April 30, 2020 – The Court hearing the George Washington Bridge Bus Station Development Venture case has extended (for a second time) the periods during which the Debtor has an exclusive right to file a Chapter 11 Plan, and solicit acceptances thereof, through and including August 4, 2020, and October 3, 2020, respectively [Docket No….
April 30, 2020 – The Court hearing the Modell’s Sporting Goods cases issued an order which extends the period during which the Debtors’ Chapter 11 cases are suspended through and including May 31, 2020 [Docket No. 294]. On March 27, 2020, the Court ordered an initial suspension through April 30th [Docket No. 166]. The order…
April 30, 2020 – The Debtors notified the Court [Docket No. 287] that their prepackaged Plan of reorganization had become effective as of April 30, 2020. The Court had previously confirmed the Debtors’ Plan on March 20, 2020 [Docket No. 245]. On February 7, 2020, American Commercial Lines, LLC and ten affiliated Debtors (“ACL” or…
April 29, 2020 – TooJay's Management LLC and 30 affiliated Debtors (“TooJay's” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Florida, lead case number 20-114792. The Debtors, owner operators of 28 deli-styled restaurants in Florida, are represented by Michael Goldberg of Ackerman LLC. The Debtors’…
April 29, 2020 – The Court hearing the OneWeb Global Limited cases approved the Debtors' proposed bidding procedures in relation to the sale of the Debtors’ assets (the “Sale”), including an auction/sale timetable culminating in an auction on July 2nd and a sale hearing on July 10th [Docket No. 104]. Those dates are not reassuring…
April 27, 2020 – The Debtors filed a Chapter 11 Plan of Liquidation and a related Disclosure Statement [Docket Nos. 112 and 113, respectively]. They further filed a motion requesting Court approval of (i) the Disclosure Statement (ii) Plan solicitation and voting procedures and (iii) a proposed timetable culminating in a June 22nd Plan confirmation…
April 27, 2020 – The Court hearing the Alta Mesa Resources cases issued an order conditionally approving (i) the KFM Debtors' Disclosure Statement, (ii) proposed Plan solicitation and voting procedures and (iii) a proposed timetable which culminates in a May 27th combined hearing [Docket No. 1623]. On April 22nd, the Court issued a substantially identical…
April 27, 2020 – The Court hearing the Frontier Communications Corporation cases issued an order (i) approving the $1.352bn private sale (the “Sale”) of the Debtors’ businesses in Washington, Oregon, Idaho and Montana (the “Pacific Northwest Assets”) and (ii) authorizing the Debtors to assume a May 18, 2019 purchase agreement (the “Purchase Agreement”) with Northwest…
April 24, 2020 – The Debtors' Official Committee of Unsecured Creditors (the “Committee”) objected to the Debtors’ motion for authorization to access debtor-in-possession (“DIP”) financing from their prepetition lenders (BNP Paribas), arguing that the proposed financing is insufficient, its fees onerous and its milestones too short to allow for a sales process or to possibly…
April 26, 2020 – Cinemex Holdings USA, Inc. and one affiliated Debtor (dba "CMX Cinema," "CMX” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Florida, lead case number 20-14696. The Debtors, the operator of approximately 40 cinemas and a wholly-owned subsidiary of Mexico's Grupo Cinemex,…
