April 27, 2023 – The Court hearing the Kalera case issued a second interim debtor-in-possession (“DIP”) financing order authorizing the Debtor to: (i) access a further $1.0mn in new money, DIP financing being provided prepetition lender (and distressed lending specialist) Sandton Credit Solutions Master Fund V, L.P. (“Sandton”) and (ii) continue using cash collateral [Docket…

April 27, 2023 – The Court hearing the ESCO, Ltd. cases issued a final order authorizing the Debtors to: (i) assume a consultancy agreement with Gordon Brothers Retail Partners, LLC (the ‘Store Closing Consultant’), (ii) conduct store closing sales in respect of 39 stores operating under the Shoe City banners and (iii) implement store closing…

April 27, 2023 – Tritek International Inc. and two affiliated debtors (the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case No. 23-10520 (Judge TBA). The Debtors, U.S subsidiaries* of Manitoba, Canada-based HyLife (a "vertically integrated operation for the raising, production and sale of pork products")…

April 25, 2023 – Following a full-throated April 21st objection from the Debtors’ Official Committee of Unsecured Creditors (the “Committee”) [Docket No. 158] and the Debtors' April 24th response [in the form of revised proposed bidding procedures, Docket No, 185], the Court hearing the SiO2 Medical Products cases has issued a considerably revised bidding procedures…

April 25, 2023 – Further to a January 12th bidding procedures order [Docket No. 487], the Debtors notified the Court that they had canceled an auction scheduled for April 26th and designated M 7 Holdings, LLC (“M 7 Holdings,” a wholly owned subsidiary of Princeton, NJ-based Miami International Holdings, Inc. (“MIH”)) as the successful bidder…

April 25, 2023 – In advance of an April 26th bidding procedures hearing, the Debtor has filed a notice designating RockitCoin, LLC* as stalking horse (the “Stalking Horse,” $16.75mn opening cash bid) in respect of a proposed Section 363 sale process [Docket No. 473, with the Stalking Horse's term sheet attached at Exhibit]. The assets…

April 25, 2023 – The Court hearing the Bed Bath & Beyond cases issued an order: (i) approving bidding procedures in relation to the sale of the substantially all or any portion of the Debtors’ assets, (ii) authorizing the Debtors to select one or more stalking horse bidders (none selected yet, with May 22nd set…

April 21, 2023 – The Debtors’ Official Committee of Unsecured Creditors (the “Committee”) has filed a pair of objections taking issue with numerous aspects of the Debtors’ proposed bidding procedures and debtor-in-possession ("DIP") financing [Docket Nos. 158 and 162, respectively]. In challenging the Debtors' proposed sale process, the Committee notes that: "certain important matters remain…

April 23, 2023 – The Debtors filed a motion requesting Court authority to: (i) assume a pair of consultancy agreements with Hilco Merchant Resources, LLC (“Hilco” or the “Consultant”), (ii) conduct store closing sales in respect of 473 stores operating under the Bed Bath & Beyond (BBBY-US) and BuyBuyBaby (BABY-US) banners, (iii) implement store closing…

April 23, 2023 – The Debtors filed a motion requesting each of a bidding procedures order and a sale order [Docket No. 29]. The bidding procedures order would: (i) approve bidding procedures in relation to the sale of the substantially all or any portion of the Debtors’ assets (the “Sale”), (ii) authorize the Debtors to…