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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...

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Dakota 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...

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Stone 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...

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LINN 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...

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Nortel 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...

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Multimedia 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...

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Peabody 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...

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Republic 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...

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Magnetation 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...

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Xtera 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...

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SunEdison 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...

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Basic 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...

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Ultra 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...

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Hampshire 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...

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Erickson 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...

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Triangle 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...

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Steinway 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...

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Modular 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...

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Breitburn 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...

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Hampshire 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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