December 11, 2020 – The Debtors filed a first iteration of their Chapter 11 Plan of Reorganization and a related Disclosure Statement [Docket Nos. 63 and 64, respectively] On December 3rd, the privately held owner/operator of thermal coal mines in and around the Powder River Basin, filed for Chapter 11 protection with the U.S. Bankruptcy…
PolarityTE, Inc. announced that on December 10, 2020 it has received a deficiency letter from the Listing Qualifications Department of the Nasdaq Stock Market notifying the Company that, for the last 30 consecutive business days, the bid price for the Company’s common stock had closed below the minimum $1.00 per share requirement for continued inclusion…
Armstrong Flooring, Inc. announced on December 11, 2020 the closure of its South Gate, California manufacturing facility “in furtherance of its tile manufacturing footprint optimization strategy.” The Company expects the Closure to be completed in the first quarter of 2021 and to result in the separation of approximately 58 employees. The Company estimates that it…
Ferrellgas Partners, L.P. (together with its operating partnership, Ferrellgas, L.P.) and subsidiaries, announced on December 11, 2020 that it has entered into an agreement with a substantial majority of its noteholders that enables the Company to continue to be an employee-owned enterprise and move forward with a stronger balance sheet. The Transaction Support Agreement executed…
December 11, 2020 – Privately-held American Purchasing Services, LLC and three affiliated Debtors (d/b/a American Medical Depot; “American Purchasing” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Florida, lead case number 20-23495. The Debtors, "a premier supplier to the surgical and medical industry," are represented…
December 10, 2020 – The Debtors filed their Second Amended Plan of Liquidation, including blacklines of the document showing changes from the version filed on November 3, 2020 [Docket No. 772]. They separately filed a memorandum of law in support of confirmation of the Second Amended Plan [Docket No. 773]. Previously on November 3rd, the…
December 10, 2020 – Further to the October 19th bidding procedures order, the Debtors notified the Court that they designated Crestview Aerospace LLC as successful bidders for their assets (purchase price of $10.5mn), with Twin Haven Special Opportunities Fund IV, L.P. designated as the back-up bidder. [Docket No. 194]. The Debtors cancelled the auction, which…
December 10, 2020 – The Debtors filed their Fourth Amended Plan of Reorganization and related Disclosure Statement [Docket Nos. 2615 and 2616, respectively]. They further filed blacklines of each document showing changes from the version filed on October 16th [Docket No. 2617]. The amendments do not reflect any material changes to the Debtors’ summary of…
December 10, 2020 – The United States Trustee (the “UST”) objected to the Debtor's First Amended Disclosure Statement and First Amended Plan of Liquidation [Docket No. 2635], although the UST did state that the Debtor's current management is in a better position to resolve litigation that has plagued the cases than a Chapter 7 trustee…
December 10, 2020 – The Court hearing Permian Holdco 1, Inc. cases issued an order approving the Debtors’ (i) combined Plan and Disclosure Statement (conditionally), (ii) proposed Plan solicitation and voting procedures and (iii) proposed timetable culminating in a January 25, 2021 Plan confirmation hearing [Docket No. 377]. Also on December 10th, the Debtors filed…
