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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....

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Puerto 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...

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Unilife 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...

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Golfsmith 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...

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Implant 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...

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Paragon 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...

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Ignite 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...

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rue21 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...

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Vanguard 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,...

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Hancock 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’...

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Nuverra 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...

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Paragon 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...

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SunEdison 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...

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BioNitrogen 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,...

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Ignite 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...

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Tidewater 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...

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Abengoa 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...

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SunEdison 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...

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Otterbourg 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...

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China 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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