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…

March 2, 2023 – In what is a third shift in proposed debtor-in-possession ("DIP") financing arrangements in under three weeks, the clearly rudderless* Debtors are looking for Court authority to ditch Court-approved DIP financing being provided by Invictus Global Management, LLC ("Invictus") in favor of financing provided by the 1903P Loan Agent (defined below), a…

March 1, 2023 – The Court hearing the Compute NewAge cases issued an order confirming the Debtors’ Third Amended Combined Plan of Liquidation and Disclosure Statement [Docket No. 527]. Case Evolution On August 30, 2022, NewAge, Inc. and three affiliated Debtors (Nasdaq: NBEV; “NewAge” or the “Debtors”) filed for Chapter 11 protection noting estimated assets…

February 27, 2023 – The Debtors' Official Committee of Unsecured Creditors (the “Committee”) filed an omnibus objection which takes issue with: (i) the Debtors' debtor-in-possession ("DIP") financing arrangements, (ii) proposed bidding procedures and (iii) the adequacy of the Debtors' Disclosure Statement [Docket No. 145]. UPDATE: On March 1st, the Court hearing the Nielsen & Bainbridge…

 Feb. 27, 2023 /PRNewswire/ — Isagenix International ("Isagenix" or "the Company"), a leader in providing nutrition solutions for weight loss, performance, and healthy aging, announced today that it has reached a definitive agreement with an ad hoc group of the Company's investors to secure the long term future of the business. This agreement, also known…

February 25, 2023 – Largely tracking arguments made by the Debtors' Official Committee of Unsecured Creditors for Tort Claimants – Related to Use of Combat Arms Version 2 Earplugs (the “CAE Committee”) in their February 2nd motion to dismiss [Docket No. 1066], the U.S. Trustee assigned to the Debtor’s case has filed its own motion…

February 24, 2023 – The Debtors notified the Court that their Amended Prepackaged Chapter 11 Plan of Reorganization has become effective as of February 24, 2023 [Docket No. 214]. The Court had previously confirmed the Debtors’ prepackaged Plan on February 16, 2023 [Docket No. 204]. On January 9, 2023, privately held Nautical Solutions, L.L.C. and…