Sears Holdings Corporation – Announces Selection of ESL, and its $5.2bn Bid,...
January 17, 2019 – The Debtors announced that they had ESL Investments, Inc. (“ESL”) as the winning bidder in the Debtors’ auction. In a brief, somewhat anticlimactic, press release, the Debtors...
View ArticleDavid’s Bridal – Emerges from Whirlwind Chapter 11 with $450mn Debt Reduction...
January 18, 2019 – The Debtors notified the Court hearing the David’s Bridal case that they had emerged from their Chapter 11 bankruptcy effective January 18, 2019 [Docket No. 290]. The Court had...
View ArticleGymboree Group, Inc – Gets Approval for Immediate Commencement of Closing...
January 17, 2018 – The Debtors requested Court authority, subsequently granted [Docket Nos. 62 and 86], to (a) assume an agency agreement, dated as of January 16, 2019, (the “Agency Agreement”) with...
View ArticleAdvanced Sports Enterprises, Inc. – Tennis and Skiing Powerhouse Head Buys...
January 17, 2019 – The Debtors notified the Court hearing the Advanced Sports Enterprises case that, further to an auction held on January 16, 2019, HTM USA HOLDINGS, LLC (“Head” or the “Buyer”) had...
View ArticleSpecialty Retail Shops Holding Corp. (Shopko Stores) – Court Approves $479mn...
January 18, 2019 – The Court hearing the Shopko Stores case issued an order authorizing (i) debtor-in-possession (“DIP”) financing consisting of (a) a senior secured superpriority revolving credit...
View ArticleWestmoreland Coal Company – Cancels Auction and Designates Entity Comprised...
January 21, 2019 – The Debtors notified the Court [Docket No. 1112] hearing the Westmoreland Coal Company case that further to Court approved bidding procedures [Docket No. 519], and having not...
View ArticleiHeartMedia – Reaches Agreement with Legacy Noteholders, Clears Last(?) Major...
January 17, 2019 – The Debtors notified [Docket No. 2207] the Court hearing the iHeartMedia case that they had reached an agreement in principle with Wilmington Savings Fund Society, FSB (the “Legacy...
View ArticleGastar Exploration – Debtors Emerge from Chapter 11 as Gastar Exploration...
January 22, 2019 – The Debtors filed notice that their Amended Joint Prepackaged Chapter 11 Plan of Reorganization became effective as of January 22, 2019 [Docket No. 315]. The Court had previously...
View ArticleMaremont Corporation – Files Pre-packaged Chapter 11; Parent Meritor and...
January 23, 2019 – Maremont Corporation and 3 affiliated Debtors (“Maremont” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case...
View ArticleSam Kane Beef Processors, LLC – All Debt and No Cattle? Texas Meat Packer...
January 23, 2019 – Sam Kane Beef Processors (“SKB” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 19-20020 [Docket...
View ArticleArgos Therapeutics – Auction Nets $11.3mn Purchase Price, Considerably...
January 23, 2019 – Further to the Debtors’ January 22, 2019 auction and its selection of successfull and back-up bidders [Docket No. 125], the Debtors received Court approval [Docket No. 129] for (i)...
View ArticleBankruptcy Management Solutions (BMS) Rebrands as “Stretto”
January. 22, 2019 – Irvine, California-based Bankruptcy Management Solutions (BMS) unveiled a new name and brand, Stretto, intended to “reflect the company’s growth and evolution into a full-service...
View ArticleWestmoreland Coal Company – Senior Judge Appointed to Mediate Deepening Jay...
January 16, 2019 – The Court hearing the Westmoreland Coal case appointed U.S. Bankruptcy Court Judge Marvin Isgur as a mediator and ordered that (i) Mar-Bow Value Partners, LLC and Jay Alix...
View ArticleWestmoreland Coal Company – Talen Montana Objects Confirmation of Plan
January 25, 2019 – Talen Montana, LLC (“Talen”) objected to confirmation of the Debtors’ Plan, arguing that the Debtors’ recently announced intention to reject certain coal supply agreements between...
View ArticleSpecialty Retail Shops Holding Corp. (Shopko Stores) – Files Notice of...
January 25, 2019 – The Debtors filed a notice detailing the results of an auction held in respect of the Debtors’ pharmacy assets on January 23, 2019. Walgreens Boots Alliance was named the successful...
View ArticleFirstEnergy Solutions – Court Approves Sale of West Lorain Assets to...
January 25, 2019 – Further to the cancellation of the auction planned for January 15, 2019 and the Debtors’ designation of stalking horse bidder Vermillion Power (the “Stalking Horse Bidder”) as the...
View ArticleMcAuliffe hints at presidential run but GreenTech debacle follows in tow
January 28, 2019 – With former Virginia governor Terry McAuliffe all but declaring his candidacy in the presidential 2020 race on January 24, attention will inevitably turn to the circumstances...
View ArticleWaypoint Leasing Holdings – Announces Sale of Three Tranches of Helicopter...
January 23, 2019 – Further to approved bidding procedures [Docket No. 159], the Debtors notified the Court that they had designated three successful credit bidders in respect of three individual...
View ArticlePG&E Corporation – Northern California Utility Files Chapter 11 Noting...
January 29, 2019 – PG&E Corporation (“PG&E,” NYSE: PCG) and its primary operating subsidiary, Pacific Gas and Electric Company (“Utility” and together with PG&E, the “Debtors” or the...
View ArticleSears Holdings – Creditors Committee Accuses Lampert and ESL of Lining Their...
January 28, 2019 – The Debtors Unsecured Creditors Committee (the “Committee”) filed a 360 page objection to the Debtors’ proposed $5.5bn sale of going concern assets to Edward Lampert’s ESL...
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