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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...

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David’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...

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Gymboree 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...

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Advanced 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...

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Specialty 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...

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Westmoreland 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...

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iHeartMedia – 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...

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Gastar 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...

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Maremont 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...

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Sam 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...

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Argos 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)...

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Bankruptcy 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...

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Westmoreland 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...

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Westmoreland 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...

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Specialty 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...

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FirstEnergy 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...

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McAuliffe 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...

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Waypoint 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...

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PG&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...

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Sears 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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