New Chapter 11 Filing - BICOM NY LLC

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  • 7/10/17 Recap: Manhattan based group of Jaguar, Maserati, Ford car dealerships filed for bankruptcy to trigger the automatic stay, prevent JPMorgan Chase from enforcing its rights as secured lender, and buy it more time to pursue a sale of the dealerships.  
  • Jurisdiction: S.D. of New York (Judge Wiles)
  • Capital Structure: $82mm debt (JPMorgan Chase Bank NA)    
  • Company Professionals:
    • Legal: Wilk Auslander LLP (Eric Snyder, Eloy Peral)
    • Financial Advisor/CRO: Carl Marks Advisory Group LLC (Steven Agran) 
    • Claims Agent: JND Corporate Restructuring (*click on company name above for free docket access)
  • Other Parties in Interest:
    • Prepetition & DIP Lender: JPMorgan Chase Bank NA
      • Legal: Sidley Austin LLP (Richard Fries, Andrew Propps, Kevin Lantry, Jeremy Rosenthal)