On December 23, 2020, Rayonier A.M. Products Inc., a wholly owned subsidiary of Rayonier Advanced Materials Inc., completed its previously announced private offering of $500 million aggregate principal amount of its 7.625% Senior Secured Notes due 2026 in a private placement “to persons reasonably believed to be qualified institutional buyers under Rule 144A under the…

StoneMor Inc. announced that it received notification from the New York Stock Exchange on December 23, 2020 that the Company has regained compliance with the NYSE continued listing criteria that requires listed companies to maintain an average closing share price of at least $1.00 over a consecutive 30 trading-day period. The Company also remains in…

December 23, 2020 – The Court overseeing the Tuesday Morning cases issued an order confirming the Debtors' Revised Second Amended Plan of Reorganization [Docket No. 1913]. On May 27, 2020, Tuesday Morning Corporation and six affiliated Debtors (Nasdaq "TUES;" “TMC” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the…

December 23, 2020 − The Court overseeing Lucky's Market Parent's cases issued an order confirming the Debtors' Second Amended Plan of Liquidation [Docket No. 1423]. On January 27, 2020, Lucky's Market Parent Company, LLC and 21 affiliated Debtors (“Lucky's Market” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the…

December 22, 2020 – The Court hearing the Intelsat S.A. cases approved (i) a 2021 key employee incentive plan (the “2021 KEIP”) with award values of $6,720,038, $13,440,075 and $19,003,606 under Threshold, Target and Stretch Performance Levels, respectively, covering eight (six from the Debtors' 2020 KEIP and two from newly acquired Gogo CA) key insiders…

December 22, 2020 – The Debtors filed a modified Second Amended Plan of Reorganization [Docket No. 2196] and separately filed a redline showing changes to the version filed on November 11, 2020 [Docket No. 2199]. The amendment reflects changes to the proposed treatment of Class 2A and 2B claims, otherwise summarized below. The modified Second…

December 22, 2020 – The Debtors filed their (i) revised Plan of Liquidation and Disclosure Statement, with attached blackline of each document showing changes to the versions filed on December 11, 2020 and (ii) solicitation versions of the Plan and Disclosure Statement [Docket Nos. 1051, 1050, 1059 and 1058, respectively]. On the same day, the…

December 22, 2020 – The Debtors’ claims agent notified the Court of Plan voting results [Docket No. 543], and the Debtors filed an Emergency Motion to Allow Objections to Claims for Purposes of Voting Procedures [Docket No. 542], which, if approved, would result in elimination of eight rejecting votes and acceptance of the Debtor's Plan,…