December 3, 2020 – The Court hearing the Bouchard Transportation Co. cases issued an order approving sale procedures for the proposed sale of a 2018 Gulfstream G650 aircraft and related equipment [Docket No. 282]. The Debtors had filed an emergency motion requesting authority to proceed with the sale, citing concerns that potential purchasers needed clarity…

December 22, 2020 – The Court hearing the Rubio’s Restaurants cases issued an order confirming the Debtors' Second Amended Prepackaged Plan of Reorganization [Docket No. 307]. On October 26, 2020, Rubio’s Restaurants, Inc. and three affiliated Debtors (dba “Rubio’s Coastal Grill,” “Rubio’s” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court…

December 1, 2020 – Further to their restructuring support agreement ("RSA"), the Debtors have now filed the proposed terms of a $52.0mn Exit Facility to fund their Amended Joint Prepackaged Chapter 11 Plan of Reorganization [Exhibit B to Docket No. 224]. Key Terms of the Exit Facility: Borrower: Rubio’s Restaurants, Inc. Guarantors: MRRC Hold Co….

December 22, 2020 – The Debtors notified the Court that their Amended Prepackaged Plan of Reorganization had become effective as of December 22, 2020 [Docket No. 333]. The Court had previously confirmed the Debtors’ Plan on December 17, 2020 [Docket No. 320]. On November 21, 2020, Guitar Center, Inc. and seven affiliated Debtors (“Guitar Center”…

December 22, 2020 – The Debtors requested Court authority to (i) access $6.5mn of debtor-in-possession (“DIP”) financing (including up to $1.5mn on an interim basis) and (ii) use of cash collateral [Docket No. 11].  The DIP financing is being provided by prepetition lender PBS DIP Lender, LLC (an affiliate of Sortis Holdings, Inc. or "Sortis")…

December 22, 2020 – The Debtor notified the Court that its Second Chapter 11 Plan had become effective as of December 22, 2020 [Docket No. 604]. The Court had previously confirmed the Debtor’s Plan on December 11, 2020 [Docket No. 592]. On April 13, 2020, Alpha Entertainment LLC (XFL) and one affiliated Debtor (“XFL” or…