Sears Holdings Corporation – ESL Claims “Litany of Breaches” of APA, Seeks...
May 25, 2019 – Transform Holdco ("Transform," owned by ESL Investments, Inc.) filed a complaint against the Debtors [Docket No. 4033] listing a "litany of breaches" of the January 17, 2019 asset...
View ArticleWhite Star Petroleum Holdings – Seeks $28.5mn in DIP Financing From First...
May 28, 2019 – The Debtors requested Court authority to (i) access $28.5mn in debtor-in-possession (“DIP”) financing ($15.0mn on an interim basis) to be provided by certain of the Debtors' prepetition...
View ArticleSears Holdings Corporation – Files Major Rewrite of Plan and Disclosure...
May 28, 2019 – The Debtors filed a Second Amended Plan and a related Disclosure Statement [Docket Nos. 4041 and 4042] and further filed redlines of each document showing changes from versions filed on...
View ArticleSpecialty Retail Shops Holding – Judge Sides with McKesson on Third Party...
May 29, 2019 – “Good luck guys.” With that Judge Thomas Saladino ended day two of the Debtors’ Plan confirmation hearing and left a stunned gathering of advisors to digest his refusal to confirm the...
View ArticlePHI, Inc. – U.S. Trustee Objects to Disclosure Statement as Release and...
May 30, 2019 – The U.S. Trustee assigned to the PHI, Inc. cases objected [Docket No. 576] to the Debtors' Disclosure Statement, raising concerns about "impermissible release and exculpation provisions"...
View ArticleHexion Holdings – Seeks Authority for Commitment and Engagement Letters in...
May 30, 2019 – The Debtors filed a motion requesting authority to enter into each of: (i) a commitment letter (the "Commitment Letter") in respect of a new $350.0mn ABL credit facility, (ii) an...
View ArticleFTD Companies, Inc. – Iconic Floral Delivery Company Files Chapter 11,...
June 3, 2019 – Publicly traded FTD Companies, Inc. (NASDAQ: FTD) and 14 affiliated Debtors (“FTD” or the “Debtors”) 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 MPC Plan Trust of the...
November 27, 2018 – Oak Point Partners acquired the remnant assets of the MPC Plan Trust of the Mississippi Phosphates Corporation, et al., Bankruptcy Estates in November 2018. On October 27, 2014,...
View ArticleSpecialty Retail Shops Holding Corp – Further to Plan Rejection, Files...
May 31, 2019 – Further to the Court's May 29th refusal to confirm the Debtors' Plan, the Debtors have now filed a Third Amended Plan and a motion requesting confirmation of that Plan [Docket No. 1495...
View ArticleFusion Connect, Inc. – Over-acquisitive, Under-performing Cloud Services...
June 3, 2019 − Fusion Connect, Inc. and 18 affiliated Debtors ("Fusion" or the "Debtors") filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case...
View ArticlePHI, Inc. – Equity Committee Objects to Debtors’ Disclosure Statement,...
June 3, 2019 – The Debtors' Official Committee of Equity Security Holders (the “Equity Committee”) objected viscerally [Docket No. 605] to the Debtors’ Disclosure Statement, citing numerous structural...
View ArticleO’BENCO IV LP – Texas E&P Investment Vehicle Files Chapter 11 Ahead of...
June 4, 2019 − O'BENCO IV LP ("O'BENCO" or the "Debtor") filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Eastern District of Texas, lead case number 19-60384. The Company, a...
View ArticleNew Cotai Holdings – PIK Noteholders Fire New Salvo in Silver Point “War”,...
June 4, 2019 – An ad hoc group (the “Ad Hoc Group”) of unaffiliated holders of the Debtors’ 10.625% Senior Pay-In-Kind Notes due 2019 (the “Notes”) objected [Docket No. 71] to the Debtors' motion...
View ArticleFTD Companies – Seeks $94.5mn in DIP Financing, $42.0mn on an Interim Basis,...
June 3, 2019 – The Debtors requested Court authority to (i) access $94.5mn in debtor-in-possession (“DIP”) financing ($42.0mn on an interim basis) and (ii) use cash collateral [Docket No. 19]. $27.5mn...
View ArticleWestmoreland Coal Company – Court Approves $300.0mn Credit Bid Sale of...
June 5, 2019 – The Court hearing the Westmoreland Coal Company case issued an order authorizing the Debtors to (i) enter into an asset purchase agreement (the "Credit Bid APA") with Kemmerer Operators,...
View ArticleWestmoreland Coal Company – Court Approves Disclosure Statement and Confirms...
June 5, 2019 – The Court hearing the Westmoreland Coal Company cases issued an order approving the WMLP Debtors' Disclosure Statement and confirming the Debtors' Amended Joint Plan of Liquidation for...
View ArticlePHI, Inc. – Announces Comprehensive Settlement Agreement with Creditors...
June 6, 2019 – Further to Court ordered mediation efforts led by Judge David R. Jones, the Debtors have announced a settlement with their Official Committee of Unsecured Creditors (“the UCC”) and...
View ArticleFTD Companies – Seek Approval for Bidding Procedures to Cover Range of...
June 6, 2019 – The Debtors filed a motion requesting each of a bidding procedures order and a sale order. The bidding procedures order would authorize the Debtors' to (i) adopt proposed bidding...
View ArticleOak Point Partners, LLC acquires remnant assets of the LaSalle Health...
December 6, 2018 – Oak Point Partners acquired the remnant assets of the LaSalle Health Service, Inc. Bankruptcy Estate in December 2018. On July 29, 2015, LaSalle Health filed a voluntary petition...
View ArticleINSYS Therapeutics, Inc. – Fentanyl Manufacturer Chased into Chapter 11 as...
June 10, 2019 − INSYS Therapeutics, Inc. (f/k/a Neopharm Inc.) and six affiliated Debtors ("INSYS" or the "Debtors") filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of...
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