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August 11, 2022 – The Debtor filed a first draft of its Chapter 11 Plan of Reorganization and a related Disclosure Statement [Docket Nos. 295 and 296, respectively]; and separately filed a motion requesting Court approval of (i) the Disclosure Statement (conditionally), (ii) proposed Plan solicitation and voting procedures and (iii) scheduling a Plan confirmation…

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August 9, 2022 – The Debtors and the Debtors' Official Committee of Unsecured Creditors (the “Creditors’ Committee” and, together with the Debtors, the “Movants”) filed a motion requesting Court approval of a global settlement that will see @$175.0mn* injected into the Debtors' coffers and otherwise resolve outstanding disputes** which have drained the Debtors resources (@$25.0mn…

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July 15, 2022 – The Debtor filed an Amended Disclosure Statement and a related redline showing changes to the version of the Disclosure Statement filed on May 31, 2022 [Docket Nos. 151 and 152, respectively]. The Amended Disclosure Statement, which now notes target dates of October 6th and October 20th for Plan confirmation and Plan…

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August 5, 2022 – The Debtors filed a First Amendment to their RSA (defined below) which attaches a redline of their Amended Restructuring Term Sheet at Exhibit B [Docket No. 1015]. On May 9, 2022, the Debtors entered into a restructuring support agreement (the “RSA”) with an ad hoc group of unsecured noteholders (the “Consenting…

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August 8, 2022 – The Court hearing the Footprint Power Salem Harbor Development cases has extended the periods during which the Debtors have an exclusive right to file a Chapter 11 Plan, and solicit acceptances thereof, through and including November 18, 2022 and January 17, 2023, respectively [Docket No. 363]. Absent the requested relief, the…

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August 5, 2022 – The Court hearing the Voyager Digital Holdings cases issued an order: (i) approving proposed bidding procedures in respect of the sale of substantially all of the Debtors’ assets, (ii) authorizing the Debtors to select a stalking horse bidder, and offer bidder protections to any selected stalking horse, and (iii) approving an…

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August 5, 2022 – The Court hearing the Voyager Digital Holdings cases issued an order authorizing the Debtors to: (i) honor customer withdrawals in respect of customer cash held at Metropolitan Commercial Bank (“MC FBO”), (ii) liquidate cryptocurrency from customer accounts with a negative balance, (iii) sweep cash held in third-party exchanges, (iv) conduct ordinary…

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July 25, 2022 – Sam Bankman-Fried (of Alameda Ventures Ltd. and FTX Trading Ltd., "Alameda" and FTX, respectively) has fired back in a Twitter thread at the Debtors' July 24th response [Docket No. 137] to a July 22nd FTX  press release outlining an FTX offer for Voyager's assets.  Kirkland & Ellis ("Kirkland"), the Debtors' counsel,…

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August 1, 2022 –  HeartBrand Holdings, Inc. and one affiliated debtor (together “HeartBrand” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case No. 22-90127 (Judge Jones). The Debtors, Texas cattle/beef producers with a focus on Japanese Akaushi beef, are represented by Harry A….

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July 26, 2022 – Further to a July 8th bidding procedures order [Docket No. 95], the Debtors notified the Court that, absent any further qualified bids, the auction scheduled for July 28th had been cancelled and stalking horse 37 Baking Holdings, LLC (the “Stalking Horse Bidder,” $20.0mn credit bid*) had been named as the successful…