July 18, 2019 – The Debtors objected to a motion filed by the Ad Hoc Committee (defined below) to terminate the Debtors’ exclusive Plan filing and solicitation periods (the “Termination Motion”) [Docket No. 3075] and pushed back on a term sheet for an alternative Plan proposed by the Ad Hoc Committee as "an attempt to…
July 16, 2019 – The Debtors filed a motion requesting each of a bidding procedures order and a sales order. The bidding procedures order would (i) approve bidding procedures in respect of the sale(s) of subtantially all of the Debtors' assets (the "Sales") and (ii) approve procedures for selecting one or more stalking horses, including…
July 16, 2019 − Publicly-traded Emerge Energy Services LP (formerly NYSE: EMES and now OTC: EMESZ) and four affiliated Debtors ("Emerge Energy" or the "Debtors") filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-11563. The Debtors, a Delaware limited partnership that is engaged in the…
December 12, 2018 – Oak Point Partners acquired the remnant assets of Laclede Steel Company in December 2018. On July 27, 2001, Laclede Steel filed a voluntary petition under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Eastern District of Missouri, assigned Case No. 01-48321. Thereafter, on May 19,…
July 11, 2019 − Privately-held Shale Support Global Holdings, LLC and seven affiliated Debtors ("Shale Support" or the "Debtors") filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 19-33884. The Company, a provider of logistical services and frac-sand or “proppant” products, is represented by Karl…
July 11, 2019 – Tensie Axton has joined FTI Consulting, Inc. (NYSE: FCN) as a Senior Managing Director in its Turnaround & Restructuring Services practice within the Corporate Finance & Restructuring segment in a move that will further bolster the firm’s restructuring capabilities, notably in the troubled healthcare sector. Ms. Axton, who will be based…
July 11, 2019 − Charming Charlie Holdings Inc. and six affiliated Debtors (“Charming Charlie” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-11534. The Debtors, a leading specialty retailer focused on colorful fashion jewelry, handbags, apparel, gifts, and beauty products, are represented…
July 10, 2019 – Further to the Court's bidding procedures order [Docket No. 456], the Debtors notified the Court that, absent any further qualified bids: (i) a pair of designated stalking horse bidders had been named as successful bidders in respect of the Debtors' Forward Business and Reverse Business segments, respectively, and (ii) an auction…
July 9, 2019 – The Debtors requested Court authority to enter into a new $1.5bn, post-petition warehouse facility with Barclays Bank PLC as agent (the “DIP Repo Facility”) pursuant to a Master Repurchase Agreement (the “DIP Repo Facility Agreement”). The DIP Repo Facility will refinance in full four prepetition warehouse facilities (the “Prepetition Repo Facilities”),…
July 10, 2019 – The Debtors notified the Court that their Modified Joint Prepackaged Plan had become effective as of July 9, 2019 [Docket No. 296]. Previously, On May 17, 2019, the Court approved the Debtors' Disclosure Statement and confirmed their Plan [Docket No. 241]. On January 23, 2019, Maremont Corporation and 3 affiliated Debtors…
