Misery Index: Week of August 21, 2017

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PacerMonitor’s look back at this week's most compelling bankruptcies

New York Brasserie Files 2nd

Bankruptcy Pleading This Year Artisanal 2015 LLC filed for bankruptcy again in the Southern District of New York, but this time the chapter 11 petition, signed by managing member Sarid Drory,  listed up to $50 million in liabilities compared to the $50,000 listed in the pleading filed by managing member Stephanie Schulman on March 9. The 2017 petitions come two years after a class-action suit was filed against affiliate Artisanal Fromagerie & Bistro LLC on behalf of servers, bussers, runners, bartenders and other tipped workers.

Texas Home Care Agency Sinks Amid Web of Lawsuits

Texas RHH LLC sought a reprieve from up to $10 million in liabilities in the Northern District of Texas. The chapter 11 petition was signed by Member Misty Brady, who was sued for alleged tax lien fraud in a June 30, 2017 federal lawsuit after filing a personal bankruptcy petition in March 2017. Affiliate BP Chaney filed for bankruptcy on July 3.

Read the Maxus Healthcare Partners, LLC v. Brady complaint here

Tower Contractor Crashes Under Tax Lawsuit

 H.C. Jeffries Tower Company Inc. sought protection from up to $10 million in liabilities in the Southern District of Texas. The petition was signed by President Herbert C. Jeffries, who also signed Ford Steel LLC’s bankruptcy pleading, claiming up to $50 million in liabilities. Montgomery County, Texas, sued both entities in 2015 over taxes. Creditors include the Montgomery County Tax Collector and the IRS.

 Louisiana Healthcare Chain Treats Failing Financial Health in Court

Antigua Investments LLC is seeking to escape up to $10 million in liabilities, of which $1,017,195.96 is owed to Cottonport Bank and $250,000.00 to the IRS. Filed in the Western District of Louisiana, the chapter 11 petition was signed by Member and Manager Thomas E Cupples II, who was named in a 2015 lawsuit for allegedly violating the Fair Labor Standards Act. Other bankruptcy petitions signed and filed by Mr. Cupples on August 22 include Quality Home Health, IncQuality Home Health I LLCHospice Care of Avoyelles Parish LLC and Serenity Homecare, LLCCentral Louisiana Home Healthcare, LLC and Cupples Holdings, LLC.

 Read the FLSA lawsuit here.

 New York Eatery Suffers 2nd Trip Into Bankruptcy

74 5th Avenue Market Corp, also known as Valent & Cook, sought a reprieve from up to $1 million in liabilities. President Byung Nak Lim signed the chapter 11 petition, which was filed in the Southern District of New York. After Valent & Cook at 57 Street Corp. first filed for bankruptcy in February 2015, Mr. Lim was sued in October 2016 over alleged unpaid overtime compensation by a former hourly employee.

Read the complaint against Mr. Lim here.

 Lender Litigation Rockets Aerospace Company into Bankruptcy

Citing problems with lenders that have lead to extensive time consuming and costly litigation, USAE LLC sought relief from up to $50 million in liabilities, of which a disputed $3,200,333.95 is owed to Bracewell, $2,925,000.00 to John C. Kirkland, ESQ and $1,300,000.00 to Wolf Haldenstein Adler Freeman & Herz. The chapter 11 petition was signed by Manager Robert Craig in the District of Delaware.

 Read Mr. Craig’s declaration here.

 California Shopping Plaza Shelves Development in Favor of Bankruptcy

Located at 12945-13225 Peyton Drive in the City of Chino Hills, CRCH LLC sought to abate up to $100 million in liabilities of which a $2,980,000.00 short-term loan is owed to Bank of Hope. Filed in the Central District of California, the chapter 11 petition was signed by CFO Lloyd Lee, who caused an outcry in 2016 after proposing an Asian themed shopping center, according to media reports.

Embattled Property Manager Follows Lawsuit with Bankruptcy

RenX Group II LLC sought shelter from up to $10 million in liabilities, of which a partially secured claim of $1,236,875.14 is owed to Deutsche Bank for Great Blue Lodge, a vacation camp property. The pleading, filed in the District of Oregon, was signed by manager Tracey Baron, who was sued in the U.S. District Court of Utah along with Turning Leaf Homes IV  and Turning Leaf Homes V, which filed for bankruptcy earlier this year after alleging that a Nationstar Mortgage judicial foreclosure was fraudulent. Mr. Baron, Turning Leaf Homes and RenX Group were named in an Oct. 2015 lawsuit due to profits, losses and expenses associated with various real estate projects.

Read about the Turning Leaf Homes v Nationstar Mortgage lawsuit here

Texas Computer Consultant On the Decline Financially in Bankruptcy

DataStarUSA Inc. is seeking a reprieve from creditors in the Eastern District of Texas. President Jon Marshall signed off on the petition, which listed up to $10 million in liabilities.

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