LeClairRyan is the law firm of Hunton Andrews Kurth LLP.

LeClairRyan's primary asset is its accounts receivable in the approximate amount of $20 million. According to its approved interim budget, LeClairRyan was to collect a total of $4,425,000 in cash receipts during the first four weeks of the case, with $1,306,000.00 collected the week ending September 6, 2019. Upon information received by the UST, the report for the first week shows that the projected collections are significantly lower than what had been projected by over 40 percent. While the fee collections have not been coming in at the rate originally expected, the operating expenses continue at approximately $228,000.00 a week (or $910,000 during the first four weeks).

To date, the UST has yet to form a committee of unsecured creditors in LeClairRyan's case. These committees hire professionals, including attorneys and financial advisors, to advise them and to help maximize the recovery for unsecured creditors. Their professional fees are administrative expenses that are paid by the debtor's bankruptcy estate. Appointment of such committees is an expensive, but necessary, component of any large chapter 11 bankruptcy. However, such committees are not appointed in chapter 7 bankruptcies as their duties are provided by the chapter 7 trustee.

Given the hemorrhage of cash in this case, the UST seeks conversion of the case and to have a chapter 7 trustee appointed to orderly winddown LeClairRyan's affairs.

About Ronald Page
Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond,
With offices in Richmond, Virginia, Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings. Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com), if you need assistance protecting your interests in LeClairRyan's bankruptcy.

Contact Information
Ronald Page, PLC
http://rpagelaw.com
PO Box 73524
N. Chesterfield, VA 23235
(804) 562-8704

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Richmond, VA -- (ReleaseWire) -- 09/04/2019 -- LeClairRyan PLLC ("LeClairRyan") is seeking to liquidate under chapter 11 of the bankruptcy code as the struggling law firm ceased operations in August 2019. LeClairRyan has struggled following an exodus of partners in recent years. Ronald Page appeared at the hearings on LeClairRyan's first day motions noted below.

LeClairRyan's bankruptcy case is numbered 19-34574- KRH. The bankruptcy case is being presided over by Judge Kevin Huennekens. Proposed counsel for LeClairRyan is the law firm of Hunton Andrews Kurth LLP.

The hearings on LeClairRyan's first day motions were held on September 3rd at 1:00 p.m. in the courtroom of Judge Phillips, substituting for Judge Huennekens, located in the U.S. Bankruptcy Court, U. S. Courthouse, 701 E. Broad St., Room 5000, Richmond, VA 23219.

At the first day hearings, LeClairRyan painted a picture of its decline. Nonetheless, LeClairRyan comes into bankruptcy with a plan for an orderly liquidation intended to maximize value for all its stakeholders. As part of the winddown, LeClairRyan's 26 offices will be shuttered by the end of September.

LeClairRyan's primary asset is its accounts receivable in the approximate amount of $20 million. The claims of its secured lenders and its unsecured creditors dwarf LeClairRyan's assets.

Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond,
With offices in Richmond, Virginia, Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings. Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com/), if you need assistance protecting your interests in LeClairRyan's bankruptcy.

Contact Information
Ronald Page, PLC
http://rpagelaw.com
PO Box 73524
N. Chesterfield, VA 23235
(804) 562-8704

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Richmond, VA -- (ReleaseWire) -- 01/18/2019 -- The Gymboree Group ("Gymboree") is seeking to liquidate under chapter 11 of the bankruptcy code as the retailer filed bankruptcy for the second time in two years. Gymboree, except for its Janie and Jack business, has failed to recover following its emergence from bankruptcy in 2017.

Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond, Virginia available to represent creditors of Gymboree 's bankruptcy.

Gymboree intends to use these proceedings to facilitate an orderly wind-down of all of its Gymboree and Crazy 8 store locations and operations, while continuing to pursue a going-concern sale of its Janie and Jack business and a sale of the intellectual property and online platform for Gymboree.

