August 18, 2021 – The Court hearing the Avianca Holdings cases issued an order authorizing the Debtors to enter into amendments to their previously approved debtor-in-possession (“DIP”) financing arrangements which effectively replace the Debtors' existing $1.43bn Tranche A DIP Facility with a new $1.6bn New Tranche A DIP/Exit Facility [Docket No. 2032]. The new DIP…

August 11, 2021 – The Court hearing the CBL & Associates Properties cases has confirmed the Debtors’ Third Amended Plan of Reorganization [Docket No. 1397]. In a press release heralding confirmation of the Plan, the Debtors provide: "CBL received overwhelming support for the Plan, with over 95% of votes cast for all classes voted in…

August 5, 2021 – Further to a July 8th bidding procedures order [Docket No. 289] and absent the receipt of any qualified bids by an August 4th bid deadline, the Debtors notified the Court that had cancelled a scheduled August 6th auction. With asset sale aspirations effectively concluded, the Debtors will now "proceed to seek…

August 5, 2021 – The Court hearing the Bouchard Transportation cases issued a pair of orders approving (i) the sale of the Debtors' “Wells Fargo Collateral” (vessels encumbered by the prepetition Wells Fargo loans) to Pennantia LLC (a consortium comprised of Wells Fargo, "real asset special situations investment platform" Rose Cay GP, LLC and distressed…

August 3, 2021 – Further to the Court’s June 8th bidding procedures order [Docket No. 956] and the completion of an auction which commenced on July 19th, the Debtors have now filed an executed asset purchase agreement in respect of their Wells Fargo Assets (vessels encumbered by prepetition Wells Fargo loans, the “Pennantia APA”) amongst…

August 1, 2021 – Alpha Latam Management, LLC and six affiliated Debtors (dba AlphaCredit, “Alpha Latam” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 21-11109 (Judge TBD). The Debtors, "a technology-enabled financial services company that have historically provided consumer lending products in…