Things Remembered – Cancels Auction and Designates Stalking Horse Enesco (and...
March 1, 2019 − Further to the terms of a bidding procedures order dated February 21, 2019 [Docket No. 150], the Debtors notified the Court that they (i) had not received any bids other than the...
View ArticleSynergy Pharmaceuticals – Court Approves $200mn Sale of of Debtors’ Assets to...
March 1, 2019 – The Court hearing the Synergy Pharmaceuticals case issued an order [Docket No. 484] approving (i) the sale of substantially all of the Debtors' assets (the "Acquired Assets") to Bausch...
View ArticleMagnum Construction Management, LLC – Builder of Collapsed Miami Bridge Files...
March 4, 2019 − Magnum Construction Management (f/k/a Munilla Construction Management, “MCM” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of...
View ArticleStretto Announces Acquisition of Legal Technology Services Provider CINgroup®
March 1, 2019 – Stretto, a market-leading bankruptcy-technology firm serving the corporate-restructuring and consumer-bankruptcy industries, has acquired CINgroup® and its Best Case®...
View ArticleGymboree Group – Court Approves $35mn Sale of Janie & Jack Assets to The GAP...
March 4, 2019 – The Court hearing the Gymboree Group cases issued a pair of orders approving (i) the sale of assets related to the Debtors' Janie and Jack® business to The Gap, Inc. (the “JJ Successful...
View ArticleDiesel USA Inc. – U.S. Subsidiary of Iconic Denim Brand Files Chapter 11,...
March 5, 2019 − Diesel USA Inc. ("Diesel USA" or the "Company") filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-10432. The Company, a...
View ArticleDiesel USA Inc. – Files Plan and Disclosure Statement as It looks to...
March 5, 2019 – Diesel USA filed for Chapter 11 of Reorganization [Docket No. 28] and related Disclosure Statement [Docket No. 29]. As the Debtor makes clear as to a Plan where there are no impaired...
View ArticleSynergy Pharmaceuticals – Creditors Committee Objects to Appointment of...
March 5, 2019 – The Debtors’ Official Committee of Unsecured Creditors (the “Creditors Committee”) objected to the Debtors’ motion for (i) the appointment of an independent director (the “Investigation...
View ArticleQuinn Emanuel Adds Pair of Partners to Restructuring Teams in Houston and New...
March 5, 2019 − Quinn Emanuel Urquhart & Sullivan has added restructuring partners Patricia (“Patty”) Tomasco to its Houston office and Deborah Newman to it New York office. Ms. Tomasco, who joins...
View ArticleCharlotte Russe Holding – SB360 Capital Partners Named as Successful Bidder...
March 5, 2019 – The Debtors notified [Docket No. 294] the Court that further to an existing bidding procedures order [Docket No. 199], the Debtors had selected SB360 Capital Partner, LLC (“SB360”) as...
View ArticleDitech Holding Corporation – Files Chapter 11 Plan and Related Disclosure...
March 6, 2019 – The Debtors filed (i) a Joint Chapter 11 Plan, (ii) a related Disclosure Statement and (iii) a scheduling motion [Docket Nos. 145,146 and 147, respectively]. Plan Summary The Disclosure...
View ArticleParker Drilling Company – Court Confirms Amended Joint Plan of Reorganization
March 5, 2019 – The Court hearing the Parker Drilling Company cases confirmed the Debtors' Amended Joint Plan of Reorganization. On November 12, 2018, Parker Drilling Company and 19 affiliated Debtors...
View ArticleWestmoreland Coal Company – U.S. Trustee and McKinsey Embrace Isgur Mediation...
March 8, 2019 – Each of (i) McKinsey Recovery and Transformtion Services ("McKinsey") and (ii) Mar-Bow Value Partners, LLC and Jay Alix (collectively, "Mar-Bow") have responded to the "Mediator's...
View ArticlePG&E Corporation – Tort Claimants Committee Objects to DIP Financing, Citing...
March 8, 2019 – The Debtors’ Official Committee of Tort Claimants (the “Committee”) objected to the Debtors’ proposed debtor-in-possession (“DIP”) financing motion [Docket No. 23]. The objection...
View ArticleCTI Foods, LLC – Files Prepackaged Chapter 11, Looks to Shed $400mn in Debt
March 11, 2019 − CTI Foods, LLC and 17 affiliated Debtors ("CTI Foods" or the "Company") filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number...
View ArticleWhite Eagle Asset Portfolio – Files Plan and Disclosure Statement, Looks to...
March 13, 2019 – The Debtors filed a Plan and a related Disclosure Statement [Docket Nos. 165 and 166]. This is an unusual Plan in that the Debtors insist that there are no impaired classes (although...
View ArticleBeavEx Holding Corporation – Court Approves Bidding Procedures, Bid...
March 14, 2019 – The Court hearing the BeavEx Holding Corporation case issued an order [Docket No. 151] authorizing (i) the Debtors’ proposed bidding procedures in respect of a potential section 363...
View ArticleLBI Media – Trustee USBNA Continues to Voice the Deep Dissatisfaction of...
March 14, 2019 – The U.S. Bank National Association (“USBNA”), in its capacity as trustee in respect of certain of the Debtors' notes included in classes 4 and 5 of the Debtors’ Plan, filed a pair of...
View ArticlePHI, Inc. – Helicopter Services Company Files Chapter 11 to Avoid Looming...
March 14, 2019 − At 11:45pm (moments before a March 15, 2019 maturity date in respect of $500mn in unsecured senior notes) PGI, Inc. and four affiliated Debtors (“PHI” or the “Company”) filed for...
View ArticleSynergy Pharmaceuticals – U.S. Trustee Joins Chorus of Objections to Equity...
March 15, 2019 – The U.S. Trustee assigned to Synergy Pharmaceuticals cases objected to the retention of Houlihan Lokey Capital, Inc. (“Houlihan”) as financial advisor and investment banker to the...
View Article