Coal Miner Seeks to Dig Out From Under Debt Mississippi Minerals Inc. along with affiliates Sebastian Leasing, Sebastian Management and Sebastian Mining LLC sought protection from up to $100 million, $10 million and $50 million in liabilities, respectively, in the Western District of Arkansas. The debtor owes $10 million to Export-Import Bank of India and $11.1 million to Punjab National Bank. The chapter 11 petition was signed by President Krishna Santhanam. Sebastian Mining was sued by EnerVest Operating LLC over property rights to coalbed methane gas produced in Sebastian County, Ark.
Chain of Nursing Homes Seeks Assist in Bankruptcy Preferred Care and 33 affiliates sought protection from up to $10 million in the Northern District of Texas. The chapter 11 petition was signed by bankruptcy manager Robert J. Riek. According to finance advisor Alan Weiner, the debtor is plagued by some 163 personal injury lawsuits lodged by law firm Wilkes & McHugh of Tampa, Florida.
Read the complaint that Chronoswiss filed against R&S Antiques here.
Motorsport Retailer Idles its Engines in Bankruptcy Court Performance Machine LLC and 18 affiliates sought protection from up to$500 million in liabilities in the District of Delaware. The chapter 11 petition was signed by CEO Andrew Graves. Some $3.4 million is owed to Sumitomo North America and $2.2 million to Pirelli Tire in trade payables. According to a statement online, the debtor filed for bankruptcy to eliminate $300 million in debt.