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December 18, 2019 – The Court hearing the Emerge Energy Services cases confirmed the Debtors’ Second Amended Joint Plan of Reorganization [Docket No. 721]. On December 5th, the Court had denied the confirmation of the Debtors’ Plan on the basis that the Plan's incorporation of implied consents to deliver binding third-party releases simply did not…

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December 18, 2019 − High Ridge Brands Co. and 8 affiliated debtors ("High Ridge Brands" or the "Debtors") filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-12689. The Debtors, one of the largest independent branded personal care companies (holding rights, inter alia to Zest and…

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December 17, 2019 – The Court hearing the Fusion Connect cases issued an order confirming the Debtors’ Third Amended Joint Chapter 11 Plan [Docket No. 680]. On June 3, 2019, Fusion Connect, Inc. and 18 affiliated Debtors (“Fusion” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District…

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December 16, 2019 − Clover Technologies Group, LLC (a/k/a 4L Holdings Corporation) and six affiliated Debtors (“Clover” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-12680. The Debtors, the world’s largest collector and recycler of imaging supplies, are represented by Domenic E….

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December 13, 2019 – As it had signalled at a December 9th sale hearing, the Debtor filed a motion seeking conversion of the Debtor's Chapter 11 case to a case under Chapter 7 [Docket No. 254]. For the Debtor, which was only able to generate $1.7mn in asset sale proceeds at a disappointing December 5th…

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December 13, 2019 – The Debtors' Official Committee of Unsecured Creditors (the “Committee”) objected to the Debtors’ request for access to $4.5mn of final debtor-in-posession ("DIP") financing to be provided by GT Gettaxi Limited (“Gett” or the “DIP Lender,” organized in Cyprus, based in Israel and the Debtors' ultimate parent), arguing that (i) the funds…

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December 13, 2019 – The (former) Debtors notified the Court [Docket No. 483] that their Second Amended Joint Prepackaged Plan had become effective as of December 13, 2019. The Court had previously approved the Debtors’ Plan on September 11, 2019 [Docket No. 343].  On July 1, 2019, Weatherford International Plc (formerly, NYSE: WFT) and two…

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December 12, 2019 – The Debtors filed a Third Amended Plan which includes a blackline showing changes from the version of the Plan filed on November 8, 2019 [Docket No. 648]. In anticipation of a December 17th Plan confirmation hearing, the Debtors also filed (i) a Plan Supplement which includes revised exit financing documentation (terms…

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December 11, 2019 – The Debtors filed a Joint Chapter 11 Plan of Reorganization and Liquidation and a related Disclosure Statement [Docket Nos. 66 and 67, respectively]. In an unusual combination of reorganization and liquidation, the Debtors intend to reorganize around a single Debtor ("GT Forge") who will hold on to the Debtors' accumulated net…