Bankruptcy petitions were also filed by affiliates of Gymboree including:

19-30258 Gymboree Group, Inc.
19-30252 Gymboree Intermediate Corporation
19-30257 Gymboree Holding Corporation
19-30253 Gymboree Wholesale, Inc.
19-30254 Gym-Mark, Inc.
19-30255 Gymboree Operations, Inc.
19-30250 Gymboree Distribution, Inc.
19-30256 Gymboree Manufacturing, Inc.
19-30249 Gymboree Retail Stores, LLC
19-30248 Gym-Card, LLC
19-30251 Gymboree Island, LLC

Gymboree seeks to have cases jointly administered under its chapter 11 case numbered 19-30258-KLP. The bankruptcy case is being presided over by Judge Keith Phillips. Proposed counsel for Gymboree is the law firm of Milbank, Tweed, Hadley & McCloy LLP.

The hearings on Gymboree's first day motions are scheduled for January 17 at 11:00 a.m. in the courtroom of Judge Phillips located in the U.S. Bankruptcy Court, U. S. Courthouse, 701 E. Broad St., Room 5100, Richmond, VA 23219.

With offices in Richmond, Virginia, Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings. Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com), if you need assistance protecting your interests in Gymboree's bankruptcy.

Contact Information
Ronald Page, PLC
http://rpagelaw.com
PO Box 73524
N. Chesterfield, VA 23235
(804) 562-8704

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Richmond, VA -- (ReleaseWire) -- 09/20/2017 -- Toys "R" Us, Inc. ("Toys R Us") filed for protection under chapter 11 of the Bankruptcy Code in Richmond, Virginia on September 18, 2017 as the toy retailer struggled to reorganize its debt in the face of mounting pressure from online retailers. Hearings on the Toys R Us first day motions were held on September 19, 2017 at 11:00 a.m. in the courtroom of Judge Keith Phillips located in the U.S. Bankruptcy Court, 701 E. Broad St., Room 5100, Richmond, VA 23219.

Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond, Virginia available to represent creditors of the Toys R Us bankruptcy.

The first day motions of Toy R Us covered many issues, detailed below, but they did not address which of the Toy R Us locations would remain open. An integral part of any retail bankruptcy is the rejection of the leases of underperforming locations. At this point, it is unknown which locations will remain open and which will close.

Following the first day hearings, the Bankruptcy Court entered Orders to give Toy R Us the follow interim authorization:

To continue to operate their cash management system;
To pay prepetition wages, salaries, other compensation, and expenses to employees;
To pay prepetition claims of lien claimants, import claimants, and 503(b)(9) claimants;
To pay prepetition claims of foreign vendors; and
To pay certain prepetition claims of critical vendors.

Additionally, the Bankruptcy Court ordered that the following related bankruptcy cases would be jointly administered under case numbered 17-34665-KLP:

17-34665 Toys "R" Us, Inc.
17-34660 Geoffrey Holdings, LLC
17-34666 Geoffrey International, LLC
17-34667 Geoffrey, LLC
17-34661 Giraffe Holdings, LLC
17-34662 Giraffe Junior Holdings, LLC
17-34663 MAP 2005 Real Estate, LLC
17-34664 Toys "R" Us - Value, Inc.
17-34668 Toys R Us (Canada) Ltd./Toys R Us (Canada) Ltee
17-34669 Toys "R" Us - Delaware Inc.
17-34672 Toys Acquisition, LLC
17-34671 Toys "R" Us Property Company II, LLC
17-34674 TRU Guam, LLC
17-34676 TRU of Puerto Rico, Inc.
17-34677 TRU Taj (Europe) Holdings, LLC
17-34678 TRU Taj Finance, Inc.
17-34679 TRU Taj Holdings 1, LLC
17-34680 TRU Taj Holdings 2 Limited
17-34681 TRU Taj Holdings 3, LLC
17-34682 TRU Taj LLC
17-34659 TRU-SVC, Inc.
17-34683 Wayne Real Estate Parent Company, LLC
17-34673 TRU Asia, LLC
17-34675 TRU Mobility, LLC
17-34670 Toys "R" Us Europe, LLC

About Ronald Page, PLC
With offices in Richmond, Virginia, Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings.

Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com), if you need assistance protecting your interests in the Toys R Us bankruptcy.

