Orexigen Bankruptcy KERP Filed
Orexigen Therapeutics filed with the U.S. Bankruptcy Court a motion for entry of an order (i) authorizing implementation of a key employee incentive plan (KEIP) and a key employee retention plan (KERP)...
View ArticleQuadrant 4 401(K) Terminated
The U.S. Bankruptcy Court approved the motion of Quadrant 4 System’s wholly-owned subsidiary Stratitude to terminate its 401(k) plan and for limited and shortened notice thereof. As previously...
View ArticleSteel City Media Bankrupt
Privately-held MGTF Radio Company and WPNT (d/b/a Steel City Media) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Eastern District of Missouri, lead case number 18-41671. The...
View ArticlePatriot National Bankruptcy Objection Filed
Quentin P. Smith, Jr., Charles H. Walsh, Michael J. Corey and Christopher A. Pesch (collectively, the Company’s former directors and officer [Former Ds&O’s]) filed with U.S. Bankruptcy Court an...
View ArticleReal Industry Bankruptcy Auction Cancelled, Credit Bid Detailed
Real Industry filed with the U.S. Bankruptcy Court a notice of credit bid amount and cancellation of auction. The notice states, “The Required DIP Noteholders and the Debtors have agreed to a total...
View ArticleLuminance Recovery Center: Bankrupt
Privately-held Luminance Recovery Center, LLC and one affiliated Debtor filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Central District of California, lead case number 18-10969....
View ArticleToys “R” Us Bankruptcy Wind-Down Approved
The U.S. Bankruptcy Court approved Toys “R” Us’ motion to wind-down the Company’s U.S. operations, authorizing the Debtors to conduct U.S. store closings, establishing bidding procedures for the sale...
View ArticleCumulus Media Bankruptcy Objection Filed
ABS Entertainment, Barnaby Records, Brunswick Record and Malaco (collectively, “Copyright Owners”) filed with the U.S. Bankruptcy Court an objection to Cumulus Media’s First Amended Joint Plan of...
View ArticleKaty Industries Benefits Terminated
The U. S. Bankruptcy Court approved Katy Industries’ motion for an order, pursuant to Section 1114 of the Bankruptcy Code, terminating retiree benefits. As previously argued, “Historically, the Debtors...
View ArticleBreitburn Energy Bankruptcy Objection Filed
AMT Global (AMT) filed with the U.S. Bankruptcy Court an objection to Breitburn Energy Partners’ Third Amended Joint Chapter 11 Plan [with technical modifications]. The objection explains, “The...
View ArticleSears Holding Distressed Debt Exchange
On March 21, 2018, Fitch Ratings downgraded the Long-Term Issuer Default Ratings on Sears Holdings Corporation, Sears Roebuck Acceptance Corp. and Kmart Corporation to RD from C following the closing...
View ArticleCPI Card Downgraded
On March 21, 2018, S&P Global Ratings lowered its corporate credit rating on CPI Card Group Inc. to CCC+ from B- and its senior secured credit facility rating to CCC+ from B-. According to S&P...
View ArticleRemington Prepackaged Chapter 11
Remington Outdoor Company (ROC) and 12 affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 18-10684. The Company, which...
View ArticleCenveo Bankruptcy Consolidation Program Filed
Cenveo filed with the U.S. Bankruptcy Court a motion for entry of an order approving Cenveo’s plant consolidation compensation program. The motion explains, “Cenveo commenced these chapter 11 cases to...
View ArticleToys “R” Us Bankruptcy Bid Procedures Approved
The U.S. Bankruptcy Court approved Toys “R” Us, motion for entry of an order establishing bidding procedures and approving the sale of certain real property and leases. As previously reported, “As the...
View ArticlePatriot National Bankruptcy Objection Filed
The Florida Department of Financial Services, Division of Rehabilitation and Liquidation (Department) filed with the U.S. Bankruptcy Court an objection to Patriot National’s Second Amended Joint...
View ArticlePhaseRx Bankruptcy Case Dismissed
The U.S. Bankruptcy Court issued an order dismissing PhaseRx’s Chapter 11 proceeding. As previously reported, the Company sought dismissal, arguing, “Having sold substantially all of its assets,...
View ArticleSummit Financial Bankrupt
Privately-held Summit Financial Corporation filed for Chapter 11 protection with the U.S. Bankruptcy court in the Southern District of Florida, case number 18-13389. The Company is based in Plantation,...
View ArticleZohar III Bankruptcy Dismissal, Trustee Sought
MBIA Insurance (MBIA) and the Zohar III Controlling Class (together, the “Secured Creditors” filed with the U.S. Bankruptcy Court a motion to dismiss Zohar III’s Chapter 11 case or, if not dismissed,...
View ArticleCenveo CBA Approval Sought
Cenveo filed with the U.S. Bankruptcy Court a motion for entry of an order authorizing Cenveo to enter into new collective bargaining agreements (CBAs) with Bindery Union Local 4c and Press Union Local...
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