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March 22, 2023 – The Debtor's Official Committee of Unsecured Creditors (the “Committee”) objected to the Debtor’s March 20th motion to convert its Chapter 11 case to a case under Chapter 7 [Docket No. 379] arguing that its "extensive negotiations with Goli…are likely to pave the path toward a settlement of claims and a value-maximizing…

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March 22, 2023 – Further to a March 8th bidding procedures order [Docket No. 351] and an auction held on March 21st, the Debtors notified the Court that Winning Bidders had been designated in respect of a majority of their 90 restaurant locations (several did not have bids) and that the Debtors’ stalking horse 13th…

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March 22, 2023 – Amsterdam House Continuing Care Retirement Community, Inc. (d/b/a as “The Amsterdam at Harborside,” “AHCCRC” or the “Debtor”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Eastern District of New York, lead case No. 23-70989 (Judge Alan S. Trust). The Debtor, "a best-in-class senior living community which is…

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March 21, 2023 – The Court hearing the Starry Group Holdings cases issued an order: (i) approving bidding procedures in relation to the sale of substantially all of the Debtors’ assets and/or Reorganized Equity (the “Reorganized Equity”), (ii) authorizing the Debtors to enter into a stalking horse arrangement (none selected yet) and (iii) adopting a…

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March 21, 2023 – The Court hearing the Stimwave Technologies cases issued an order confirming the Debtors’ Second Amended Plan of Liquidation [Docket No. 791]. In a related development, on March 9th, the Debtors' former CEO Laura Perryman was arrested in Florida and charged with one count of healthcare fraud* and one count of conspiracy…

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March 21, 2023 – Further to agreements reached at a March 16th Plan confirmation hearing (as reflected in the March 17th Plan and amended confirmation order, see below), the Court hearing the Times Square JV cases issued an order confirming the Debtors’ Third Amended Plan of Reorganization [Docket No. 260]. Case Evolution On December 28,…

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University bookstore operator Barnes and Noble Education (BNED) hired Houlihan Lokey according to a report by Bloomberg.  The article cited declining college enrollments and loans maturing later next year as catalysts for the engagement. Barnes and Noble Education shares closed at $1.62 Monday, giving the company a market capitalization of $85 Million. Barnes and Noble Education…

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March 17, 2023 – In advance of a March 20th hearing, the Debtors (in conjunction with their credit bidding stalking horse, the "Stalking Horse Bidder*") filed a further revised stalking horse asset purchase agreement (the “APA”) [Docket No. 240, with the revised APA and a related redline attached] which they assert addresses issues raised by…

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BOSTON–(BUSINESS WIRE)–Pear Therapeutics, Inc. (Nasdaq: PEAR) (“the Company”), the leader in developing and commercializing software-based medicines called prescription digital therapeutics (PDTs), today announced that it is engaged in a process to explore strategic alternatives to maximize shareholder value. The Company has engaged MTS Health Partners, L.P. to act as the Company’s exclusive financial advisor to…

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March 13, 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 June 5, 2023 and August 4, 2023, respectively [Docket No. 1405]. Absent the requested relief, the Plan filing…