Contact Information:
Ronald Page, PLC
Ronald A. Page, Jr.
http://rpagelaw.com
PO Box 73524 Richmond, VA 23235
Ph: 804-562-8704
E-Mail: rpage@rpagelaw.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Richmond, VA -- (ReleaseWire) -- 09/19/2017 -- Toys "R" Us, Inc. ("Toys R Us") filed for protection under chapter 11 of the Bankruptcy Code in Richmond, Virginia as the toy retailer struggled to reorganize its debt.

Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond, Virginia available to represent creditors of the Toys R Us bankruptcy.

Bankruptcy petitions were also filed by affiliates of Toys R Us including:

17-34665 Toys "R" Us, Inc.
17-34660 Geoffrey Holdings, LLC
17-34666 Geoffrey International, LLC
17-34667 Geoffrey, LLC
17-34661 Giraffe Holdings, LLC
17-34662 Giraffe Junior Holdings, LLC
17-34663 MAP 2005 Real Estate, LLC
17-34664 Toys "R" Us - Value, Inc.
17-34668 Toys R Us (Canada) Ltd./Toys R Us (Canada) Ltee
17-34669 Toys "R" Us - Delaware Inc.
17-34672 Toys Acquisition, LLC
17-34671 Toys "R" Us Property Company II, LLC
17-34674 TRU Guam, LLC
17-34676 TRU of Puerto Rico, Inc.
17-34677 TRU Taj (Europe) Holdings, LLC
17-34678 TRU Taj Finance, Inc.
17-34679 TRU Taj Holdings 1, LLC
17-34680 TRU Taj Holdings 2 Limited
17-34681 TRU Taj Holdings 3, LLC
17-34682 TRU Taj LLC
17-34659 TRU-SVC, Inc.
17-34683 Wayne Real Estate Parent Company, LLC
17-34673 TRU Asia, LLC
17-34675 TRU Mobility, LLC
17-34670 Toys "R" Us Europe, LLC

Toys R Us seeks these cases to be jointly administered under its chapter 11 case numbered 17-34665-KLP. The bankruptcy case is to be presided over by Judge Keith Phillips. Proposed counsel for Toys R Us is the law firm of Kirkland & Ellis LLP.

The hearings on the Toys R Us first day motions are scheduled for September 19, 2017 at 11:00 a.m. in the courtroom of Judge Phillips located in the U.S. Bankruptcy Court, U. S. Courthouse, 701 E. Broad St., Room 5100, Richmond, VA 23219.

About Ronald Page, PLC
With offices in Richmond, Virginia, Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings.

Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com/), if you need assistance protecting your interests in the Toys R Us bankruptcy.

Contact Information:
Ronald Page, PLC
http://rpagelaw.com
PO Box 73524 Richmond, VA 23235
804-562-8704

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Gymboree Proofs of Claims to be filed by August 4, 2017

Richmond, VA -- (ReleaseWire) -- 06/22/2017 -- The Gymboree Corporation ("Gymboree") filed a motion to set deadlines for the filing of proofs of claim in its bankruptcy cases. Gymboree requests that the Bankruptcy Court establish August 4, 2017, at 5:00 p.m.,prevailing Eastern Time, as the last date and time for each entity (including individuals, partnerships, corporations, joint ventures, and trusts) to file proofs of claim based on pre-petition claims, including requests for payment under section 503(b)(9) of the Bankruptcy Code. Further, Gymboree requests that the Bankruptcy Court establish December 8, 2017, at 5:00 p.m., prevailing Eastern Time, as the last date and time for any governmental unit to file Proofs of Claim against Gymboree. The hearing on the motion to set deadlines for the filing of proofs of claim is set for July 11, 2017 at 1 p.m.

On June 11, 2017, Gymboree and its wholly-owned subsidiaries filed voluntary petitions for restructuring under Chapter 11 of the United States Bankruptcy Code in the Bankruptcy Court for the Eastern District of Virginia, in Richmond, Virginia. Gymboree's cases are pending before the Honorable Keith Phillips and are jointly administered under Case No. 17-32986. On June 16, 2017, Gymboree filed its Joint Chapter 11 Plan of Reorganization and its Disclosure Statement, less than one week after filing for bankruptcy protection.

