October 30, 2020 – Pacific Drilling S.A. and 18* affiliated Debtors (NYSE: PACD; “Pacific” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Texas, lead case number 20-35212. The Debtors, an operator of seven drillships (with the lead Debtor organized under the laws of the Grand Duchy…

October 28, 2020 – The Debtors filed an executed asset purchase agreement (the "APA") relating to the sale of (i) their "OpCo" assets to Copper Retail JV LLC (an entity controlled by Simon Property Group and Brookfield Property Group, the “OpCo Purchaser”) and (ii) their "PropCo" assets to Copper BidCo LLC (a new entity to be…

October 29, 2020 – The Debtors filed a Chapter 11 Plan of Liquidation and a related Disclosure Statement [Docket Nos. 410 and 411, respectively]; and further filed a motion requesting Court approval of (i) the Disclosure Statement (conditionally), (ii) proposed Plan solicitation and voting procedures and (iii) a proposed timeline culminating in a December 17th…

October 29, 2020 – The Debtors filed a Chapter 11 Plan of Liquidation and a related Disclosure Statement [Docket Nos. 1154 and 1155, respectively]; and further filed a motion requesting Court approval of (i) the Disclosure Statement, (ii) proposed Plan solicitation and voting procedures and (iii) a proposed schedule culminating in a December 23rd Plan…

October 29, 2020 – The Court hearing the Hertz Corporation cases issued an order authorizing the Debtors to access $1.65bn of new money debtor-in-possession (“DIP”) financing to be provided by the majority holders of the aggregate outstanding amount of the Debtors’ prepetition first-lien debt (the “Commitment Parties”) [Docket No. 1661]. The go ahead on the…

October 29, 2020 – The Court haring the Cinemex USA Real Estate Holdings, Inc. cases issued an order approving (i) the Debtors’ Disclosure Statement, (ii) proposed Plan solicitation and voting procedures and (iii) a timetable culminating in a November 24, 2020 Plan confirmation hearing [Docket No. 777]. Also on October 29th, the Debtors filed solicitation…