December 29, 2021 – The Debtors' Official Committee of Unsecured Creditors (the “Committee”) has objected to the Debtors’ proposed debtor-in-possession ("DIP") financing facility, arguing that the Debtors, at the behest of the "many-hatted" DIP lender (American Industrial Partners, Ltd. or "AIP," also a prepetition lender and the Debtors' stalking horse ), are requesting financing arrangements…

December 28, 2021 – The Debtors filed a motion to extend (for a seventh time) the periods during which they have an exclusive right to file a Plan, and solicit acceptances thereof, through and including March 22, 2022 and June 21, 2022, respectively [Docket No. 953]. Absent the requested relief, the Plan filing and solicitation…

December 23, 2021 – The Court hearing the Strike cases issued an order (i) approving bidding procedures for the sale of substantially of the Debtors’ assets (the “Sale”), (ii) authorizing the Debtors to enter into a stalking horse asset purchase agreement with Strike Acquisition LLC (the “Stalking Horse Bidder”) including provisions as to a $1.5mn…

December 22, 2022 – Further to the Court’s August 31st bidding procedures order [Docket No. 141] and an auction held on December 20th, the Court hearing the GBG USA cases approved the sale of the Debtors' Sean John assets (cash purchase price of $7.551mn plus certain "Assumed Liabilities") to SLC Fashion LLC (the “Purchaser”) [Docket…

December 21, 2021 – The Debtors recently appointed Official Committee of Unsecured Creditors (the “Committee”) filed a limited objection to the Debtors' bidding procedure motion [Docket No. 248], arguing that as proposed the Debtors' bidding procedures "would result in an extraordinarily expedited sale process largely dictated by the milestones imposed on the Debtors by their…

December 20, 2021 – The Court hearing the EHT US1 cases confirmed the Plan Proponents* Modified First Amended Joint Plan of Liquidation [Docket No. 1874]. * The Debtors, the Official Committee of Unsecured Creditors appointed in the Chapter 11 Cases (the “Committee”), and Bank of America, N.A. (the “Prepetition Agent”), in its capacities as administrative…

December 16, 2021 – In advance of their December 20th confirmation hearing, the Debtors have filed (i) a modified First Amended Plan which attaches a blackline showing changes to the version filed on November 1, 2021 [Docket No. 1851], (ii) a memorandum of law in support of Plan confirmation (the  "Memorandum") [Docket No. 1840], (iii)…

December 15, 2021 – The Court hearing the MTPC cases has extended the periods during which the Debtors have an exclusive right to file a Chapter 11 Plan, and solicit acceptances thereof, through and including January 21, 2021 and April 22, 2022, respectively [Docket No. 925]. Absent the requested relief, the Plan filing and solicitation…

December 15, 2021 – The Court hearing the Brazos Electric Power Cooperative cases has extended (for a second time) the periods during which the Debtors have an exclusive right to file a Plan and solicit acceptances thereof, through and including March 28, 2022 and May 25, 2022, respectively [Docket No. 1393]. Absent the relief, the…