January 28, 2022 – The Court hearing the Prospect-Woodward Home case has extended the periods during which the Debtor has an exclusive right to file a Chapter 11 Plan, and solicit acceptances thereof, through and including February 26, 2022. and June 26, 2022 respectively [Docket No. 364]. Absent the requested relief, the Plan filing and…

January 27, 2022 – The Debtors filed a Third Revised Plan of Reorganization and a related Disclosure Statement with each attaching blacklines (changed pages only) showing changes to the versions filed on January 24, 2022 [Docket Nos. 4189 and 4190, respectively]. The majority of the amendments relate to continued sparring amongst the Debtors' official committee…

January 27, 2022 – Following "fruitful" negotiations with longtime Plan nemesis PanAm19 Holdings, LLC ("PanAm"), and the subsequent January 27th execution of a "Second Amended and Restated Restructuring Support and Lock-Up Agreement" with PanAm as signatory, the Debtors have now filed a Fourth Amended Plan and a related Disclosure Statement [Docket Nos. 392 and 393,…

January 26, 2022 – The Court hearing the Alpha Latam Management cases issued an order approving (i) the Debtors' Disclosure Statement, (ii) proposed Plan solicitation and voting procedures and (iii) a proposed timetable culminating in a March 3, 2022 Plan confirmation hearing [Docket No. 518]. The Debtors also filed solicitation versions of their Plan and…

January 25, 2022 – The Debtors' Official Committee of Unsecured Creditors (the “Committee”) has filed a pair of objections, the first attacking the Debtors’ Disclosure Statement as failing, inter alia, to adequately disclose transactions uncovered by the Committee in the early stages of its ongoing investigation (with those transactions giving "rise to colorable claims and…

January 25, 2022 – The Court hearing the TECT Aerospace Group Holdings cases issued an order approving (i) the Debtors’ Disclosure Statement, (ii) proposed Plan solicitation and voting procedures and (iii) a proposed timetable culminating in a March 8, 2022 Plan confirmation hearing [Docket No. 735]. With the order granted and no further matters going…

January 20, 2022 – The Court hearing Kumtor Gold Company cases has extended the periods during which the Debtors have an exclusive right to file a plan, and solicit acceptances thereof, through and including May 26, 2022 and July 25, 2022, respectively (ie for another 120 days) [Docket No. 313]. Absent the requested relief, the…

January 19, 2022 – The Ad Hoc Group of OpCo Creditors (see table below for membership) and the Debtors' Official Committee of Unsecured Creditors (the “Committee”) have separately objected to the Debtors’ Plan of Reorganization [Docket Nos. 2491 and 2493, respectively]. The objections are largely similar, with each creditor group claiming that a Plan that…

January 19, 2022 – Further to a January 18th sale hearing, the Court hearing the Teligent cases issued a trio of sale orders which approve: (i) the $27.0mn sale of the Debtors' "Facility Assets" to Leiters, Inc., (ii) the $45.75mn sale of the Debtors' "Canadian Assets" to Hikma Canada Limited and (iii) the $14.42mn sale…

January 19, 2022 – The Debtors filed first drafts of their Plan of Reorganization and Disclosure Statement [Docket Nos. 186 and 187, respectively]; and separately filed a motion requesting Court approval of (i) the Disclosure Statement, (ii) proposed Plan solicitation and voting procedures and (iii) a proposed schedule culminating in a Plan confirmation hearing on…