YogaWorks, Inc. – Court Approves $60k KERP for 17 Non-Insider Key Employees...
November 24, 2020 – The Court hearing the YogaWorks cases issued an order approving the Debtors’ proposed key employee retention plan (the “KERP”) covering 17 non-insiders at a maximum aggregate cost...
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Highland Capital Management, L.P. – Files Fourth (and then Fifth) Amended...
November 20, 2020 – The Debtors filed their Fourth Amended Plan of Reorganization and a related Disclosure Statement [Docket Nos. 1450 and 1453, respectively], and separately filed interim and...
View ArticleFirstEnergy Lowered on Aggressive Borrowing
On November 23, 2020, FirstEnergy Corp. and some of its regulated subsidiaries borrowed about $2 billion in the aggregate under its revolving credit facilities, leaving about $1.3 billion of remaining...
View ArticleLions Gate Entertainment lowered on High Leverage
On November 24, 2020, Moody's Investors Service downgraded its corporate family rating on Lions Gate Entertainment Corp. to B1 from Ba3, its probability of default rating to B1-PD from Ba3-PD and its...
View ArticleAir Canada Pressured by High Leverage
On November 24, 2020, Moody's Investors Service downgraded its corporate family rating on Air Canada to Ba3 from Ba2, its probability of default rating to Ba3-PD from Ba2-PD and its senior unsecured...
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Lucky’s Market Parent Company, LLC – Court Approves Disclosure Statement for...
November 24, 2020 – The Debtors filed a First Amended Plan of Liquidation and a related Disclosure Statement [Docket Nos. 1260 and 1261, respectively] and further filed blacklines showing changes to...
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Dean & DeLuca New York, Inc. – Court Confirms Thanksgiving Plan that Carves...
November 25, 2020 – The Court hearing the Dean & DeLuca New York cases confirmed the Debtors’ Fifth Modified Chapter 11 Plan of Reorganization [Docket No. 445]. On March 31, 2020, Dean & DeLuca...
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Murray Metallurgical Coal Holdings, LLC − Court Confirms Third Amended...
November 25, 2020 – The Court hearing the Murray Metallurgical Coal Holdings cases confirmed the Debtors’ Third Amended Chapter 11 Plan [Docket No. 798]. On February 11, 2020, Murray Metallurgical Coal...
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Cinemex USA Real Estate Holdings, Inc. – Court Confirms Plan of...
October 29, 2020 – The Court haring the Cinemex USA Real Estate Holdings, Inc. cases issued an order confirming the Debtors' Third Amended Plan of Reorganization [Docket No. 936]. On April 26, 2020,...
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Benevis Corp. – Court Approves Disclosure Statement (Conditionally) and...
November 25, 2020 – The Court hearing the Debtors’ cases issued an order approving the Debtors' (i) Disclosure Statement (conditionally), (ii) proposed Plan solicitation and voting procedures and (iii)...
View ArticleArandell Holdings, Inc. – Court Approves $33mn Sale of Debtors’ Assets to...
November 25, 2020 – Further to an October 16th bidding procedures order [Docket No. 252] and a November 25th sale hearing, the Court hearing the Arandell Holdings cases approved the sale of...
View ArticleTown Sports International, LLC – Ad Hoc Term Lender Group Files Emergency...
November 27, 2020 – An ad hoc group of term loan lenders claiming to hold a majority of amounts outstanding under the Debtors' November 2013 First Lien Loan Agreement (the “Ad Hoc Term Lender Group”)...
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RTI Holding Company, LLC – Seeks Approval of Disclosure Statement, Proposes...
November 25, 2020 – The Debtors filed a motion requesting Court approval of (i) their Disclosure Statement, (ii) proposed Plan solicitation and voting procedures and (iii) a proposed schedule...
View ArticleAscena Retail Group, Inc. – Seeks Approval for $540mn Private Sale of Lane...
November 26, 2020 – The Debtors have requested Court approval of a proposed $540.0mn private sale of their remaining businesses, which include the Lane Bryant brand and the Premium business segment...
View ArticleYouFit Health Clubs, LLC – Court Approves $75mn Sale to Credit Bidding...
December 28, 2020 – Further to its November 23rd bidding procedures order [Docket No. 136], the Court hearing the YouFit Health Clubs cases issued an order approving the sale of the Debtors’ assets to...
View ArticleUnipharma, LLC – Creditors’ Committee Ramps Up Pressure with Objection to DIP...
December 28, 2020 – The Debtors' Official Committee of Unsecured Creditors (the “Committee”) objected to the Debtors’ proposed debtor-in-possession ("DIP") financing arguing that as proposed the DIP...
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Valaris plc – Files Amended Plan and Disclosure Statement to Reflect Choice...
December 11, 2020 – The Debtors’ filed an Amended Plan of Reorganization and related Disclosure Statement showing changes to the versions filed on October 15, 2020 [Docket Nos. 787 and 788,...
View ArticleValaris plc – Seeks Authority for $25mn Sale of Mothballed Rig to Affiliate...
December 28, 2020 – The Debtors filed a motion seeking approval for the private $25.0mn sale of a jack-up rig (the "ENSCO 101" or the the "Rig") to Russian entity JSC Arktikmorneftegazrazvedka (the...
View ArticleRTI Holding Company, LLC – Seeks Approval of $1.97mn KEIP for 5 Senior...
December 28, 2020 – The Debtors requested Court approval of (i) a key employee incentive plan (“KEIP”) for 5 senior leadership employees with a maximum aggregate award amount of $1.97mn, consisting of...
View ArticleBainbridge Uinta Holdings, LLC – With Choice Pending Between Plan or Sale...
December 28, 2020 – The Court hearing the Bainbridge Uinta Holdings cases has extended the periods during which the Debtors have an exclusive right to file a Plan and solicit acceptances thereof,...
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