8e14 Networks, Inc. – Cancels Auction and Designates Stalking Horse (also DIP...
October 17, 2022 – Further to a bidding procedures order [Docket No. 122], the Debtor notified the Court that, absent any further qualified bids beyond that of stalking horse bidder VMware, Inc.* (the...
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Talen Energy Supply LLC – Bank of New York Mellon Objects to Plan as...
October 17, 2022 – The Bank of New York Mellon (“BNYM*” or the “Trustee”) objected to the Debtors’ Disclosure Statement, arguing that it would fail to treat all members of Class 4 ("Unsecured Notes...
View ArticleGT Real Estate Holdings, LLC – Court Allows Extension of Exclusivity Periods...
October 18, 2022 – The Court hearing the GT Real Estate Holdings case has extended (for a first time) the periods during which the Debtor has an exclusive right to file a Chapter 11 Plan, and solicit...
View ArticleCalPlant I Holdco, LLC – Rice Straw MDF Manufacturere Seeks Authority for an...
October 19, 2022 – The Debtors requested Court authority to: (i) access $10.2mn in debtor-in-possession (“DIP”) financing and (ii) use cash collateral [Docket No. 423]. The DIP financing, provided by...
View ArticleCelsius Network Limited – Court Takes Bidding Procedures and Preferred Equity...
October 20, 2022 – The Court hearing the Celsius Network cases took "under submission" motions for (i) approval of the bidding procedures for the Debtors' proposed sale of their assets and (ii) to...
View ArticlePhaseBio Pharmaceuticals, Inc. – Developer of Promising Heart Drug...
October 23, 2022 – PhaseBio Pharmaceuticals, Inc. (Nasdaq: PHAS, “PhaseBio ” or the “Debtor”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case No....
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PhaseBio Pharmaceuticals, Inc. – Seeks $5.9mn in New Money DIP Financing from...
October 23, 2022 – The Debtor requested Court authority to: (i) enter into debtor-in-possession (“DIP”) financing arrangements with prepetition lender JMB Capital Partners Lending, LLC ("JMB" or the...
View ArticleLaForta – Gestao e Investimentos – Designate Operadora CICSA, S.A. de C.V. as...
November 1, 2022 – Further to the September 16th bidding procedures order [Docket No. 107] and apparently with only a single qualified bid beyond that of credit-bidding prepetition lenders (the...
View ArticleNorthwest Senior Housing Corporation – Trustee and Plan Sponsor UMB Bank...
November 2, 2022 – Trustee and Plan Sponsor UMB Bank, N.A. ("UMB") * filed a bidding procedures motion requesting (i) approval of bidding procedures in relation to the sale of substantially all of the...
View ArticleStorCentric, Inc. – With Support of Newlight Capital, Enceladus Development...
November 4, 2022 – The Court hearing the StorCentric cases issued an order approving $35.2mn sale of substantially all of the Debtors’ assets to Enceladus Development Venture III, LLC ("Enceladus" or...
View Article5280 Auraria, LLC – Seeks $1.5mn of Post-Petition Loans from Entity...
November 4, 2022 – The Debtor requested Court authority to enter into a $1.5mn Post-Petition Loan Agreement (the “Agreement”) with SP 180 Fund, LLC (“Lender”)*[Docket No. 227, with a form of the...
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Fast Radius, Inc. – Cloud Manufacturer, Facing Uncertainty as to Financing...
November 8, 2022 – The Debtors filed a motion seeking a bidding procedures order that would: (i) approve bidding procedures in relation to the sale of substantially all of the Debtors’ assets, (ii)...
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Madison Square Boys & Girls Club, Inc. – With Concerns as to Execution Risk...
November 10, 2022 – The Court hearing the Madison Square Boys & Girls Club case issued an order authorizing the Debtor to access $11.0mn in alternative debtor-in-possession (“DIP”) financing being...
View ArticleExpressJet Airlines LLC – Court Approves $9mn Sale of Embraer Parts to...
November 10, 2022 – The Court hearing the ExpressJet Airlines case issued an order approving sale of the Debtor’s inventory, consisting of Embraer ERJ 145 and E175 parts, tooling, and ground support...
View ArticleFTX Trading Ltd – The FTX Group Files Chapter 11 with Over $10bn in...
[Just filed. Developing Story.] November 11, 2022 – FTX Trading Ltd. (dba FTX.com), West Realm Shires Services Inc. (dba FTX US), Alameda Research Ltd and approximately 130 other affiliated companies...
View ArticleLaForta – Gestao e Investimentos – Designates Operadora CICSA, S.A. de C.V....
November 1, 2022 – Further to the September 16th bidding procedures order [Docket No. 107] and apparently with only a single qualified bid beyond that of credit-bidding prepetition lenders (the...
View ArticleCalifornia-Nevada Methodist Homes – Finding that New Triangular Deal...
November 15, 2022 – The Court hearing the California-Nevada Methodist Homes case issued an order [Docket No. 589] authorizing the Debtor to amend the terms of its already Court-approved $34.0mn sale to...
View ArticleFTX Trading Ltd – [Update] New FTX CEO John J Ray III Blasts Legacy Governace...
November 17, 2022 – In a declaration filed in support of first day filings [Docket No. 24], the Debtors’ newly minted CEO, John J. Ray III, provides his chilling initial impressions as to the...
View ArticleClaim Jumper Acquisition Company, LLC – Files Motion Seeking Approval of...
November 17, 2022 – The Debtors filed a motion requesting each of a bidding procedures order, a sale order and a dismissal order [Docket No. 179]. The bidding procedures order would: (i) approve...
View ArticleWinc, Inc. – Direct-to-Consumer Wine Specialist Files for Bankruptcy; Looks...
[Just filed. Developing story.] December 1, 2022 – Winc, Inc. and two affiliated debtors (NYSE American: WBEV; together “Winc” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy...
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