Filing a proof of claim can be deceptively difficult and may require the assistance of an experienced attorney. In fact, an improperly filed or late filed proof of claim may cause a creditor to forfeit their bankruptcy claim. Prime Clerk LLC has been set as Gymboree's noticing and claims agent.

The Gymboree Corporation Claims Processing Center
c/o Prime Clerk LLC
830 3rd Avenue, 3rd Floor
New York, NY 10022

With offices in Richmond, Virginia, Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings. Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney, if you need assistance protecting your interests in Gymboree's bankruptcy.

Contact Information
Ronald Page, PLC
http://rpagelaw.com
PO Box 73524
Richmond, VA 23235
804-562-8704
rpage@rpagelaw.com

The information contained at this site is offered for informational purposes only and is not legal advice. You should not act upon the information without seeking professional counsel. Accessing this site or the use of information appearing on this site shall not create an attorney-client relationship. Communicating with Ronald Page, PLC through this website by email or otherwise does not create an attorney-client relationship for any legal matter for which we do not already represent you.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Richmond, VA -- (ReleaseWire) -- 06/19/2017 -- On June 11, 2017, the Gymboree Corporation ("Gymboree") filed for protection under chapter 11 of the Bankruptcy Code as the retailer struggled to reorganize its debt. Gymboree 's bankruptcy petition indicated that it has 1,000 to 5,000 creditors, assets estimated at $756 million, and liabilities estimated at $1.36 billion. On June 16, 2017, Gymboree filed its Joint Chapter 11 Plan of Reorganization and its Disclosure Statement, less than one week after filing for bankruptcy protection. The Plan proposes no distribution to unsecured creditors.

Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond, Virginia available to represent creditors of Gymboree 's bankruptcy.

The hearing on the adequacy of Gymboree's Disclosure Statement is scheduled for July 24, 2017 in the courtroom of Judge Phillips located in the U.S. Bankruptcy Court, U.S. Courthouse, 701 E. Broad St., Room 5100, Richmond, VA 23219.

Upon approval of its Disclosure Statement, Gymboree can schedule a confirmation hearing for its Chapter 11 Plan. If confirmed, Gymboree's Chapter 11 Plan would govern the rights and responsibilities of Gymboree's creditors. As proposed, Gymboree's Chapter 11 Plan would pay nothing to its unsecured creditors.

About Ronald Page, PLC
With offices in Richmond, Virginia, Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings. Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com/), if you need assistance protecting your interests in Gymboree's bankruptcy.

Contact Information
Ronald Page, PLC
http://rpagelaw.com
PO Box 73524 Richmond, VA 23235
rpage@rpagelaw.com
804-562-8704

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Richmond, VA -- (ReleaseWire) -- 06/13/2017 -- The Gymboree Corporation ("Gymboree") filed for protection under chapter 11 of the Bankruptcy Code as the retailer struggled to reorganize its debt. Gymboree 's bankruptcy petition indicated that it has 1,000 to 5,000 creditors, assets estimated at $756 million, and liabilities estimated at $1.36 billion.

Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond, Virginia available to represent creditors of Gymboree 's bankruptcy.

Bankruptcy petitions were also filed by affiliates of Gymboree including:

17-32986 The Gymboree Corporation
17-32987 Giraffe Intermediate B, Inc.
17-32985 Gym-Card, LLC
17-32990 Gymboree Retail Stores, Inc.
17-32989 Gymboree Manufacturing Inc.
17-32991 Gymboree Operations, Inc.
17-32992 S.C.C. Wholesale, Inc.
17-32988 Gym-Mark, Inc.

Gymboree seeks these cases jointly administered under its chapter 11 case numbered 17-32986-KLP. The bankruptcy case is to be presided over by Judge Keith Phillips. Proposed counsel for Gymboree is the law firm of Kirkland & Ellis LLP.

The hearings on Gymboree's first day motions are scheduled for May 12th at 10:00 a.m. in the courtroom of Judge Phillips located in the U.S. Bankruptcy Court, U. S. Courthouse, 701 E. Broad St., Room 5100, Richmond, VA 23219.

