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Wet Seal Bankrupt–Again

Privately-held Wet Seal and two affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 17-10229. The Company, which provides...

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Vanguard Natural Resources Chapter 11 Bankruptcy Petition Filed

Vanguard Natural Resources and 13 affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 17-30560. The Company, which...

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SunEdison 363 Sale Approved

The U.S. Bankruptcy Court approved SunEdison’s motion for an order (a) approving the sale of certain equity interests in seven Minnesota projects free and clear to purchaser AES Distributed Energy, (b)...

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NephroGenex PSA Approval Sought

NephroGenex filed with the U.S. Bankruptcy Court a motion for an order authorizing the Debtor’s entry into a plan support agreement (PSA) with Medpace. The PSA motion explains, “The Term Sheet...

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Breitburn Energy Partners Compensation Program Approvals Sought

Breitburn Energy Partners filed with the U.S. Bankruptcy Court a motion for an order approving Debtors’ 2017 retention and incentive programs for certain key employees. The motion explains, “By this...

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Illinois Power Generating Bankruptcy Plan Effective & Summarized

Illinois Power Generating Company’s Prepackaged Chapter 11 Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed the Plan on...

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Walter Energy Bankruptcy Liquidation Approved

The U.S. Bankruptcy Court approved Walter Energy’s motion for an order (a) converting the Debtors’ Chapter 11 reorganization case to a liquidation under Chapter 7 and (b) granting related relief. The...

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Energy Future Holdings Objections Filed

The U.S. Trustee assigned to the Energy Future Holding (EFH) case and Somervell County filed with the U.S. Bankruptcy Court separate objections to EFH’s Seventh Amended Joint Plan of Reorganization as...

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Pinnacle Operating Distressed Debt Exchange

On February 1, 2017, S&P Global Ratings lowered its corporate credit rating on Pinnacle Operating Corporation to CC from CCC. “Pinnacle has announced a proposed exchange offering in which its...

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Eastern Outfitters Chapter 11 Bankruptcy Petition Filed

Privately-held Eastern Outfitters (f/k/a Subortis Retail Group) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 17-10243. The Company, which...

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Hancock Fabrics Extension Sought

Hancock Fabrics 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...

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Bonanza Creek Energy Trustee or Examiner Sought

Bonanza Creek’s ad hoc committee of equity security holders filed with the U.S. Bankruptcy Court a motion for an order (i) appointing a Chapter 11 trustee, pursuant to Section 1104(a) of the Bankruptcy...

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Performance Sports Group Monitor Report Filed

Performance Sports Group’s monitor in the Canadian proceedings filed with the U.S. Bankruptcy Court a notice of filing of sixth report. The notice states, “In summary, the Monitor is of the view that:...

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Modular Space Holdings Bankruptcy Plan Filed

Modular Space Holdings filed with the U.S. Bankruptcy Court a Joint Prepackaged Plan of Reorganization. According to documents filed by the Court, “The Management Agreement Claims shall be Allowed on...

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Ultrapetrol Bahamas Prepackaged Chapter 11 Bankruptcy

Ultrapetrol Bahamas and more than 30 affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 17-22168. The Company,...

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Violin Memory PSA Approval Sought

Violin Memory filed with the U.S. Bankruptcy Court a motion for an order authorizing its entry into and performance under a plan sponsor agreement (PSA). The motion explains, “With broad support from...

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DirectBuy Holdings Objection Filed

The U.S. Trustee assigned to the DirectBuy Holdings case filed with the U.S. Bankruptcy Court an objection to THE Debtors’ motion for an order authorizing the sale of all or substantially all of the...

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4Licensing Bankruptcy Plan Effective, Summarized

4Licensing’s Combined Chapter 11 Plan of Reorganization and Disclosure Statement became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed the Plan on...

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Erickson Bankruptcy Plan Filed, Disclosure Statement Approved

Erickson filed with the U.S. Bankruptcy Court a Second Amended chapter 11 plan of Reorganization and related Disclosure Statement. According to the Disclosure Statement, “The Plan provides for the...

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Stone Energy Emergency Motion Filed

Stone Energy filed with the U.S. Bankruptcy Court an emergency motion to approve the Company’s (i) entry into and performance under settlement agreement with Ridgetop Capital and (ii) the assumption...

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