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,...
View ArticleHyperdynamics 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...
View ArticleWong 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...
View ArticleUni-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...
View ArticleGenOn 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....
View ArticleAppvion 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...
View ArticleProtea 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...
View Article2017 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...
View ArticleGoing 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...
View ArticleEscalera 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...
View ArticleSeadrill 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’...
View ArticleProtea 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...
View ArticleEFH 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,...
View ArticleGeneral 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...
View ArticleBreitburn 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,...
View ArticleTerraVia 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...
View ArticlePremier 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...
View ArticleFieldwood 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...
View ArticleSears 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...
View ArticleKid 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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