About Ronald Page, PLC
With offices in Richmond, Virginia, Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings. Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com/), if you need assistance protecting your interests in Gymboree's bankruptcy.

Contact Information
Ronald Page, PLC
http://rpagelaw.com
PO Box 73524
Richmond, VA 23235
804-562-8704

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Richmond, VA -- (ReleaseWire) -- 04/07/2017 -- Health Diagnostic Laboratory, Inc.'s liquidating trustee ("HDL") has brought actions in the U.S. Bankruptcy Court for the Eastern District of Virginia, Richmond Division, Case No. 15-32919-KRH, against HDL's vendors, suppliers, and other partners, including a number of charities, to recover transfers.

Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond, Virginia available to represent creditors of HDL's bankruptcy.

In the last 10 days, HDL filed adversary complaints seeking to recover transfers against the following entities:

Bon Secours Richmond Health Care Foundation
VTV Family Outreach Foundation, Inc.
Texas Conservative Coalition Research Institute
Richmond Raiders, LLC
Rally Foundation, Inc.
Mid-Atlantic Bio Coalition Inc.
Health Science Media, Inc.
Connor's Heroes Foundation
Bon Secours Richmond Health Care Foundation
Avail Marketing, LLC
Art 180, Inc.
Age Management Medicine Group
ACG Richmond, Inc.
The Virginia Biotechnology Association
Utah Foundation for Biomedical Research
The Familial Hypercholesterolemia Foundation
Richmond Kickers Youth Soccer Club, Inc.
The Richmond Ballet
Preventative Cardiovascular Nurses Association, Inc.
Patient Centered Primary Care Collaborative
National Football League Alumni, Inc.
Middle School Renaissance 2020, LLC
The Maggie L. Walker Governor's School
Hospital Hospitality House of Richmond, Inc.
Greater Richmond Aquatics Partnership
Children's Hospital & Research Center at Oakland
Benedictine High School of Richmond, Inc.
American Diabetes Association
American Cancer Society Cancer Action Network, Inc

The Bankruptcy Code permits a liquidating trustee to recover alleged fraudulent transfers made in the year before the bankruptcy filing. Defenses need to be raised in an answer to a alleged fraudulent conveyance complaint. The burden of proof lies with the recipient of the transfer to establish that despite the elements of a fraudulent conveyance, the transfer is protected by one or more defenses.

About Ronald Page, PLC
With offices in Richmond, Virginia, Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings.

Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com), if you need assistance protecting your interests in HDL's bankruptcy.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Richmond, VA -- (ReleaseWire) -- 07/28/2016 -- Health Diagnostic Laboratory, Inc.'s liquidating trustee ("HDL") has brought avoidance actions against HDL's vendors, suppliers, and other partners to recover payments made in the 90 days before it filed bankruptcy on June 7, 2015. This is common practice in a large liquidating bankruptcy case, as creditors and vendors are often sued by debtors to avoid "preferential payments".

Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond, Virginia available to represent creditors of HDL's bankruptcy.

On July 26-27, 2016, HDL filed adversary complaints seeking the recovery of funds against the following entities:

Neopost USA, Inc. dba Hasler
Colorado Department of Revenue
Virginia Electric and Power Company dba Dominion Virginia Power
Amazon.com LLC
Bon Secours - Richmond Health System
D & J Development, Inc.
MD Logic, Inc.
Pinnacle Mobile Phlebotomy, LLC
Rocktech, LLC
Sunnie Harmon & John Deworken LLC dba The Sunnie & Deworken Group
Sekisui Diagnostics, LLC
USA Scientific, Inc.
The Marlin Company
Vision Service Plan
International Paper Company dba Xpedx
BIO-RAD LABORATORIES, INC. d/b/a BIO-RAD
CLINICAL PATHOLOGY LABORATORIES, INC.
CINTAS CORPORATION
CAPFINANCIAL PARTNERS, LLC
EVOQUA WATER TECHNOLOGIES LLC
Douglas Scientific, LLC
AUTOMATIC DATA PROCESSING, INC d/b/a ADP SCREENING & SELECTION SERVICES, INC.
FLEETCOR TECHNOLOGIES, INC. d/b/a UNIVERSAL FLEETCARD
United Parcel Services, Inc. d/b/a UPS
Biotage, LLC
Discover Diagnostic Laboratory, LLC
Global Recruiters Network, Inc. dba D&I Global Solutions, Inc.
Huron Consulting Services, LLC
Iron Mountain Incorporated
James River Drywall LLC
Jennifer Marie Little
Kamiya Biomedical Company, LLC dba Kamiya Biomedical Company
Mobelux, LLC
R.R. Donnelley & Sons Company dba R R Donnelley
Richmond Express, Inc. dba Richmond Express Courier Service
Shimadzu Scientific Instruments, Inc. dba Shimadzu
Singulex, Inc.
The Allstate Corporation dba Allstate
Thomson Reuters (Tax & Accounting) Inc. dba Thomson Reuters Inc
Trustpoint Insurance, LLC

