October 7, 2019 – Further to an October 3rd auction and to an October 7th sale hearing, the Court approved the $16.5mn sale of the Debtors' E-Commerce Business assets City Chic Collective USA Incorporated (“City Chic”) [Docket No. 339]. The revised asset purchase agreement amongst the Debtors and City Chic is attached to the sale…
October 7, 2019 − George Washington Bridge Bus Station Development Venture LLC (the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 19-13196. The Debtors, the developers of the George Washington Bridge Bus Station in New York, are represented by Michael D. Sirota…
October 4, 2019 − Agera Energy LLC and five affiliated Debtors (“Agera Energy” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 19-23802. The Debtors, an electricity and natural gas reseller, are represented by Darren Azman of McDermott, Will & Emery…
October 3, 2019 − Publicly-traded, EP Energy Corporation and seven affiliated Debtors (NYSE: EPE, “EP Energy” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 19-35654. The Debtors, a Houston-based independent energy company focused on the acquisition, production, exploration, and development of…
October 3, 2019 − Citing difficulties in transitioning its businesses to meet rapid technological changes, privately-held Deluxe Entertainment Services Group Inc. and 26 affiliated Debtors (“Deluxe” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 19-23774. The Debtors, a global video…
October 2, 2019 – The Debtors filed a First Amended Chapter 11 Plan and a related blackline showing changes from the version of the Plan filed on August 26th and subsequently confirmed by the Court on August 28th [Docket Nos. 278 and 279]. The amendment reflects changes to the treatment of Classes 3 and 4,…
October 2, 2019 – The Court hearing the Forever 21 cases issued an interim order authorizing the Debtors to access $350.0mn in debtor-in-possession ("DIP") financing and use cash collateral. The DIP financing is comprised of (i) a $275.0mn senior secured superpriority ABL revolving credit facility provided by the Debtors' pre-petition ABL lenders (and being used…
October 1, 2019 – The Debtors requested Court authority (i) to enter into a store closing consulting agreement with a contractual joint venture comprised of Gordon Brothers Retail Partners, LLC and Hilco Merchant Resources, LLC (together, the “Consultant,” with the consulting agreement attached as Exhibit A to the motion), (ii) to close the 178 stores…
October 1, 2019 – Further to it's September 11th bidding procedures order [Docket No. 147], and absent any qualified bids other than that of stalking horse Loot Crate Acquisition, Inc. (the “Stalking Horse,” an affiliate of debtor-in-possession (“DIP”) lender Money Chest, LLC), the Court hearing the Loot Crate cases approved the $30.0mn sale of the…
October 1 − Bayou Steel BD Holdings, L.L.C. and two affiliated Debtors (“Bayou Steel Group” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-12153. The Debtors, producers of long carbon steel products owned by private equity house Black Diamond Capital Management ("Black…
