March 21, 2023 – The Court hearing the Stimwave Technologies cases issued an order confirming the Debtors’ Second Amended Plan of Liquidation [Docket No. 791]. In a related development, on March 9th, the Debtors' former CEO Laura Perryman was arrested in Florida and charged with one count of healthcare fraud* and one count of conspiracy…

March 21, 2023 – Further to agreements reached at a March 16th Plan confirmation hearing (as reflected in the March 17th Plan and amended confirmation order, see below), the Court hearing the Times Square JV cases issued an order confirming the Debtors’ Third Amended Plan of Reorganization [Docket No. 260]. Case Evolution On December 28,…

University bookstore operator Barnes and Noble Education (BNED) hired Houlihan Lokey according to a report by Bloomberg.  The article cited declining college enrollments and loans maturing later next year as catalysts for the engagement. Barnes and Noble Education shares closed at $1.62 Monday, giving the company a market capitalization of $85 Million. Barnes and Noble Education…

March 17, 2023 – In advance of a March 20th hearing, the Debtors (in conjunction with their credit bidding stalking horse, the "Stalking Horse Bidder*") filed a further revised stalking horse asset purchase agreement (the “APA”) [Docket No. 240, with the revised APA and a related redline attached] which they assert addresses issues raised by…

BOSTON–(BUSINESS WIRE)–Pear Therapeutics, Inc. (Nasdaq: PEAR) (“the Company”), the leader in developing and commercializing software-based medicines called prescription digital therapeutics (PDTs), today announced that it is engaged in a process to explore strategic alternatives to maximize shareholder value. The Company has engaged MTS Health Partners, L.P. to act as the Company’s exclusive financial advisor to…

March 13, 2023 – The Debtors filed a motion to extend (for a second time) the periods during which they have an exclusive right to file a Chapter 11 Plan and solicit acceptances thereof, through and including June 5, 2023 and August 4, 2023, respectively [Docket No. 1405]. Absent the requested relief, the Plan filing…

March 13, 2023 – The Court hearing the Borrego Community Health Foundation case issued an order approving the sale of substantially all of the Debtor’s asset ($50.0mn purchase price) to stalking horse Desert AIDS Project d/b/a DAP Health [Docket No. 559]. Previously on February 15, 2023, Further to the Court’s December 19th bidding procedures order [Docket…

March 9, 2023 – Opus Consulting Partners LLC (“Opus Consulting”), which is represented by Casner & Edwards, LLP, announced completion of the sale of the business operations and assets of Ermont, Inc. a vertically integrated medical cannabis operator, to an affiliate of multi-state cannabis operator MariMed, Inc. According to an Opus Consulting press release announcing…

March 10, 2023 – Loyalty Ventures Inc.* and three affiliated debtors (Nasdaq: LYLT; together “LVI” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case No. 23-90111 (Judge Christopher M. Lopez). The Debtors, an operator/provider of consumer loyalty programs. are represented by Matthew D….

March 8, 2023 – Privately held yze Renewables II, LLC  and one affiliated debtor (together “Ryze” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case No. 23-10289 (Judge Mary F. Walrath). The Debtors, who are in the middle (40% complete) of repurposing an existing…