February 23, 2021 – Belk Inc. and 17 affiliated Debtors (“Belk” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 21-30630. The Debtors, retailers with 291 stores across 16 southeastern states, are represented by Jackson Walker LLP. Further board-authorized engagements include (i)…
February 22, 2021 – The Debtors have requested Court approval of a stipulation reached with CoStar Group Inc("CoStar") to settle litigation in respect of $58.75mn break-up fee that the Debtors allege they are owed following the collapse of the Court-approved sale of the Debtors' assets to CoStar. The stipulation will see the Debtors receive 88.5%…
February 18, 2021 – The Debtors filed a motion requesting a final debtor-in-possession ("DIP") order that would approve replacement DIP financing comprised of (i) a $95.0mn DIP term loan to be provided by newcomer Brigade Capital Management, LP ("Brigade," perhaps onlending the $175.0mn it will pocket, subject to appeal, courtesy of Citigroup's infamous Revlon error)…
February 16, 2021 – The Debtor filed a Chapter 11 Plan and a related Disclosure Statement [Docket Nos. 1313 and 1314, respectively]; and further filed a motion requesting Court approval of (i) the Disclosure Statement, (ii) proposed Plan solicitation and voting procedures and (iii) a proposed schedule culminating in a May 12, 2021 Plan confirmation…
February 15, 2021 – The Debtors' Official Committee of Unsecured Creditors (the “Committee”) objected to the Debtors' chosen stalking horse (Digiatech, LLC or "Digiatech') and proposed sale procedures arguing that the Debtors, in concert with their insider stalking horse, are foisting "an extremely expedited timeline that cannot possibly lead to a reasonable sale process and…
February 15, 2021 – Country Fresh Holding Company Inc. and 16 affiliated Debtors (dba Fresh Food Group; “Country Fresh” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 21-30574 (Judge Isgur). The Debtors, "a premier, full-service provider of branded and private-label offerings"…
February 10, 2021 – Mercy Hospital and Medical Center and one affiliated debtor (“Mercy” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Northern District of Illinois, lead case number 21-01805 (Judge Barnes). The Debtors, a not-for-profit 258-bed medical center located in Chicago’s South Side, are represented by Edward…
February 10, 2021 – Seadrill Limited and 85 affiliated Debtors (OSE: SDRL,OTCQX:SDRLF; “Seadrill” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 21-30427 (Judge Jones). The Debtors, global offshore drilling contractors, are represented by Matthew D. Cavenaugh of Jackson Walker LLP. Further…
February 10, 2021 – Ackerman McQueen, the Debtors’ largest unsecured creditor (“AMc”) filed a motion to dismiss (or in the alternative, appoint a Chapter 11 Trustee) the Debtors’ Chapter 11 cases [Docket No. 131] arguing that the Debtors have not filed for bankruptcy protection "with a legitimate goal of reorganizing." The admittedly solvent Debtors, AMc…
February 8, 2021 – Tyson Fresh Meats, Inc., one of the Debtors' creditors, asked the Court hearing the Debtor's case to order appointment of a Chapter 11 trustee "to assume control of the estate of Debtor Easterday Ranches, Inc." [Docket No. 79]. In its motion, Tyson provides details of the events leading up to the…
