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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)...

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Quadrant 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...

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Steel 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...

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Patriot 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...

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Real 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...

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Luminance 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....

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Toys “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...

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Cumulus 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...

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Katy 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...

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Breitburn 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...

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Sears 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...

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CPI 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...

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Remington 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...

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Cenveo 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...

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Toys “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...

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Patriot 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...

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PhaseRx 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,...

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Summit 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,...

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Zohar 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,...

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Cenveo 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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