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Hotel and Hospitality Industry Update

Posted on14. Jun, 2011 by admin.

As a follow-up to Hamernik’s 2010 blog regarding the Hotel and Hospitality Industry, here are a few worthy nuggets gleaned from Hamernik’s continuing experience working with numerous clients and over 20 different hotel assets spread throughout the Midwest:
Financing sources for hotels are currently non-existent.Â
As part of restructuring efforts for our limited-service hotel clients, Hamernik [...]

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Bankruptcy filings ease slightly in Indiana

Posted on04. Mar, 2011 by admin2.

Source and permission granted by:  Indiana Business Journal (www.ibj.com) - February 28, 2011
Bankruptcy filings in Indiana dipped slightly in 2010—the first decline in four years—and showed a late-year slowdown that may indicate consumers are starting to manage their finances better.
Filings in the Southern District of Indiana, which encompasses Indianapolis and the surrounding counties, totaled 28,901 last [...]

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2010 Bankruptcies in Review

Posted on24. Jan, 2011 by admin2.

Recently published on BankruptcyData.com were the Top 20 bankruptcies of 2010.  The pre-petition assets amounted over 73 billion and included Banking/Financial, Real Estate, Retail, Entertainment, Marketing/Advertising, Satellite and Airfreight Services.  Of the 20 companies, the top five filings consisted of pre-petition assets amounting to over 45 billion within the financial and real estate industries, respectively.  [...]

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Number of Public Companies Filing for Chapter 11 or Chapter 7

Posted on19. Nov, 2010 by admin2.

Bankruptcy Almanac

 

Year
Filings 1/1-11/7
Â
Assets* of Filings 1/1-11/7
Total Number of Filings
Total Pre-Petition Assets*

2000
Â
141
Â
Â
$71,202
Â
179
Â
$98,763

2001
Â
224
Â
Â
$175,131
Â
263
Â
$257,437

2002
Â
192
Â
Â
$286,794
Â
220
Â
$394,782

2003
Â
162
Â
Â
$94,758
Â
172
Â
$97,997

2004
Â
82
Â
Â
$30,887
Â
92
Â
$47,677

2005
Â
84
Â
Â
$106,612
Â
86
Â
$133,843

2006
Â
53
Â
Â
$21,111
Â
66
Â
$22,104

2007
Â
61
Â
Â
$62,690
Â
78
Â
$70,525

2008
Â
104
Â
Â
$1,106,055
Â
138
Â
$1,159,351

2009
Â
185
Â
Â
$554,620
Â
210
Â
$593,277

2010
Â
86
Â
Â
$66,837
Â
Â
Â
 

*Assets in $milsÂ
Â
Â
Â
Â
Â
Â
 

Source:  Bankruptcydata.com November 2010

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Hamernik Appointed Sole Manager.

Posted on23. Aug, 2010 by admin2.

8/13/2010     -   On July 23, 2010, Kevin Hamernik was appointed the sole manager of an Iowa manufacturing company.  Later that day, the officers and all but two employees were terminated with the intentions of limiting unfunded expenses and preserving cash.  Phones were maintained and orders were taken to preserve goodwill.  Immediately, Hamernik began marketing the [...]

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HAMERNIK APPOINTED CHAPTER 11 U.S. TRUSTEE

Posted on04. Jun, 2010 by admin2.

        On May 25, 2010, Kevin J. Hamernik was appointed Chapter 11 U.S. Trustee by the United States Bankruptcy Court, Southern District of Indiana, Indianapolis Division, assuming management and control for a precision machine and manufacturing company with approximately 25 employees.Â
        Debtor, M & S, operates a custom machine shop which produces component parts for [...]

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“The Current State of Lending for Restructurings”, Panel Discussion at the Indianapolis Bar Association

Posted on08. Apr, 2010 by admin2.

Few lenders doing DIPs and restructurings was summarized at the panel discussion.

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