October 30, 2020 – The Debtors notified the Court that their Wind-Down Plan had become effective as of October 30, 2020 [Docket No. 843]. The Court had previously confirmed the Debtors’ Plan on October 5, 2020 [Docket No. 806]. On January 22, 2020, in order to further a “strategic sale process,” Fairway Group Holdings Corp….

October 30, 2020 – The Debtors notified the Court that their Seventh Amended Joint Chapter 11 Plan of Reorganization had become effective as of October 30, 2020 [Docket No. 1509]. The Court had previously confirmed the Debtors’ Plan on October 14, 2020 [Docket No.1415]. On June 23, 2020, GNC Holdings, Inc. and 16 affiliated Debtors…

November 1, 2020 – Pennsylvania Real Estate Investment Trust and 68 affiliated Debtors (NYSE: PEI; “PREIT” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 20-12737. The Debtors, a leading publicly traded real estate investment trust, or “REIT,” specializing in the ownership and…

October 30, 2020 – Pacific Drilling S.A. and 18* affiliated Debtors (NYSE: PACD; “Pacific” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Texas, lead case number 20-35212. The Debtors, an operator of seven drillships (with the lead Debtor organized under the laws of the Grand Duchy…

October 28, 2020 – The Debtors filed an executed asset purchase agreement (the "APA") relating to the sale of (i) their "OpCo" assets to Copper Retail JV LLC (an entity controlled by Simon Property Group and Brookfield Property Group, the “OpCo Purchaser”) and (ii) their "PropCo" assets to Copper BidCo LLC (a new entity to be…

October 29, 2020 – The Debtors filed a Chapter 11 Plan of Liquidation and a related Disclosure Statement [Docket Nos. 410 and 411, respectively]; and further filed a motion requesting Court approval of (i) the Disclosure Statement (conditionally), (ii) proposed Plan solicitation and voting procedures and (iii) a proposed timeline culminating in a December 17th…

October 29, 2020 – The Debtors filed a Chapter 11 Plan of Liquidation and a related Disclosure Statement [Docket Nos. 1154 and 1155, respectively]; and further filed a motion requesting Court approval of (i) the Disclosure Statement, (ii) proposed Plan solicitation and voting procedures and (iii) a proposed schedule culminating in a December 23rd Plan…

October 29, 2020 – The Court hearing the Hertz Corporation cases issued an order authorizing the Debtors to access $1.65bn of new money debtor-in-possession (“DIP”) financing to be provided by the majority holders of the aggregate outstanding amount of the Debtors’ prepetition first-lien debt (the “Commitment Parties”) [Docket No. 1661]. The go ahead on the…