January 20, 2023 – The Debtor filed a motion to extend (for a third time) the periods during which it has an exclusive right to file a Plan and solicit acceptances thereof, through and including July 31, 2023 and September 29, 2023, respectively [Docket No. 630]. Absent the requested relief, the Plan filing and solicitation…

January 22, 2023 –  Privately held AD1 Urban Palm Bay, LLC and 12 affiliate debtors* ("AD1 Urban" or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 23-10074 (Judge Karen B. Owens). The Debtors, managers/franchisees of hotel properties in Florida, are represented by Ian…

January 19, 2023 –  Genesis Global Holdco, LLC and two affiliate debtors (“Genesis," “GGH” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 23-10063 (Judge Sean Lane). The Debtors, “an industry pioneer and digital currency prime brokerage*," are represented by Sean…

January 18, 2023 – The Court hearing the Madison Square Boys & Girls Club case has extended the periods during which the Debtor has an exclusive right to file a Chapter 11 Plan, and solicit acceptances thereof, through and including March 13, 2023 and May 12, 2023, respectively [Docket No. 356]. Absent the requested relief,…

January 17, 2023 –  Party City Holdco Inc. and 13 affiliate debtors (NYSE: PRTY; "PCHI" or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 23-90005 (Judge TBA). The Woodcliff Lake, N.J.- based  Debtors, “a global leader in the celebrations industry” (770 owned…

January 11, 2023 – Further to a November 15th bidding procedures order [Docket No. 784], and a lengthy auction that concluded on January 11th, the Chapter 11 Trustee (the “Trustee”) appointed to the Debtor's case notified the Court that Quadrum Development Corp. (the “Buyer,” U.S. property portfolio here) had been designated as the successful bidder in…

January 12, 2023 – The Court hearing the Vital Pharmaceuticals cases issued an order authorizing the Debtors to: (i) access a further $66.0mn of new money debtor-in-possession (“DIP”) financing being provided by prepetition lender Truist Bank (“Truist”), (ii) roll-up $235.0mn (reduced by $120.0mn) of amounts owed to Truist under an August 2020 Revolving Credit and Term…

January 11, 2023 – Further to a November 15th bidding procedures order [Docket No. 784], and a lengthy auction that concluded on January 11th, the Chapter 11 Trustee (the “Trustee”) appointed to the Debtor's case notified the Court that Quadrum Development Corp. (the “Buyer,” U.S. property portfolio here) had been designated as the successful bidder in…

January 11, 2023 – Tricida, Inc. (NASDAQ: TCDA; "Tricida" or the “Debtor”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, case number 23-10024 (Judge TBA). The Debtor, a clinical-stage biopharmaceutical company*, is represented by Sean Beach of Young Conway Stargatt & Taylor, LLP. Further board-authorized engagements include: (i)…

January 11, 2023 – American Virtual Cloud Technologies, Inc. and two affiliate debtors (dba Kandy; Nasdaq: AVCT; AVCT" or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware lead case number 23-10020 (Judge Mary F. Walrath). Atlanta-based AVCT “establishes and operates cloud-based communications marketplaces for telecom carriers*"…