[Just filed. Developing story] January 29, 2023 –  Privately held Cleveland Integrity Services, Inc.and one affiliate debtor (“CIS“ or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 23-90052 (Judge Christopher M. Lopez). The Cleveland, Oklahoma based Debtors, who offer "a complete range…

January 26, 2023 – The Debtors’ Official Committee of Unsecured Creditors (the “Committee”) objected to the Debtors’ ability to draw down the $22.5mn balance* of a $75.0mn debtor-in-possession (“DIP”) financing facilty being provided by certain prepetition secured lenders [Docket No. 363], arguing that, “the Debtors do not require any additional financing beyond the $37.5 million…

January 25, 2023 – The Debtors filed a motion to extend (for a second time) the periods during which they have an exclusive right to file a Chapter 11 Plan and solicit acceptances thereof, through and including March 31, 2023 and June 30, 2023, respectively [Docket No. 1940]. Absent the requested relief, the Plan filing…

January 24, 2023 – The Debtors' Official Committee of Unsecured Creditors (the “Committee”) and the Official Committee of Opioid Claimants (the “OCC,” and with the Committee, the "Official Committees") have filed a motion [Docket No. 1243] that would grant "the Official Committees derivative standing to commence and prosecute certain claims on behalf of the Debtors’…

January 25, 2023 – The Debtors’ Officials Committee of Unsecured Creditors (the “Committee”) objected to the adequacy of the Debtors' Disclosure Statement, arguing that it fails to adequately inform creditors in respect of what is otherwise an unconfirmable Plan, admonishing the Debtors with words that may (or may not be) Moliere's: “Unreasonable haste is the…

January 23, 2023 – Serta Simmons Bedding, LLC and 13 affiliate debtors (“SSB“ or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 23-90020 (Judge David R. Jones). The Doraville, Georgia based Debtors, “one of the leading global sleep companies,” are represented by…

January 20, 2023 – The Debtor filed a motion to extend (for a third time) the periods during which it has an exclusive right to file a Plan and solicit acceptances thereof, through and including July 31, 2023 and September 29, 2023, respectively [Docket No. 630]. Absent the requested relief, the Plan filing and solicitation…

January 22, 2023 –  Privately held AD1 Urban Palm Bay, LLC and 12 affiliate debtors* ("AD1 Urban" or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 23-10074 (Judge Karen B. Owens). The Debtors, managers/franchisees of hotel properties in Florida, are represented by Ian…

January 19, 2023 –  Genesis Global Holdco, LLC and two affiliate debtors (“Genesis," “GGH” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 23-10063 (Judge Sean Lane). The Debtors, “an industry pioneer and digital currency prime brokerage*," are represented by Sean…

January 18, 2023 – The Court hearing the Madison Square Boys & Girls Club case has extended the periods during which the Debtor has an exclusive right to file a Chapter 11 Plan, and solicit acceptances thereof, through and including March 13, 2023 and May 12, 2023, respectively [Docket No. 356]. Absent the requested relief,…