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SFX Entertainment Resignation Agreement Approval Sought

SFX Entertainment filed with the U.S. Bankruptcy Court a motion for an order to enter into a resignation and transition agreement with Robert F. X. Sillerman. The motion explains, “The RSA was...

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Osage Exploration and Development Conversion Sought

The U.S. Trustee assigned to the Osage Exploration and Development case filed with the U.S. Bankruptcy Court a motion to convert the Chapter 11 reorganization to a liquidation under Chapter 7. The...

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Peabody Energy KERP Approval Sought

Peabody Energy filed with the U.S. Bankruptcy Court a motion for an order approving a key employee retention plan (KERP). The motion explains, “The KERP will cost the Debtors no more than $3.24 million...

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FTI Consulting Named “Global Turnaround Consulting Firm of the Year”

FTI Consulting, Inc. announced that it was recently named Global Turnaround Consulting Firm of the Year for the second consecutive year and was awarded four Turnaround Atlas Awards by the Global...

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UCI Holdings Limited Chapter 11 Petition Filed

UCI Holdings Limited and 12 affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 16-11354 (UCI International). The Company,...

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Warren Resources Chapter 11 Petition Filed

Warren Resources and five affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 16-32760. The Company, which is engaged...

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Caesars Entertainment Operating Company Conversion Approval Sought

Caesars Entertainment Operating Company filed with the U.S. Bankruptcy Court a motion to authorize the Debtors to convert (A) Caesars World (B) Showboat Holding (C) Parball Corporation and (D) Grand...

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Energy XXI Equity Holders Committee Sought

Energy XXI’s ad hoc committee of equity interest holders filed with the U.S. Bankruptcy Court an emergency motion to appoint an official committee of equity holders. The motion explains, “The Debtors...

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Alpha Natural Resources Reconsideration Sought

The United Mine Workers of America Combined Benefit Fund and the United Mine Workers of America 1992 Benefit Plan (collectively, the “Coal Act Funds”) filed with the U.S. Bankruptcy Court a motion for...

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Rolta India Limited Downgraded Three Times

On May 27, 2016, Fitch Ratings downgraded Rolta India Limited’s Issuer Default Ratings and senior unsecured class rating to CC from B. Simultaneously, Fitch downgraded the ratings on the Rolta, LLC’s...

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Hercules Offshore Prepackaged Chapter 11 Petition Filed–Second Bankruptcy

Hercules Offshore and 13 affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 16-11385. The Company, which provides...

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Noranda Aluminum Holding Program, Plans Approved

The U.S. Bankruptcy Court approved Noranda Aluminum Holding’s senior management severance program for non-insider employees. As previously reported, “Specifically, the Modified Senior Management...

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SG Blocks Plan Filed

The U.S. Bankruptcy Court approved SG Blocks’ Amended Plan of Reorganization, which was filed on April 15, 2016. According to documents filed with the Court, “On the Effective Date of the Plan, the...

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Seventy Seven Energy Chapter 11 Petition, Plan Filed

Seventy Seven Energy (a/k/a Chesapeake Oilfield Operating) and ten affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number...

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Doral Financial Disclosure Statement Approved

The U.S. Bankruptcy Court approved Doral Financial’s Disclosure Statement and scheduled a July 25, 2016 hearing to consider the Amended Plan of Reorganization. According to the Disclosure Statement,...

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SFX Entertainment Successful Bidder Announced

SFX Entertainment filed with the U.S. Bankruptcy Court a notice of (i) successful bidder for its Flavorus Assets and (ii) potential assumption and/or assignment or rejection of additional executory...

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SunEdison Objections Filed

Multiple parties – including RLI Insurance Company, Atlantic Specialty Insurance Company and Argonaut Insurance Company – filed with the U.S. Bankruptcy Court separate objections to SunEdison’s motion...

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Noranda Aluminum Holding Extension Sought

Noranda Aluminum Holding filed with the U.S. Bankruptcy Court a second motion to extend the exclusive period, by 120 days, during which the Company can file a Chapter 11 plan and solicit acceptances...

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Verso Successor Chairman Designated

Verso announced that David J. Paterson, president, C.E.O. and a director of Verso, will become the chairman of the board immediately upon the Company’s emergence from Chapter 11 protection. In...

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BioNitrogen Holdings Settlement Approved

The U.S. Bankruptcy Court approved BioNitrogen Holdings’ settlement agreement with the City of Perry. As previously reported, “The settlement resolves all matters and disputes between the parties,...

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