December 30, 2020 – The Court hearing the Emergent Capital cases issued an order confirming the Debtor’s Second Amended Chapter 11 Plan of Reorganization [Docket No. 184]. On October 15, 2020, Emergent Capital, Inc and one affiliated Debtor (OTCQX: EMGC; “Emergent” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in…
January 4, 2021 – The Debtors filed an Amended Chapter 11 Plan of Reorganization and a related blackline showing immaterial changes to the version of the Plan filed on November 30, 2020 [Docket Nos. 340 and 341]. In anticipation of their January 6, 20121 Plan confirmation hearing, the Debtors have also recently filed (i) their…
January 4, 2021 – The Court hearing the Francesca’s Holdings Corporation cases issued an order (i) approving bidding procedures for the sale of substantially all of the Debtors' assets, (ii) approving "the process for designation of stalking horse bidder and provision of bid protections" and (iii) adopting a proposed timetable culminating in a January 15,…
January 4, 2021 – The Court hearing the Francesca’s Holdings Corporation cases issued a final order authorizing the Debtors to (i) access the $10.0mn balance of a $25.0mn debtor-in-possession (“DIP”) financing facility and (ii) continue using cash collateral [Docket No. 262]. On December 8, 2020, the Court had authorized the Debtors to access a first…
January 4, 2021 – The Court hearing the Francesca’s Holdings Corporation cases issued a final order approving (i) the Debtors’ assumption of a store closing consultancy agreement with Tiger Capital Group, LLC (the “Consultant”) and (ii) store closing procedures (the “Store Closing Procedures”) [Docket No. 259]. On December 16, 2020, the Court had previously issued…
On January 4, 2021, S&P Global Ratings lowered its LT issuer credit and senior unsecured debt ratings on Husky Energy Inc. to BBB- from BBB. On December 15, 2020, Cenovus Energy Inc. and Husky Energy Inc. announced that substantially all their respective shareholders and Husky's preferred stock shareholders approved the companies' proposed combination. The combination…
Antero Resources Corporation announced the pricing of its private placement to eligible purchasers of $500 million in aggregate principal amount of 8.375% senior unsecured notes due 2026 at par. Antero Resources estimates that it will receive net proceeds of approximately $494 million, after deducting the initial purchasers’ discounts and estimated expenses. The Company intends to…
On January 4, 2021, Live Nation Entertainment, Inc. closed its previously announced offering of $500.0 million in aggregate principal amount of 3.750% senior secured notes due 2028 and in connection therewith, the Company, certain of the Company’s subsidiaries, as guarantors, and U.S. Bank National Association, as trustee and collateral agent, entered into an indenture governing…
December 31, 2020 – The Debtors filed their Plan of Liquidation and related Disclosure Statement [Docket Nos. 2001 and 2002, respectively]. The filing of the Plan and Disclosure Statement comes approximately 18 months after the Debtors filed for Chapter 11 on June 30, 2019. According to an exclusivity extension motion filed on October 21, 2020…
December 31, 2020 – The Debtors filed a Combined Plan of Liquidation and Disclosure Statement [Docket No. 301] and separately requested a Court order that would (i) conditionally approve the adequacy of the Disclosure Statement, (ii) approve Plan solicitation and voting procedures and (iii) approve a proposed timetable culminating in a March 8, 2021 combined…
