May 9, 2023 – Further to a March 17th bidding procedures order [Docket No. 140] and an auction concluded on May 8th, the Debtor designaged, Getaround, Inc.* (“Getaround”) as the successful bidder in respect of the sale of substantially all of the Debtor’s assets, with DIP lender and stalking horse Holmes Motors, Inc. (“Holmes Motors” or…

May 9, 2023 – Vyera Pharmaceuticals, LLC and five affiliated debtors (together, "Vyera*" or the “Debtors”) filed for Chapter 11 protection (subchapter V) with the U.S. Bankruptcy Court in the District of Delaware, lead case No. 23-10605 (Judge TBD). The Debtors, "a biopharmaceutical company committed to developing and commercializing treatments that address serious and rare…

May 5, 2023 – The Debtors filed a bidding procedures motion [Docket No. 119] which requests (i) approval of bidding procedures in relation to the sale of certain of the Debtors’ assets (namely customer lists and IP), (ii) authority to enter into stalking horse arrangements with Pepper Park LLC* (the “Buyer”), (iii) authority to offer…

May 5, 2023 – The Debtor notified the Court that its Plan of Reorganization had become effective as of May 1, 2023 [Docket No. 211]. The Court had previously confirmed the Debtor’s Plan on April 5th [Docket No. 205]. The Debtor was represented by: (i) Schwartz Law, PLLC as bankruptcy counsel and (ii) Campbell Jones…

May 4, 2023 – Bighorn Restaurants, LLC and five affiliated debtors (together “Bighorn” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Colorado, lead case No. 23-11919 (Judge Michael E. Romero). The Debtors, who are franchisees in respect of @108 Hardee’s restaurants* in Alabama, Florida, Georgia, South…

May 3, 2023 – The Court has approved the Debtors' request to extend the periods during which they have an exclusive right to file a Plan and solicit acceptances thereof, through and including June 26, 2023 and August 25, 2023, respectively [Docket No. 1649]. Absent the requested relief, the Plan filing and solicitation periods are…

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…

May 2, 2023 – Lannett Company, Inc. and three affiliated debtors (NYSE: LCI*, together “Lannett” or the “Debtors”) filed for Chapter 11 protection (on a "prepackaged basis") with the U.S. Bankruptcy Court in the District of Delaware, lead case No. 23-10559 (Judge TBD). Lannett, which "develops, manufactures, packages, markets, and distributes generic pharmaceutical products for…

May 1, 2023 – The Debtors requested Court authority to: (i) access $6.5mn in new money, debtor-in-possession (“DIP”) financing, including $2.0mn on an interim basis to be provided by Invictus Global Management, LLC ("Invictus," or the “DIP Agent”), (ii) roll-up $20.7mn of prepetition obligations (including $2.8mn of prepetition bridge loans) obligations on a dollar-for-dollar basis…

May 1, 2023 – The Court hearing the Virgin Orbit Holdings cases issued an order: (i) approving bidding procedures in relation to the sale of substantially all of the Debtor’s assets, (ii) authorizing the Debtors to enter into stalking horse arrangements (no potential stalking horse flagged yet, deadline to do so is May 17, 2023),…