The Bankruptcy Code permits a debtor to recover from a creditor payments made in the 90 days before the bankruptcy filing where the payments gave the creditor more than other, similarly situated, creditors would get through the bankruptcy process. The preference statutes are an attempt to achieve equity between creditors. Nonetheless, creditors are almost always better off attempting to get payment of their claims from their debtors and dealing with any efforts to recover the money when, and if, such attempts are made in bankruptcy.

Defenses to the recovery of a preference are found in 11 U.S.C. 547(c). They include: contemporaneous exchanges; amounts of subsequent credit extended and unpaid; payments made in the ordinary course of the business of the debtor and the creditor on ordinary business terms; and security interests that secure debts that bring new value to the debtor.

These defenses need to be raised in an answer to a preference complaint. The burden of proof lies with the creditor to establish that despite the elements of a preference; the transfer is protected by one or more of these defenses.

About Ronald Page, PLC
With offices in Richmond, Virginia, Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings.

Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com), if you need assistance protecting your interests in HDL's bankruptcy.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Richmond, VA -- (ReleaseWire) -- 06/24/2016 -- Health Diagnostic Laboratory, Inc.'s liquidating trustee ("HDL") is bringing avoidance actions against HDL's vendors to recover payments made in the 90 days before it filed bankruptcy on June 7, 2015. This is common practice in a large liquidating bankruptcy case, as creditors and vendors are often sued by debtors to avoid preferential payments.

Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond, Virginia available to represent creditors of HDL's bankruptcy.

On June 22, 2016, HDL filed adversary complaints seeking the recovery of funds against the following entities:

Angel.com, Incorporated
Agilent Technologies, Inc.
EClinicalWorks, LLC
Douglas Scientific, LLC
Data Innovations, LLC
BrightIdea.com
Adobe Systems Incorporated
Bureau of National Affairs Tax Software
TimeTrade Systems, Inc.
Lexicomp
SAS Institute, Inc.
Star2Star Communications, LLC
Blood Spot
Staples Advantage
Aerotek, Inc.
HandCraft
Beckman Coulter, Inc.
Dynex Technologies, Inc.
Entec Systems, Inc.
AKA Enterprises, Inc.
CareerBuilder.com

The Bankruptcy Code permits a debtor to recover from a creditor payments made in the 90 days before the bankruptcy filing where the payments gave the creditor more than other, similarly situated, creditors would get through the bankruptcy process. The preference statutes are an attempt to achieve equity between creditors. Nonetheless, creditors are almost always better off attempting to get payment of their claims from their debtors and dealing with any efforts to recover the money when, and if, such attempts are made in bankruptcy.

Defenses to the recovery of a preference are found in 11 U.S.C. 547(c). They include: contemporaneous exchanges; amounts of subsequent credit extended and unpaid; payments made in the ordinary course of the business of the debtor and the creditor on ordinary business terms; and security interests that secure debts that bring new value to the debtor.

These defenses need to be raised in an answer to a preference complaint. The burden of proof lies with the creditor to establish that despite the elements of a preference; the transfer is protected by one or more of these defenses.

About Ronald Page, PLC
With offices in Richmond, Virginia, Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings.

Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com), if you need assistance protecting your interests in HDL's bankruptcy.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm