November 9, 2019 – With the clock ticking towards a November 12th Plan confirmation hearing,the Debtors have changed restructuring paths, yet again. Having surprised their creditors with an eleventh hour announcement heralding a toggle to an asset sale; they have now toggled back to an equitization transaction; apparently unable to drum up sufficient support from…

November 8, 2019 − Arsenal Resources Development LLC and 16 affiliated Debtors (“ARD” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-12347. The Debtors, an independent exploration and production company engaged in the acquisition and development of unconventional natural gas resources in…

November 6, 2019 –  The Court hearing the SportCo Holdings cases has confirmed the Debtors' Fourth Amended Combined Chapter 11 Plan of Liquidation [Docket No. 525]. The Debtors also filed the lightlty revised Fourth Amended Combined Chapter 11 Plan of Liquidation and Disclosure Statement at Docket No. 521.  The Debtors' confirmed Plan of Liquidation marks…

November 5, 2019 – The Debtors notified the Court that their Amended Joint Chapter 11 Plan of Reorganization had become effective as of November 5, 2019. [Docket No. 447] The Plan was confirmed on October 24, 2019 [Docket No. 432].  On July 9, 2019, Stearns Holdings, LLC and six affiliated Debtors (together, “Stearns” or the…

November 4, 2019 − Fleetwood Acquisition Corp. and two affiliated Debtors (d/b/a Fleetwood Fixtures, “Fleetwood” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-12330. The Debtors, a provider of custom retail fixtures, furnishings and related strategic services, are represented by Erin R….

October 31, 2019 – Further to an October 31st sale hearing, the $271.4mn sale of substantially all of the Debtors' assets to stalking horse ABG-Barneys, LLC ("ABG-Barneys") has been approved. ABG-Barneys is an acquisition vehicle created by Authentic Brands Group ("ABG") which owns over 50 brands including Nine West, Nautica and Hickey Freeman.  A sale…

October 31, 2019 – The Debtors notified the Court that their Joint Chapter 11 Plan of Reorganization had become effective as of October 31, 2019 [Docket No. 879]. The Court had previously approved the Debtors’ Joint Chapter 11 Plan of Reorganization on October 7, 2019 [Docket No. 825]. The Debtors also filed a Plan supplement…