September 23, 2022 – The Court hearing the Makeup Liquidating Holdings cases issued an order dismissing the Debtors’ Chapter 11 cases [Docket No. 415]. this final order follows a July 5th interim dismissal order [Docket No. 367] which effectively put the dismissal process on rails pending the Court's receeipt of a certification of counsel stating…

September 20, 2022 – The Debtors notified the Court that they have delayed a sale hearing (at which approval of their Disclosure Statement would also have been considered) from September 29th until October 19th.  The delay presumably relates to what is now a protracted auction beginning on September 13th and in respect of which the…

September 20, 2022 – The Debtors, set to run out of cash in just over a week, have filed an emergency motion to reopen an auction process after their "successful bidder" failed to secure funding for their acquisition of the Debtors' assets [Docket No. 252].  In a declaration in support of reopening the auction process…

September 21, 2022 – An ad hoc committee of unsecured creditors (the “Ad Hoc Committee”)* has objected to the Debtors’ requested debtor-in-possession (“DIP”) financing [Docket No. 91] arguing that the DIP arrangements are designed to "further the interests of Penta Mezzanine SBIC Fund I, L.P. (‘Penta’) in its multitude of conflicting capacities as prepetition secured…

September 20, 2022 – The Debtors filed a motion to extend (for a third time) the periods during which they have an exclusive right to file a Plan and solicit acceptances thereof, through and including December 31, 2022 and March 1, 2023, respectively [Docket No. 630]. Absent the requested relief, the Plan filing and solicitation…

September 20, 2022 – The Debtors, set to run out of cash in just over a week, have filed an emergency motion to reopen an auction process after their "successful bidder" failed to secure funding for their acquisition of the Debtors' assets [Docket No. 252].  In a declaration in support of reopening the auction process…

September 19, 2022 – The U.S. Trustee assigned to the Debtors’ cases and the Debtors’ Official Committee of Unsecured Creditors (the “Committee”) have objected to the Debtors' proposed bidding procedures [Docket Nos. 87 and 93 respectively]. The U.S. Trustee argues that (i) "the proposed timetable is insufficient to allow the Debtors to reach all potential…

September 19, 2022 – Privately held Mariner Health Central, Inc. and two affiliated debtors (dba Parkview Healthcare, together “Mariner Health” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case No. (Judge TBA). The Debtors*, are part of the Mariner Health Care group of healthcare…

September 14, 2022 – The Debtors' Official Committee of Unsecured Creditors (the “Committee”) has added its voice to that of prepetition bond trustee and debtor-in-possession lender (“DIP”) lender UMB Bank, N.A. (the "Bond Trustee") and objected to the August 12th case dismissal motion filed by landlord Intercity Investment Properties, Inc. (the “Landlord”) [Docket No. 627]….

September 14, 2022 – The Court hearing the CalPlant I Holdco cases issued a second order that amends an existing final debtor-in-possession (“DIP”) order and authorizes the Debtors to access a further $18.3mn of DIP financing [Docket No. 403]. The extra financing, which with the exception of quantum has substantially identical terms as earlier DIP…