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21st Century Oncology Bankruptcy Plan Confirmed

The U.S. Bankruptcy Court confirmed 21st Century Oncology Holding’s Joint Chapter 11 Plan of Reorganization. As previously reported, “If confirmed and consummated, the Plan will eliminate more than...

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J.G. Wentworth Bankruptcy Objection Filed

The U.S. Trustee assigned to the J.G. Wentworth case filed with the U.S. Bankruptcy Court an objection to the Debtors’ Joint Pre-Packaged Plan of Reorganization. The Trustee asserts, “The United States...

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Breitburn Energy Post-Bankruptcy Directors/Officers Identified

Breitburn Energy Partners filed with the U.S. Bankruptcy Court a notice of initial directors and officers for New Permian Corp. The notice states, “In accordance with Section 6.10 of the Debtors’ Third...

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Real Industry Bankruptcy Financing Revised

Real Industry filed with the U.S. Bankruptcy Court a notice of new proposed D.I.P. lenders and a new commitment letter. The notice states, “After filing the DIP Financing Motion, Real Industry received...

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Walter Investment Management Bankruptcy Plan Filed

Walter Investment Management filed with the U.S. Bankruptcy Court an Amended Prepackaged Chapter 11 Plan of Reorganization. According to documents filed with the Court, “On the Effective Date, holders...

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Hovnanian Enterprises’ Distressed Debt Exchange

On January 5, 2018, Fitch Ratings downgraded Hovnanian Enterprises, Inc.’s Issuer Default Rating to C from CCC following the Company’s announcement that it will be exchanging up to $185 million of its...

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Oakridge Bankruptcy Extension Sought

Oakridge Holdings filed with the U.S. Bankruptcy Court a renewed motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof, both through...

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Real Industry Bankruptcy KEIP/KERP Approved

The U.S. Bankruptcy Court approved Real Industry’s motion to implement the Real Alloy Debtors’ (i) key employee incentive plan (KEIP) and (ii) key employee retention plan (KERP). As previously...

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Kingman Farms Bankruptcy

Privately-held Kingman Farms Ventures, LLC (Kingman Farms) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Nevada, case number 18-10180. Based in Las Vegas, NV, the...

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Cumulus Media Bankruptcy Incentive Program Filed

Cumulus Media filed with the U.S. Bankruptcy Court a motion authorizing the Debtors to continue certain pre-petition incentive compensation programs. The motion explains, “Currently, 11 individuals...

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Armstrong Energy Bankruptcy Objection Filed

Louisville Gas and Electric (LG&E) and its affiliated Kentucky Utilities (KU) filed with the U.S. Bankruptcy Court an objection to Armstrong Energy’s Second Amended Joint Plan of Reorganization....

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Walter Investment Bankruptcy Plan Confirmed

The U.S. Bankruptcy Court issued an order confirming Walter Investment Management’s Amended Prepackaged Chapter 11 Plan of Reorganization [Modified], and the Company anticipates emerging from Chapter...

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Rentech Bankruptcy Sale Order Revised

The U.S. Bankruptcy Court docket reflects a certification of counsel regarding an order authorizing the Rentech Debtors to sell the assets of the non-debtor NEWP subsidiaries. The document notes,...

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Q4 Bankruptcy Extension Sought

Quadrant 4 System (Q4) and Stratitude filed with the U.S. Bankruptcy Court a motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof...

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RGL Reservoir Management Inc.

On January 18, 2018, S&P Global Ratings lowered its long-term corporate credit rating on RGL Reservoir Management Inc. to SD from CCC- and its first-lien term loan to D from CC. According to...

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Sears Holdings Ratings Lowered

On January 17, 2018, S&P Global Ratings lowered its corporate credit rating on Sears Holdings Corporation to CCC- from CCC and its second-lien secured debt rating to CCC from CCC+. According to...

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PES Holdings (a/k/a Philadelphia Energy Solutions) Prepackaged Bankruptcy

Privately-held PES Holdings (a/k/a Philadelphia Energy Solutions) and eight affiliated Debtors, including Philadelphia Energy Solutions Refining and Marketing, filed for Chapter 11 protection with the...

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Toys “R” Us Bankruptcy Objection Filed

The U.S. Trustee assigned to the Toys “R” Us case filed with the U.S. Bankruptcy Court an objection to the Company’s motion for entry of an order authorizing the Debtors to provide consideration to...

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Protea Biosciences D.I.P. Financing Approved

The U.S. Bankruptcy Court granted final approval to Protea Biosciences Group’s post-petition financing motion. The D.I.P. loan includes the following terms: “An initial term loan in the principal...

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Appvion Bankruptcy Extension Approved

The U.S. Bankruptcy Court approved Appvion’s motion to extend the Company’s exclusivity period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including...

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