August 12, 2022 – The Court hearing the Aluminum Shapes case confirmed the Debtors' Chapter 11 Plan of Liquidation as filed by the Debtor’s Official Committee of Unsecured Creditors (the “Committee” or the “Plan Proponent”) [Docket No. 619]. On August 15, 2021, Aluminum Shapes, L.L.C. (“Aluminum Shapes” or the “Debtor”) filed for Chapter 11 protection…

August 12, 2022 – Altera Infrastructure L.P. and 37 affiliated debtors (fka "Teekay Offshore Partners L.P.," and together “Altera*” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case No. 22-90130 (Judge Isgur). The Debtors, "a global energy infrastructure services partnership primarily focused on…

August 11, 2022 – The Debtors filed a motion requesting Court approval of a proposed key employee incentive plan (the “KEIP”) that includes 8 senior executives (the “KEIP Participants”) and comes at a maximum cost of $36.0mn [Docket No. 366]. A hearing to consider the motion is scheduled for August 24, 2022, with objections due…

August 11, 2022 – The Debtors filed a motion to extend (for a first time) the period during which the Debtors have an exclusive right to file a Chapter 11 Plan through and including February 8, 2023 [Docket No. 534]. Absent the requested relief, the Plan filing period is scheduled to expire on August 12,…

August 11, 2022 – The Debtor filed a first draft of its Chapter 11 Plan of Reorganization and a related Disclosure Statement [Docket Nos. 295 and 296, respectively]; and separately filed a motion requesting Court approval of (i) the Disclosure Statement (conditionally), (ii) proposed Plan solicitation and voting procedures and (iii) scheduling a Plan confirmation…

August 9, 2022 – The Debtors and the Debtors' Official Committee of Unsecured Creditors (the “Creditors’ Committee” and, together with the Debtors, the “Movants”) filed a motion requesting Court approval of a global settlement that will see @$175.0mn* injected into the Debtors' coffers and otherwise resolve outstanding disputes** which have drained the Debtors resources (@$25.0mn…

July 15, 2022 – The Debtor filed an Amended Disclosure Statement and a related redline showing changes to the version of the Disclosure Statement filed on May 31, 2022 [Docket Nos. 151 and 152, respectively]. The Amended Disclosure Statement, which now notes target dates of October 6th and October 20th for Plan confirmation and Plan…

August 5, 2022 – The Debtors filed a First Amendment to their RSA (defined below) which attaches a redline of their Amended Restructuring Term Sheet at Exhibit B [Docket No. 1015]. On May 9, 2022, the Debtors entered into a restructuring support agreement (the “RSA”) with an ad hoc group of unsecured noteholders (the “Consenting…

August 8, 2022 – The Court hearing the Footprint Power Salem Harbor Development 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 November 18, 2022 and January 17, 2023, respectively [Docket No. 363]. Absent the requested relief, the…

August 5, 2022 – The Court hearing the Voyager Digital Holdings cases issued an order: (i) approving proposed bidding procedures in respect of the sale of substantially all of the Debtors’ assets, (ii) authorizing the Debtors to select a stalking horse bidder, and offer bidder protections to any selected stalking horse, and (iii) approving an…