September 22, 2021 – Further to the Court's September 15th bidding procedures order [Docket No. 198], the Debtors have now filed a motion seeking authority to enter into a stalking horse arrangements with Cerberus South American Investments, LLC ("Cerberus") in respect of the sale certain of "certain loans in the Sellers’ loan portfolio and certain…
September 16, 2021 – The Debtors filed a Second Amended Joint Chapter 11 Plan of Reorganization and separately filed a redline showing changes to the version filed on August 18, 2021 [Docket Nos. 430 and 431, respectively]. The amendments to the Plan almost exclusively relate to the removal of terms made redundant by the Debtors'…
September 16, 2021 – Further to a September 15th auction, the Debtors have filed a notice of successful bidders [Docket No. 366] which designates the winning bidder in respect of each of three asset sale groupings. Also filed was the the asset purchase agreements of Ranger Energy Acquisition, LLC (“Ranger”) [Docket No. 368] which has…
September 16, 2021 – Further to a September 15th auction, the Debtors have filed a notice (i) naming Saadia Group LLC ("Saadia") as the Successful Bidder for its "Aquatalia Assets" and (ii) adjourned the auction with respect to their "Other Assets" (notably the Debtors’ Ely & Walker and Sean John brands) from September 15th until…
September 15, 2021 – The Court hearing the Avianca Holdings cases issued an order approving (i) the Debtors’ Disclosure Statement, (ii) proposed Plan solicitation and voting procedures and (iii) a proposed timetable culminating in an October 26, 2021 Plan confirmation hearing [Docket No. 2136]. Subsequent to approval of the Disclosure Statement, the Debtors filed solicitation…
September 14, 2021 – The Debtor filed a motion requesting each of a bidding procedures order and a sales order [Docket No. 94]. The bidding procedures order would (i) approve proposed bidding procedures for a sale of substantially all of the Debtor's assets (the "Sale"), including bidder protections for a (not yet selected) stalking horse…
September 13, 2020 – The Debtors filed a motion requesting Court authority to (i) enter into a September 12th Consulting Agreement with B. Riley Retail Solutions, LLC (the “Consultant”) and (ii) begin "clearance and consignment sales" efforts [Docket No. 40]. The motion states "to be clear, the contemplated Sales are not ‘going out of business’, ‘liquidation’…
September 9, 2021 – Further to the Court's July 29th order refusing to approve the Debtors' Disclosure Statement because the underlying Plan "fails to satisfy section 1129(a)(9) [ie pay holders of adminsitartive claims] of the Bankruptcy Code and is therefore patently unconfirmable,” the Debtors have now filed a motion to dismiss their Chapter 11 cases…
September 8, 2021 – The Court hearing the Easterday Ranches cases issued an order (i) authorizing the Debtors to designate Blue Tag Farms, LLC as the stalking horse bidder (the "Stalking Horse Bidder," purchase price $14.0mn) in respect of the Debtors' farm equipment and related personal property (collectively, the “Equipment”), (ii) authorizing the Debtors to…
September 8, 2021 – A.B.C. Carpet Co., Inc and two affiliated debtors (dba as ABC Carpet & Home; “A.B.C. Carpet” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 21-11591 (Judge David Jones). The Debtors, "a mission-driven home and lifestyle brand…
