Rochelle on Southern Air, Metro Fuel, Carey Limousine: Audio
After a dearth of interesting new cases, Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle talk on their podcast about three new Chapter 11s filed last week. The largest was cargo airline Southern Air Holdings Inc., which suffered from the drawdown of U.S. troops stationed abroad. A New York fuel oil distributor named Metro Fuel Oil Corp. filed for reorganization in New York after overstating accounts receivable and having the bank loans cut off. Regarding the last new case, Carey Limousine L.A. Inc., Rochelle wonders whether the company will suffer the same fate as the Cordillera golf club in Colorado and have the reorganization tossed out of Delaware and sent home.
Running time 11:27