Azure Midstream Partners Bankruptcy Plan Effective
Azure Midstream Partners’ Fifth Amended Joint Plan of Liquidation became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed the Plan on January 10, 2017....
View ArticlePuerto Rico Bankruptcy: Uncertainty But Also Investment Opportunity
Puerto Rico opened a new “chapter” in distressed securities investing when it filed for court protection in early May. However, in this case it is not a chapter of the U.S. Bankruptcy Code such as...
View ArticleUnilife Bankruptcy Objections Filed
The U.S. Trustee assigned to the Unilife case filed with the U.S. Bankruptcy Court an objection to the Company’s motion to retain Protiviti as financial advisor. The Trustee asserts, “Although...
View ArticleGolfsmith International Holdings Extension Approved
The U.S. Bankruptcy Court approved Golfsmith International Holdings’ second motion to extend by 120 days its exclusive periods to file a Chapter 11 plan and solicit acceptances thereof through and...
View ArticleImplant Sciences Bankruptcy Compromise Approved
The U.S. Bankruptcy Court approved Implant Sciences’ official committee of equity security holders’ motion for entry of an order approving settlement agreement between the official committee of equity...
View ArticleParagon Offshore Exclusivity Extension Sought
Paragon Offshore 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...
View ArticleIgnite Restaurant Group Chapter 11 Bankruptcy
Ignite Restaurant Group and ten affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 17-33550. The Company, which...
View Articlerue21 Bankruptcy Objections Filed
Phillips Edison & Company, Ramco-Gershenson Properties filed with the U.S. Bankruptcy Court an objection to rue21’s motion for entry of final order authorizing the Debtors to assume the consulting...
View ArticleVanguard Natural Resources Bankruptcy Stipulation Filed
BP America Production filed with the U.S. Bankruptcy Court a stipulation and agreed order resolving Vanguard Natural Resources’ motion for relief from the automatic stay. The stipulation notes,...
View ArticleHancock Fabrics Objections Filed
Multiple parties – including Chubb Companies, Texas Ad Valorem Taxing Jurisdictions and the Internal Revenue Service (IRS) – filed with the U.S. Bankruptcy Court separate objections to Hancock Fabrics’...
View ArticleNuverra Environmental Solutions DIP Financing Approved
The U.S. Bankruptcy Court approved, on a final basis, Nuverra Environmental Solutions’ financing motion. As previously reported, “In an effort to continue operations and preserve estate value, the...
View ArticleParagon Offshore Bankruptcy Plan Confirmed
The U.S. Bankruptcy Court approved Paragon Offshore’s Fifth Joint Chapter 11 Plan. Under the Plan, Paragon Offshore’s existing equity will be deemed worthless and the Company’s secured creditors and...
View ArticleSunEdison Commitment Letter, Agreement Approved
The U.S. Bankruptcy Court approved SunEdison’s motion for entry of an order authorizing and approving (i) (a) its entry into a backstop commitment letter, (b) equity commitment agreement, (c) payment...
View ArticleBioNitrogen Holdings Bankruptcy Case Dismissed
The U.S. Bankruptcy Court issued an order granting Debtors’ motion to dismiss case. The order states, “The Court, having reviewed the Motion and having heard the argument of counsel at the Hearing,...
View ArticleIgnite Restaurant Group Sale Procedures Approval Sought
Ignite Restaurant Group filed with the U.S. Bankruptcy Court an emergency motion for entry of an order authorizing and scheduling an auction at which Debtors will solicit the highest or best bid for...
View ArticleTidewater Bankruptcy KERP Approval Sought
Tidewater filed with the U.S. Bankruptcy Court a motion for entry of an order approving non-insider retention payment for key employees. The motion explains, “Prior to the commencement of these chapter...
View ArticleAbengoa Bankruptcy Liquidation Plan Confirmed
The U.S. Bankruptcy Court confirmed Abengoa Bioenergy US Holdings’ Third Amended Joint Plans of Liquidation. As previously reported, “The Plan as currently proposed, including the proposed treatment of...
View ArticleSunEdison Bankruptcy Settlement Approval Sought
SunEdison filed with the U.S. Bankruptcy Court a motion for an order authorizing and approving directors and officers (D&O) mediation settlement agreement and D&O insurance cooperation...
View ArticleOtterbourg Additions Announced
Otterbourg P.C. announced that Keith N. Costa has joined the firm as a Member in the restructuring and bankruptcy practice, and Michael Wenger has joined the firm as Counsel in the banking and finance...
View ArticleChina Fishery Group Exclusivity Extension Revised
The U.S. Bankruptcy Court issued an a revised order approving China Fishery Group’s third motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit...
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