December 14, 2021 – In advance of their December 15th Disclosure Statement hearing, the Debtors have filed a (i) Modified Second Amended Plan of Reorganization (showing changes only) [Docket No. 322] and (ii) an addendum to their Second Amended Disclosure Statement [Docket No. 321]. As amended, the Plan now treats the disputed $62.2mn PanAm LOU…

December 14, 2021 – The Debtors’ filed a bidding procedures motion requesting Court approval of: (i) bidding procedures in respect of a sale of substantially all of the Debtors’ businesses, assets and equipment and certain of the Debtors’ accounts receivable (the "Sale" and “Acquired Assets,” respectively), (ii) bidder protections for stalking horse Texas Peaker Power…

December 13, 2021 – The Court hearing the Advantage Holdco cases confirmed the Debtors’ Second Amended Plan of Liquidation (filed in conjunction with their Official Committee of Unsecured Creditors, or the “Committee,” and together with the Debtors, the “Plan Proponents”) [Docket No. 1079]. The Debtors also filed an amended Plan Supplement [Docket No. 1076] which…

December 13, 2021 – The Court hearing the Grupo Aeroméxico, S.A.B. de C.V. cases has extended the periods during which the Debtors have an exclusive right to file a Plan and solicit acceptances thereof, through and including December 30, 2021 and February 28, 2022, respectively [Docket No. 2307]. Absent the relief, the Plan filing and…

December 9, 2021 – The Court hearing the Grupo Posadas cases issued an order confirming the Debtors’ Prepackaged Plan of Reorganization [Docket No. 113]. On October 26, 2021, Grupo Posadas S.A.B. de C.V. and one affiliated Debtor (BMV: POSADASA; “Grupo Posadas” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in…

December 8, 2021 – The Debtor filed a motion seeking authority to access up to $12.0mn of debtor-in-possession (“DIP”) financing which is to be provided by prepetition lender Hankey Capital, LLC ("Hankey" or the "Lender”), with the financing to be used to cover expenses in respect of a property located at 944 Airole Way, Los…

December 8, 2021 – The Court hearing the Strike, LLC cases issued an interim order authorizing the Debtors to (i) access $8.0mn of new money, debtor-in-possession (“DIP) financing being made available by prepetition lender American Industrial Partners, Ltd. ("AIP") and (ii) use cash collateral [Docket No. 87]. The balance of the requested DIP financing is…

December 3, 2021 – The Debtors notified the Court that their First Amended Plan of Liquidation had become effective as of December 3, 2021 [Docket No. 719] which was also the date upon which the Court issued its confirmation order [Docket No. 718]. On March 1, 2021, CMC II, LLC and five affiliated Debtors (dba…