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We've summarized the latest docket activity and news for publicly traded companies currently operating under U.S. Bankruptcy Court protection.

Bankruptcy/Chapter 11

Valley Forge Composite Technologies Chapter 11 Petition Filed

Valley Forge Composite Technologies filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Middle District of Pennsylvania, case number 13-05253. The Company, which produces technology products, is represented by Maurice R. Mitts of Mitts Milavec. According to documents filed with the SEC, on October 14, 2013 Evan Levine was elected as chairman, following the resignation of Larry K. Wilhide from that role - and also following the resignations of Richard Relac, Eugene Breyer, Dr. Victor Alessi and Raul Fernandez. On the same date, Wilhide also resigned as interim president, interim chief executive officer and chief financial officer. Valley Forge Composite Technologies further announced its board’s recent affirmation of the Company’s decision to suspend all efforts related to its photonuclear detection system project, known as “THOR.” The Company explains, “When we review the objections of other nuclear systems for commercial application, we find that this system does not obviously improve upon their faults. Therefore, with the data we currently have, we believe substantial investment is required and the probability of success appears low.”

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Puerto Rico Government Bankruptcy: Uncertainty But Also Investing Opportunity

Because of special tax law provisions that exempt the territory’s debt from not only federal taxes but also state taxes in every state, the bonds are widely held by investors across the country. Since the legal action is under a new law that has never been tested, there is tremendous uncertainty about how much creditors will recover and how long the process will take, but there may be opportunities for stock investors to profit from the island’s restructuring as well--perhaps with less downside risk than in many of the bonds. We found four public companies based in Puerto Rico that could benefit from stabilization in the island’s finances as well as three major insurance companies with exposure to Puerto Rican debt. Read More.

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Five Struggling Stocks That Will Turn Around

 

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Kiplinger points out that despite the post-election stock market surge, not all stocks have benefited from the uptick: "More than 100 issues in the S&P 500 have fallen in price this year, including dozens that have slumped by more than 10%....Yet these stocks won’t all stay in the dumps forever. Some will mount a comeback in 2017, making it an opportune time to try to identify the best candidates."

 

Quoting George Putnam, Kiplinger details five value opportunities for the new year.

 

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