Possible U.S. Bankruptcy Filing
On December 14, 2016, Ocean Rig UDW Inc. announced its unaudited financial and operating results for the quarter ended September 30, 2016. According to the announcement, the Company continues to...
View ArticleDakota Plains Holdings Chapter 11 Petition Filed
Dakota Plains Holdings and six affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Minnesota, lead case number 16-43711. The Company, which transloads...
View ArticleStone Energy Equity Committee Appointment Denied
The U.S. Bankruptcy Court issued an agreed order resolving Stone Energy’s ad hoc committee of shareholders’ motion to appoint an official committee of equity security holders. The Court issued a...
View ArticleLINN Energy Extension Sought
LINN Energy filed with the U.S. Bankruptcy Court a motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including May...
View ArticleNortel Networks Compromise Approval Sought
Nortel Networks filed with the U.S. Bankruptcy Court a motion to approve a compromise and settlement agreement by and among the Debtors and the Pension Benefit Guaranty Corporation with respect to PBGC...
View ArticleMultimedia Platforms Financing Approved
The U.S. Bankruptcy Court approved, on a final basis, Multimedia Platforms’ emergency motion for authority to obtain post-petition financing. As previously reported, “Following hearings conducted by...
View ArticlePeabody Energy Bankruptcy Plan Filed
Peabody Energy filed with the U.S. Bankruptcy Court a Joint Chapter 11 Plan of Reorganization and related Disclosure Statement. According to the Disclosure Statement, “The Restructuring contemplated by...
View ArticleRepublic Airways Holdings Extension Sought
Republic Airways Holdings filed with the U.S. Bankruptcy Court a second motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through...
View ArticleMagnetation Sale Approved
The U.S. Bankruptcy Court approved Magnetation’s motion for an order (i) authorizing entry into and performance under an asset purchase agreement (APA) by and among the Debtors, MG Initial Purchaser...
View ArticleXtera Communications Financing Approved
The U.S. Bankruptcy Court issued a final order approving Xtera Communications’ D.I.P. financing motion. As previously reported, “The D.I.P. facility consists of super-priority post-petition financing...
View ArticleSunEdison Settlement Approval Sought
SunEdison filed with the U.S. Bankruptcy Court a motion for an order approving a settlement by and between the Debtors and Albemarle Corporation. The motion notes, “The Utilities Claim shall be an...
View ArticleBasic Energy Services Bankruptcy Plan Effective
Basic Energy Services’ First Amended Joint Prepackaged Chapter 11 Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed the...
View ArticleUltra Petroleum Bankruptcy Trustee Sought
Ultra Petroleum’s ad hoc committee of unsecured creditors filed with the U.S. Bankruptcy Court a motion for an order (i) appointing a Chapter 11 trustee or (ii) in the alternative, appointing...
View ArticleHampshire Group Sale Approval Sought
Hampshire Group filed with the U.S. Bankruptcy Court a motion for the sale of property free and clear of liens and for entry of orders (i) (a) approving bid procedures for the Debtors’ James Campbell...
View ArticleErickson Incorporated Plan Filed
Erickson Incorporated filed with the U.S. Bankruptcy Court a Chapter 11 Joint Plan of Reorganization and related Disclosure Statement. According to the Disclosure Statement, “The Plan provides for the...
View ArticleTriangle USA Petroleum Commitment Agreement Approval Sought
Triangle USA Petroleum (TUSA) filed with the U.S. Bankruptcy Court a motion for entry of an order authorizing and approving (i) (a) entry into the backstop commitment agreement and (b) payment of...
View ArticleSteinway Musical Instruments Downgraded by Moody’s
On December 22, 2016, Moody’s Investors Service downgraded Steinway Musical Instruments, Inc.’s corporate family rating to Caa1 from B2, probability of default rating to Caa1-PD from B2-PD and $300...
View ArticleModular Space Holdings Plan Modified
Modular Space Holdings filed with the U.S. Bankruptcy Court a notice of filing of technical modifications to the Debtors’ Joint Prepackaged Plan of Reorganization. The filing notes, “Article IV.G. of...
View ArticleBreitburn Energy Partners Extension Sought
Breitburn Energy Partners filed with the U.S. Bankruptcy Court a motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and...
View ArticleHampshire Group Objections Filed
The U.S. Trustee assigned to the Hampshire Group case and the official committee of unsecured creditors filed with the U.S. Bankruptcy Court separate objections to the Debtors’ motion to shorten notice...
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