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Appvion Bankruptcy Extension Sought

Appvion filed with the U.S. Bankruptcy Court a motion to extend exclusivity period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including March 30,...

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Hyperdynamics Bankruptcy Liquidation Initiated

Hyperdynamics and affiliated Debtor SCS Corporation filed for Chapter 7 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 17-36831. The Company, which...

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Wong Potatoes Files Chapter 11 Bankruptcy

Privately-held Wong Potatoes, Inc. filed for Chapter 11 protection from the U.S. Bankruptcy Court in the District of Oregon, case number 17-63785. The Company is led by President Daniel George Chin and...

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Uni-Pixel Bankruptcy Liquidation Sought

Uni-Pixel filed with the U.S. Bankruptcy Court a motion to convert its Chapter 11 reorganization to a liquidation under Chapter 7. The motion explains, “Substantially all of the Debtors’ assets have...

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GenOn Energy Bankruptcy Settlement Approval Sought

GenOn Energy filed with the U.S. Bankruptcy Court a motion for entry of an order (i) authorizing and directing certain actions in furtherance of the Company’s GenMa settlement and (ii) estimating U.S....

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Appvion D.I.P. Financing Amended

Appvion’s official committee of unsecured creditors filed with the U.S. Bankruptcy Court a stipulation requesting entry of an order approving amending final D.I.P. order to extend the challenge period...

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Protea Bankruptcy Objection Filed

Protea Biosciences Group’s official committee of unsecured creditors filed with the U.S. Bankruptcy Court an objection to the Debtors’ emergency settlement motion between the Debtors and Azurrx...

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2017 Bankruptcy Review & 2018 Distressed Debt Investing Forecast

This article is excerpted from New Generation Research’s The Turnaround Letter. George Putnam, III has been sharing market-beating stock recommendations and timely commentary since 1986. One of the...

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Going Concern for Iconix Brand Group

In Form 10-Q filed on December 22, 2017, Iconix Brand Group, Inc. filed their unaudited financial statements for the quarterly period ended September 30, 2017. Due to certain developments, including...

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Escalera Bankruptcy Dismissal, Conversion Sought

The U.S. Trustee assigned to the Escalera Resources case filed with the U.S. Bankruptcy Court a motion to dismiss the case or convert the Chapter 11 reorganization to a liquidation under Chapter 7 for...

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Seadrill Bankruptcy Objection Filed

The U.S. Trustee (UST) assigned to the Seadrill case filed with the U.S. Bankruptcy Court an objection to the Debtors’ Disclosure Statement. The Trustee asserts, “Overall, the UST objects to Debtors’...

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Protea Bankruptcy Settlement Denied

The U.S. Bankruptcy Court denied Protea Biosciences Group’s emergency settlement motion with AzurRx Biopharma. The denial order states, “Upon consideration of the argument of counsel and for reasons...

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EFH Bankruptcy Objection Filed

Energy Future Holdings filed with the U.S. Bankruptcy Court an objection to Elliott Associates’ motion to appoint a representative of the majority creditors to the fee committee. The objection asserts,...

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General Wireless (RadioShack) Bankruptcy Plan Effective

General Wireless Operations’ Modified First Amended Joint Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed the Plan on...

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Breitburn Energy Bankruptcy Objection Filed

Breitburn Energy Partners’ statutory committee of equity security holders filed with the U.S. Bankruptcy Court an objection to the Debtors’ Third Amended Joint Chapter 11 Plan. The objection asserts,...

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TerraVia Bankruptcy Plan Filed

TerraVia Holdings filed with the U.S. Bankruptcy Court a combined Disclosure Statement and Chapter 11 Plan of Liquidation [further revised]. Documents filed with the Court explain, “The Combined...

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Premier Exhibitions Bankruptcy Objection Filed

Premier Exhibitions’ ad hoc group of equity security holders filed with the U.S. Bankruptcy Court an objection to the Debtors’ motion to extend time for filing a Disclosure Statement. The objection...

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Fieldwood Energy Ratings Lowered

On January 3, 2018, S&P Global Ratings lowered its corporate credit rating on Fieldwood Energy LLC to D from CCC, its first-lien term and first-lien last-out term loans to D from B- and its...

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Sears Holding Closes More Stores.

On January 4, 2018, Sears Holding Corporation released a statement on its website: “Sears Holdings continues its strategic assessment of the productivity of our Kmart and Sears store base and will...

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Kid Brands Bankruptcy Case Dismissed

The U.S. Bankruptcy Court issued an order dismissing the Kid Brands Chapter 11 cases and granting related relief. The order states, “Pursuant to sections 105(a) and 1112(b) of the Bankruptcy Code and...

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