On December 28, 2020, V.F. Corporation completed its previously announced acquisition of Supreme Holdings, Inc. (Supreme) pursuant to the Agreement and Plan of Merger, dated as of November 8, 2020, by and among VF, New Ross Acquisition Corp., a wholly owned subsidiary of VF (Merger Sub), Supreme and TC Group VI, L.P., solely in its…
December 23, 2020 – The Debtors filed a pair of motions seeking approval of (i) a proposed key employee retention program (the “KERP”) that would cover (42) KERP Participants at a maximum aggregate cost of $259k and (ii) a proposed key employee incentive program (the “KEIP”) that would cover (5) KEIP Participants at a maximum…
December 23, 2020 – The Debtor filed a second motion seeking an order extending the periods during which it has an exclusive right to file a Plan and solicit acceptances thereof, through and including February 28, 2021 and May 1, 2021, respectively [Docket No. 630]. Absent the requested relief, the Plan filing and solicitation periods…
December 23, 2020 – The Debtors filed with the Court a motion to extend the periods during which they have an exclusive right to file a Plan and solicit acceptances thereof, through and including February 26, 2021 and April 27, 2021, respectively [Docket No. 557]. Absent the requested relief, the Plan filing period is scheduled…
December 23, 2020 – The Debtors filed with the Court a motion to extend the periods during which they have an exclusive right to file a Plan and solicit acceptances thereof, through and including April 8, 2021 and June 7, 2021, respectively [Docket No. 384]. Absent the requested relief, the Plan filing and solicitation periods…
December 27, 2020 – The Debtors filed their Fourth Amended Plan with an attached redline showing changes to the version filed on December 13, 2020 [Docket No. 2630]. The amended Plan adds details about the proposed distribution for Holders of Convenience Claims, which, specifically, will be a Pro Rata share of $10,000,000, with the Pro…
December 24, 2020 – The Debtors filed their Plan of Liquidation and related Disclosure Statement [Docket Nos. 844 and 845]. The Plan filing comes nearly four months after the Debtors closed the $325.0mn sale of their assets to SPARC Group LLC. An exclusivity extension granted on November 18, 2020 [Docket No. 744] indicated that the…
December 23, 2020 – Further to its November 10th bidding procedures order [Docket No. 141] and the auction concluded on December 7th, the Court hearing the YogaWorks cases issued an order approving a $7.3mn sale of assets to The YW Company (“the Buyer”) [Docket No. 240]. The APA is attached to the order as Exhibit…
December 23, 2020 – The Debtors filed a motion requesting each of a bidding procedures order and a sale order Sale [Docket No. 114]. The bidding procedures order would (i) approve bidding procedures for the sale of substantially all the Debtors’ Wyoming Real Property Assets (the “Sale”) and (ii) establish an auction/sale timetable culminating with…
December 24, 2020 – Further to its November 2nd bidding procedures order [Docket No. 152] and absent any further qualified bids beyond that of stalking horse Concord Hospital (the “Stalking Horse Bidder” or “Purchaser”), the Court hearing the LRGHealthcare cases issued an order approving the proposed $30.0mn sale of substantially all of the Debtors’ assets…
