New Delaware Chapter 11 Filing – 220 Elm Street II, LLC (Related to Newbury Common Associates, LLC)
220 Elm Street II, LLC, which owns 50% of the real property at 220 Elm Street, New Canaan, Connecticut 06840, has commenced a case (Case No. 16-10653 (LSS)) under Chapter 11 of the Bankruptcy Code by filing a petition with the U.S. Bankruptcy Court for the District of Delaware. The Honorable Laurie Selber Silverstein will preside over the case. The debtor is related to Newbury Common Associates, LLC and its affiliates, which commenced their own cases on December 13 and 15, 2015 and February 3 and 4, 2016. Information on all these cases is available from our earlier blog posts (Post 1 and Post 2) and the claims agent’s website.
As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.
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