October 29, 2020 – The Court hearing the California Pizza Kitchen, Inc. cases confirmed the Debtors’ Second Amended Chapter 11 Plan of Reorganization [Docket No. 600].  On July 29, 2020, California Pizza Kitchen, Inc. and seven affiliated Debtors (“CPK” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern…

October 29, 2020 – The Court hearing the California Pizza Kitchen, Inc. cases confirmed the Debtors’ Second Amended Chapter 11 Plan of Reorganization [Docket No. 600].  On July 29, 2020, California Pizza Kitchen, Inc. and seven affiliated Debtors (“CPK” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern…

October 28, 2020 – The U.S. Trustee assigned to the Debtors' cases objected to the Debtors' Disclosure Statement [Docket No. 2427]. The U.S Trustee raises several interesting points which impact on these cases as well as on other asbestos-related cases. The U.S. Trustee's first objection centers on the Disclosure Statement's failure to note that section…

October 28, 2020 – In advance of their scheduled October 29th Plan confirmation hearing, the Debtors have filed a Second Amended Chapter 11 Plan of Reorganization which attaches a redline showing changes to the version of the Plan filed on October 1, 2020. The amendments do not materially alter the Plan as to classes and…

October 28, 2020 – The Court hearing the UTEX Industries cases has confirmed the Debtors’ Prepackaged Chapter 11 Plan [Docket No. 172]. On October 8, 2020, UTEX Industries, Inc. and eleven affiliated Debtors (“UTEX” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case…

October 28, 2020 – Further to a September 25th bidding procedures order [Docket No. 206], and absent any further qualified bids, the Debtors notified the Court that (i) the auction scheduled for October 29th had been canceled and (ii) Grouper Holdings, LLC (the “Stalking Horse Bidder,” an affiliate of MiddleGround Capital) had been designated the…

October 28, 2020 – The Court hearing the Rubio’s Restaurants, Inc. cases authorized the Debtors to (i) access $4.5mn in debtor-in-possession (“DIP”) financing on an interim basis from prepetition lender (fka, GCI Capital Markets LLC, "Golub") and (ii) use cash collateral [Docket No. 63]. The $3.5mn balance of the $8.0mn DIP financing package will be…

October 28, 2020 – The Court hearing the Vista Proppants and Logistics cases issued an order confirming the Debtors’ Fourth Amended Joint Chapter 11 Plan of Reorganization [Docket No. 717].  The Plan as approved includes several modifications from the version filed on October 26th; these modifications to settle outstanding objections with individual stakeholders and to…