July 22, 2021 – The Debtor requested Court authority to access $5.0mn of new money, debtor-in-possession (“DIP”) financing (including $1.0mn on an interim basis) from B.H. Capital Ventures, LLC (the “DIP Lender,” an affiliate of L.A.- based distressed property specialist BH Properties) [Docket No. 233] with a hearing to consider the financing now scheduled for…

July 21, 2021 – Further to the Court’s June 15th bidding procedure order [Docket No. 250] and an auction held on July 20, 2021, the Debtor designated Carmel Partners Realty VII, LLC ("Carmel," a $1.45bn fund established in 2019) as the successful bidder for its D.C. hotel assets, with 2660 Woodley Road NW (DC) Owner, LLC…

July 21, 2021 – The Debtors' Official Committee of Unsecured Creditors (the “Committee”) objected to the Debtors’ July 18th designation of Hartree Partners, LP ("Hartree") as a stalking horse bidder in respect of vessels which secure the Debtors' debtor-in-possession ("DIP") financing, taking particular exception to bidder protections in respect of Hartree's $110.0mn cash offer; including…

July 19, 2021 – The U.S. Trustee assigned to the Debtors' cases objected to the Debtors' Sixth Amended Plan of Reorganization [Docket No. 3256]. On the same day, a Court-appointed examiner filed a report [Docket No. 3285] that "found no evidence that the Sackler Families either attempted to, or did, influence the Special Committee in…

July 13, 2021 – Further to the Court’s June 7th bidding procedures order [Docket No. 256] and an auction held on June 30th [Docket No. 329], the Debtors have filed a revised executed asset purchase agreement (the “Boeing APA”) amongst the Debtors, the Boeing Company (“Boeing” or “Parent”) and Boeing’s acquisition vehicle Central Kansas Aerospace…

July 12, 2021 – Further to the Court’s June 7th bidding procedures order [Docket No. 256] and an auction held on June 30th [Docket No. 329], the Debtors have filed a revised executed asset purchase agreement (the “Boeing APA”) amongst the Debtors, the Boeing Company (“Boeing” or “Parent”) and Boeing’s acquisition vehicle Central Kansas Aerospace…

July 11, 2021 – The Debtors have filed a motion requesting authority to amend their Senior Secured Super-Priority Debtor-in-Possession Promissory Note (the “DIP Agreement”) pursuant to the terms of an Amendment No. 1 to that agreement (the “DIP Amendment,” a copy of which is attached as Exhibit 1 to a proposed order, itself attached to…

July 8, 2021 – Pipeline Foods, LLC and four affiliated Debtors (“Pipeline” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 21-11002 (Judge Owens). The Debtors, "the first U.S.-based supply chain solutions company focused exclusively on non-GMO, organic, and regenerative food and feed,"…

July 7, 2021 – An ad hoc committee of preferred shareholders (the “Ad Hoc Committee”) has objected to the Debtors' proposed bidding procedures [Docket No. 237] arguing that they "are merely a device to attain the fait accompli contemplated by Restructuring Support Agreement’s (‘RSA’) of enabling a small group of four debt holders to wipe…

July 6, 2021 – MatlinPatterson Global Opportunities Partners II L.P. and six affiliated Debtors (“MPII” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 21-11255 (Judge Jones). The Debtors, private investment funds with a focus on distressed investing, are represented by…