November 26, 2020 – The Debtors have requested Court approval of a proposed $540.0mn private sale of their remaining businesses, which include the Lane Bryant brand and the Premium business segment (the latter comprised of Ann Taylor, LOFT, and Lou & Grey) to Premium Apparel LLC (the “Buyer”), an affiliate of Sycamore Partners Management, L.P….

November 25, 2020 – The Debtors filed a motion requesting Court approval of (i) their Disclosure Statement, (ii) proposed Plan solicitation and voting procedures and (iii) a proposed schedule culminating in a February 4th Plan confirmation hearing [Docket No. 612]. On November 6, 2020, the Debtors filed the a Chapter 11 Plan of Reorganization and…

November 27, 2020 – An ad hoc group of term loan lenders claiming to hold a majority of amounts outstanding under the Debtors' November 2013 First Lien Loan Agreement (the “Ad Hoc Term Lender Group”) have filed an emergency motion to block the already Court approved $84.7mn sale of substantially all of the Debtors’ assets…

November 25, 2020 – Further to an October 16th bidding procedures order [Docket No. 252] and a November 25th sale hearing, the Court hearing the Arandell Holdings cases approved the sale of substantially all of the Debtors' assets to Arandell Acquisition Company, LLC (“AAC,” a special purpose vehicle formed and managed by Saothair Capital Partners…

November 25, 2020 – The Court hearing the Debtors’ cases issued an order approving the Debtors' (i) Disclosure Statement (conditionally), (ii) proposed Plan solicitation and voting procedures and (iii) proposed timetable culminating in a December 23rd Plan confirmation hearing hearing [Docket No. 480].  The Debtors, a comprehensive dental practice support services company, filed for Chapter…

October 29, 2020 – The Court haring the Cinemex USA Real Estate Holdings, Inc. cases issued an order confirming the Debtors' Third Amended Plan of Reorganization [Docket No. 936]. On April 26, 2020, Cinemex Holdings USA, Inc. and one affiliated Debtor (dba "CMX Cinema," "CMX” or the “Debtors”) filed for Chapter 11 protection with the…

November 25, 2020 – The Court hearing the Murray Metallurgical Coal Holdings cases confirmed the Debtors’ Third Amended Chapter 11 Plan [Docket No. 798]. On February 11, 2020, Murray Metallurgical Coal Holdings, LLC and five affiliated Debtors (“Met Holdings” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern…

November 25, 2020 – The Court hearing the Dean & DeLuca New York cases confirmed the Debtors’ Fifth Modified Chapter 11 Plan of Reorganization [Docket No. 445]. On March 31, 2020, Dean & DeLuca New York, Inc. and six affiliated Debtors (“Dean & DeLuca” or the “Debtors”) filed for Chapter 11 protection with the U.S….

November 24, 2020 – The Debtors filed a First Amended Plan of Liquidation and a related Disclosure Statement [Docket Nos. 1260 and 1261, respectively] and further filed blacklines showing changes to the versions of those documents filed on October 29, 2020 [Docket Nos. 1263 and 1267].  Also on November 24th, the Court hearing the Lucky’s…

On November 24, 2020, Moody's Investors Service downgraded its corporate family rating on Air Canada to Ba3 from Ba2, its probability of default rating to Ba3-PD from Ba2-PD and its senior unsecured notes rating to B2 from Ba3. "Today's downgrade of Air Canada's ratings reflects our expectation of high leverage and that the return to…