Monthly Archives: June 2013

Duke Investments LLC Files for Chapter 11 Bankruptcy

coffee-shop-business-plan            On June 12, 2013, Duke Investments, LLC, of  300 Tarentum Bridge Road, New Kensington, PA 15068, filed a voluntary  Chapter 11 Bankruptcy Petition in the United States Bankruptcy Court for the Western District of Pennsylvania, Case No. 13-22509.   The Debtor is owned by John Coutlakis and John Hareras.

The case was designated a “small business case” pursuant to 11 U.S. C 101(51(D).  The summary of schedules discloses assets worth about $41,900 and debts totaling $399,591, most of which consisted of taxes ($190,000 to the IRS and $85,000 to the Pennsylvania Department of Revenue).  The Debtor also scheduled several unsecured debt obligations to WesBanco and First Commonwealth Bank.

From the list of the Debtor’s executory contracts, it appears as though this Debtor operated several coffee shops in the area, Robinson Court, The Frick Building, and Bridgeville.

The Debtor is represented by Mr. Richard R. Tarantine, Esquire, 437 Grant Street,  Suite 416, Pittsburgh, PA 15219, 412-321-5229, Email: rrt@tarantinelaw.com.  Mr. Tarantine disclosed an hourly rate of $250/hour and a pre-petition compensation around $8,000.

The docket can be found here.

MSI Corporation Files a Chapter 11

By: Katie Imler, Law Clerk

June 10, 2013

ImageOn June 7, 2013, MSI Corporation, a specialty metals processor, filed for a voluntary Chapter 11 bankruptcy in the Western District of Pennsylvania (Case No. 2:13-bk-22457). The company, located at 210 First Street, Vandergrift, PA 15690, processes metals such as titanium alloys, copper, and steel. MSI Corporation also offers material conditioning such as cast slab milling, grinding, and plate polishing.

The Chapter 11 case has been assigned to the Honorable Judge Jeffery A. Deller. Michael J. Roeschenthaler of McGuireWoods LLP, 625 Liberty Ave., 23rd Floor, Pittsburgh, PA 15222.  A summary of the case docket can be found here.

Debtor listed $10-$50 million in assets and $1-$10 million in liabilities. The largest unsecured creditors are mostly for trade debt including: Euler Hermes Collections $279,230.11, Dynamark Security Centers $32,617.76, D&S Industrial Contracting $27,040.00, H&K Equipment Company $22,038.30, and Production Abrasives, Inc. $19,740.00.

Schedules are due June 21, 2013. The Disclosure Statement and Plan of Reorganization are due October 7, 2013.

StonePepper’s Grill in Robinson Twp. files for Chapter 11

Settlers Ridge No. 3, L.P. files for Chapter 11

By Katie Imler, Law Clerk

On May 13, 2013, StonePepper’s Grill, formally known as Settlers Ridge No. 3, L.P., of 1738 North Highland Road, Pittsburgh, PA  15241 filed a voluntary Chapter 11 bankruptcy petition in the Bankruptcy Court for the Western District of Pennsylvania, assigned Case No. 13-22082-CMB. The case has been assigned to the Honorable Judge Carlota M. Bohm.

 Stonepepper Grill's LogoStonePepper’s Grill is a restaurant that serves brick-oven pizza and won the 2012 Best Burger in Upper St. Clair Contest. The restaurant chain has three (3) locations in Upper Saint Clair, Mars, and Robinson Township. The only location effected by this filing is the Robinson Township location. Counsel for the Debtor is Robert O. Lampl, located at 960 Penn Avenue, Pittsburgh, PA 15222. Lampl’s disclosed hourly rate is $400/hour.

A summary of the docket for the case can be viewed here.

The Debtor has elected to be considered a “small business debtor, ” defined under Bankruptcy Code § 101(51D)(A) as a person engaged in commercial or business activities who as of the date of petition filing or order of relief has an aggregate non-contingent liquidated secured and unsecured debts in an amount not more than $2,000,000.00 (excluding debts owed to 1 or more affiliates or insiders). See also Bankruptcy Code § 1116. The bankruptcy filing showed liabilities and assets between $100,000.00 -$500,000.00. The Debtor listed the largest unsecured debts as $93,940.00 in Employer Withholding, $78,775.00 in Loans to owner Jeff Joyce, $77,535.00 in PA Sales Tax, and $38,465.00 in Business Debt to CRK Management LLC, who also employs Jeff Joyce. It also has a Business Debt of $77,613.00 payable to Settlers Ridge Leased, LP.

      A hearing will take place on June 25, 2013 in regards to confirmation of employing Debtor’s counsel. The Chapter 11 Small Business Plan and Disclosure Statement are due November 12, 2013.