PetroQuest Energy – Court Grants Authority for $50 million in Exit Financing
November 15, 2018 – The Court hearing the PetroQuest Energy case authorized the Debtors (i) to assume the $50,000,000 Exit Facility Commitment Letter, dated as of November 6, 2018 and (ii) pay related...
View ArticleSears Holdings – Seeks Approval of KEIP for 18 Employees and KERP for 322...
November 15, 2018 – Sears Holdings requested Court approval of (i) a Key Employee Incentive Plan (the “KEIP”) for 18 employees and (ii) a Key Employee Retention Plan (the “KERP”) for 322 non-insiders...
View ArticleSears Holdings – Unsecured Creditors Object to DIP Financing and Cash...
November 14, 2018 – Sears Holdings’ Official Committee of Unsecured Creditors filed an objection [Docket No. 740] to the Debtors’ debtor-in-possession (“DIP”) financing motion and cash management...
View ArticleAdvanced Sports Enterprises, Inc. – Bicycle Manufacturer Files Chapter 11,...
November 16, 2018 – Advanced Sports Enterprises, Inc. (“ASE” or the “Company”) and four affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Middle District of North...
View ArticleLucky Dragon Hotel & Casino – Snow Covered Capital Objects to Conversion of...
November 16, 2018 – Snow Covered Capital filed an objection [Docket No. 999] to the motion of the Debtors’ Official Committee of Unsecured Creditors to convert the Chapter 11 cases to a cases under...
View ArticleRMH Franchise Holdings – U.S. Trustee Files Objection, Enumerates Issues...
November 16, 2018 – The U.S. Trustee filed an objection [Docket No. 785] to the Debtors’ First Amended Joint Chapter 11 Plan. The U.S. Trustee asserts, “Significant issues have been raised by numerous...
View ArticleEXCO Resources – Seeks Emergency Approval of $1 billion in Exit Financing...
November 16, 2018 – EXCO Resources requested Court authority to enter into exit financing agreements, and incur and pay related fees, indemnities, and expenses [Docket No. 1273]. The exit financing...
View ArticleMattress Firm – Court Approves Modified Chapter 11 Plan
November 16, 2018 – Mattress Firm filed with the Court an amended Modified Joint Prepackaged Chapter 11 Plan [Docket No. 904] blacklined to show changes from a version of the Plan filed on November 13,...
View ArticleSears Holdings – Court Approves Bid Procedures for $60 million Sale of Sears...
November 16, 2018 – The Court hearing the Sears Holdings’ case issued an order (i) approving bidding procedures for the sale of Sears Home Improvement Business (the “SHIP Business”), (ii) approving...
View ArticleDavid’s Bridal, Inc. – Files Pre-packaged Chapter 11, expects to eliminate...
November 19, 2018 – David’s Bridal, Inc. and three affiliated Debtors (together, “David’s Bridal” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of...
View ArticleOak Point Partners, LLC acquires remnant assets of the NWL Holdings, Inc....
August 25, 2016 – Oak Point Partners acquired the remnant assets of the NWL Holdings, Inc. (National Wholesale Liquidators) Bankruptcy Estate in August 2016. On November 10, 2008, National Wholesale...
View ArticleSears Holdings – Gets Final Approval for Store Liquidation Sales Expected to...
November 19, 2018 – The Court hearing the Sears Holdings case approved the Debtors’ motion requesting authority to (i) implement procedures for store closing sales and (ii) assume a liquidation...
View ArticleSears Holdings – Court Grants Sale of up to $900 million of Medium Term...
November 19, 2018 – The Court hearing the Sears Holdings’ case approved the Debtors’ sale of Medium Term Notes [Docket No. 826]. The order states in part, “The Debtors are authorized, but not directed,...
View ArticleiHeartMedia – Files Amended Plan Supplement, Attached Exhibits Include Key...
November 16, 2018 – iHeartMedia filed an Amended Plan Supplement [Docket No.1929] to the Debtors’ Modified Fifth Amended Joint Plan of Reorganization. The supplement contains the following documents:...
View ArticlePacific Drilling S.A. – Plan Becomes Effective, Equitizes $1.85 billion in...
November 19, 2018 – Following an Extraordinary General Meeting of shareholders held to approve several matters necessary to implement the Debtors’ Plan, including a reverse stock split, amendments to...
View ArticleEXCO Resources – Court Gives Go Ahead for $1 billion Exit Financing...
November 19, 2018 – The Court hearing the EXCO Resources case issued an order approving the Debtors’ request to (i) enter into exit financing arrangements and (ii) incur and pay related fees,...
View ArticleGenOn Energy – Seeks Court Approval of Tax Settlement Which Reduces Stamp...
November 19, 2018 – GenOn Energy filed a stipulation by and between the Debtors, NRG Chalk Point LLC (“NRG Chalk Point”), and Prince George’s County, Maryland (the “County,”) [Docket No. 1997] that...
View ArticleDavid’s Bridal – Receives Interim Approval of DIP Financing, Including $125...
November 20, 2018 – The Court hearing the David’s Bridal case issued an interim order approving the Debtor’s proposed debtor-in-possession (“DIP”) financing [Docket No. 102] to be provided through Bank...
View ArticleFirstEnergy Solutions – Vermillion Power to Serve as Stalking Horse in Sale...
November 20, 2018 – FirstEnergy Solutions filed a sale motion which establishes (i) bidding procedures for the sale of Debtor FirstEnergy Generation LLC’s (“FG”) West Lorain Assets and (ii) a timetable...
View ArticleLBI Media, Inc. – Spanish Language Broadcaster Files Chapter 11, Executes RSA...
November 21, 2018 – Privately-held LBI Media, Inc. and 17 affiliated Debtors (together, “LBI Media” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of...
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