Cases
CourtFilingsPetition dateMore filters
HeartBrand Holdings filed voluntary Chapter 11 in the Southern District of Texas on Aug. 1, 2022, with affiliate American Akaushi Association jointly administered under lead case 22-90127. The case centers on HeartBrand’s Akaushi beef platform: HBI owns AAA and operates through five wholly owned subsidiaries, but only HBI and AAA entered bankruptcy. The petition lists Twinwood Cattle Company as a disputed $28.9 million judgment creditor, and the opening statement says the filing was driven by the debtors’ inability to post another $10.7 million in security to stay execution of Twinwood’s Texas state-court judgment while pursuing appeal. source filing source filing source filing
The initial posture was litigation preservation rather than a sale process: the debtors identified a $20 million promissory note held by Beeman Ranch and Beeman family trusts as their sole funded debt, with Twinwood as the central adversary and Ronald Beeman tied to both the debt structure and the judgment dispute. The court modified the stay to let the state appellate process continue while barring collection, new bond demands, or control over debtor assets, and the debtors later sought to install CR3 Partners’ William K. Snyder as CRO to manage Chapter 11 reporting, cash monitoring, stakeholder requests, and plan preparation. source filing source filing
Loading defined terms…