Sears Holdings – Edward Lampert’s ESL Files Revised $5bn Bid, Offer on Table...
January 10, 2019 – In a letter dated January 9, 2019 addressed to Lazard Frères & Co. and filed with the SEC, ESL Investments, Inc. (“ESL”) submitted a revised bid (the “Revised Proposal”)...
View ArticleEgalet Corporation – Files Amended Joint Plan of Reorganization, Looks to...
January 10, 2019 – Egalet Corporation filed a First Amended Joint Chapter 11 Plan of Reorganization as Modified [Docket No. 223] and a related blackline [Docket No. 224] showing changes to the Plan...
View ArticleWaypoint Leasing Holdings – Administrative Agent Seeks Extension of Credit...
January 10, 2019 – SunTrust Bank, as administrative agent (“WAC 7 Administrative Agent”) in respect of the Debtors’ Amended and Restated Credit Agreement dated as of April 28, 2017 (the “WAC7 Credit...
View ArticleWaypoint Leasing Holdings – Sumitomo Objects to Retention of Houlihan Lokey,...
January 10, 2019 – Sumitomo Mitsui Banking Corporation, Brussels Branch, in its capacity as the administrative agent (“Sumitomo” or ths“WAC12 Administrative Agent”) under the WAC12 Credit Facility...
View ArticleSears Holdings – Edward Lampert’s ESL “Raises” Bid to $5bn, Will Unsecured...
January 13, 2019 (update) – In a letter dated January 9, 2019 addressed to Lazard Frères & Co. and filed with the SEC, ESL Investments, Inc. (“ESL”) submitted a revised bid (the “Revised Proposal”)...
View ArticlePetroQuest Energy – Plan Supplement Includes Key Organizational and Finance...
January 11, 2019 – The Debtors filed a Plan Supplement in respect of their First Amended Plan of Reorganization [Docket No. 366]. The filing draws particular attention to Exhibit L: Notice Regarding...
View ArticleRepublic Metals Corporation – Court Approves Valcambi as Stalking Horse
January 11, 2019 – The Court hearing the Republic Metals Corporation case issued an order [Docket No. 399] approving (i) bid procedures in respect of the sale of the Debtors’ assets (the “Bid...
View ArticleEgalet Corporation – Court Confirms Plan, Debtors Set to Shed $61mn on Emergence
January 14, 2019 – The Court hearing the Egalet Corporation case issued an order confirming the Debtors’ First Amended Chapter 11 Plan of Reorganization [Docket No. 242]. On October 31, 2018, the...
View ArticlePromise Healthcare Group – Cancels Auction and Designates Stalking Horse L.A....
January 14, 2019 – Promise Healthcare Group notified the Court [Docket No. 478] that pursuant to Court approved bidding procedures [Docket No. 257] it had (i) cancelled a January 17, 2019 auction for...
View ArticlePetroQuest Energy – Files Amended Plan, “Immaterial Modifications” Include...
January 14, 2019 – PetroQuest Energy filed its First Amended Chapter 11 Plan, as Immaterially Modified as of January 14, 2019 [Docket No. 375] and a related redline [Docket Nos. 375 and 376] reflecting...
View ArticleAegean Marine Petroleum – Court Issues Final Order on $535mn of DIP Financing
January 15, 2019 – The Court hearing the Aegean Marine Petroleum case issued a final order authorizing the Debtors to obtain $535mn in debtor-in-possession (“DIP”) financing comprised of (i) a $160mn...
View ArticleAegean Marine Petroleum – Court Authorizes Restructuring Support Agreement,...
January 15, 2019 – The Court hearing the Aegean Marine Petroleum case issued an order [Docket No. 291] authorizing the restructuring support agreement entered into amongst Mercuria Energy Group Limited...
View ArticleSpecialty Retail Shops Holding Corp. (Shopko Stores) – Files Chapter 11,...
January 16, 2019 – Specialty Retail Shops Holding Corp. (“Shopko” or “the Company”) and 13 affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Nebraska,...
View ArticleGymboree Group, Inc – Files Chapter 11, Looks to Wind Down Gymboree and Crazy...
January 17, 2019 – Gymboree Group and 10 affiliated Debtors (“Gymboree” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Eastern District of Virginia, lead case...
View ArticleSpecialty Retail Shops Holding Corp. (Shopko Stores) – Proposes Bidding...
January 16, 2019 – The Debtors requested Court approval of proposed bidding procedures for the sale of its remaining pharmacy assets (“Pharmacy Assets”) [Docket No. 27]. The Debtors motion also...
View ArticleGymboree Group, Inc – Files Chapter 11, Looks to Wind Down Gymboree and Crazy...
January 17, 2019 – Gymboree Group and 10 affiliated Debtors (“Gymboree” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Eastern District of Virginia, lead case...
View ArticleSpecialty Retail Shops Holding Corp. (Shopko Stores) – Creditor McKesson...
January 16, 2019 – Creditor McKesson Corporation (“McKesson”), filed an objection to the Debtors’ emergency motion for debtor-in-possession (“DIP”) financing [Docket No. 35]. The objection states,...
View ArticleGymboree Group, Inc. – Seeks $30mn in New Money DIP from Pre-Petition Lenders
January 17, 2019 – The Debtors requested Court authority to (i) enter into interim and final debtor-in-possession (“DIP”) financing arrangements with SPECIAL SITUATIONS INVESTING GROUP, INC., as...
View ArticleCheckout Holding – Court Approve $275mn of DIP Financing ($125mn of New...
January 17, 2019 – The Court hearing the Checkout Holding case issued a final order [Docket No. 222] (i) authorizing the Debtors to obtain $275.0mn in debtor-in-possession (“DIP”) financing (including...
View ArticleSears Holding – Creditors Committee Takes Off Gloves, Assails Board’s...
January 17, 2019 – The Debtors’ Official Committee of Unsecured Creditors (the “Creditors Committee”), clearly deeply disappointed by its inability to block the Debtors’ choice of ESL Investments, Inc....
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