Free Speech, Due Process and Trial by Jury
Griddy Energy, a retail power supplier facing a slew of civil lawsuits as a result of charges from the February winter storm, says it has less than $10 million in assets but owes ERCOT, CenterPoint Energy and Oncor three times that amount.
The Austin-based movie theater chain — known as a pioneer for the dine-in-theater experience — is the latest indoor, consumer-oriented business to fall prey to the financial woes of the Covid-19 pandemic. Natalie Posgate details where the company filed and who from Texas has appeared in the case.
In the world of corporate bankruptcy and restructuring, they call it Chapter 22. For the second time in four years, Houston-based oil and gas exploration and drilling company Castex Energy has filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the Southern District of Texas.
Last week, Brazos Electric Power Cooperative got a $2 billion bill from ERCOT demanding payment for power supplied during the winter storm that hit Texas two weeks ago. Early this morning, Brazos, the largest generation and transmission cooperative in Texas, filed for Chapter 11 bankruptcy protection in the Southern District of Texas citing more than $3 billion in debts.
A federal judge in Houston is considering whether to take over an explosive adversary proceeding currently in U.S. Bankruptcy Judge Marvin Isgur’s court that may result in Isgur calling the U.S. Attorney’s Office on one of the parties.
With a large amount of unsecured creditors who hail from Dubai and Saudi Arabia, Asia Offshore Drilling says it's looking to clear between $100 million and $500 million in debt.
Neiman Marcus filed for bankruptcy on May 7. Eight days later, J.C. Penney petitioned for Chapter 11 bankruptcy protection. Even before they filed, the two DFW retailers had paid legal and financial advisors $30 million to prepare the case. And those fees were only the start. The Texas Lawbook has details.
The Irving-based pizza chain filed for bankruptcy after more than a decade of gradual decline and the effects of the Covid-19 pandemic, it said in court records.
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