May 23, 2022 – Christian Care Centers, Inc. ("CCCI") and Christian Care Centers Foundation, Inc. ("Foundation" and together with CCCI, the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Northern District of Texas, lead case number 22-80000 (Judge Stacey G. Jernigan). The Debtors, a non-profit, faith-based organization that operates three…

May 20, 2022 ­­– Further to the Court's March 14th bidding procedure order [Docket No. 91], the Debtors notified the Court that they had (i) cancelled an auction scheduled for May 19th and (ii) selected Formentera Partners Fund I, LP as the successful bidder (the "Successful Bidder" or the “Purchaser”) in respect of the sale…

May 9, 2022 – The Debtors requested Court authority to (i) access $30.0mn of debtor-in-possession (“DIP”) financing, of which $20.0mn is to be made available on an interim basis, and (ii) have nonconsensual use of cash collateral [Docket No. 17]. The financing is to be made available by JMB Capital Partners Lending, LLC ("JMB" or…

May 9, 2022 – The Debtors requested Court authority to (i) access $5.0mn of new money, debtor-in-possession (“DIP”) financing to be provided by prepetition lender APE V Cypress, LLC (the “Lender,” an affiliate of PE house Argonaut Private Equity or "Argonaut") and (ii) use cash collateral [Docket No. 13]. The proposed DIP financing will come…

May 4, 2022 – The Court hearing the Brazos Electric Power Cooperative case has extended the periods during which the Debtor has an exclusive right to file a Plan and solicit acceptances thereof, through and including July 26, 2022 and September 22, 2022, respectively [Docket No. 1757]. Absent the relief, the Plan filing and solicitation…

[Just filed. Developing story] May 2, 2022 – WC Braker Portfolio, LLC (“WC Braker” or the “Debtor”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Western District of Texas, lead case number 22-10293 (Judge Tony M. Davis). The Debtor, owner of a 13-building office complex in Austin, Texas called "the Offices…

April 30, 2022 –  Brickchurch Enterprises, Inc. (“BCE” or the “Debtor”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Eastern District of New York, lead case number 22-70914 (Judge Alan S. Trust). The Debtor, which owns a large beachfront property in Southampton, NY, is represented by the Law Offices of Craig…