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January 28, 2021 – The Debtors filed solicitation versions of their Ninth Amended Plan of Reorganization and related Disclosure Statement [Docket Nos. 2864 and 2866, respectively]. On January 27, the Court approved (i) the adequacy of the Debtors’ Disclosure Statement, (ii) Plan solicitation and voting procedures and (iii) a timetable culminating in a Plan confirmation…

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January 28, 2021 – The Debtor filed a motion to extend the period during which they have an exclusive right to file solicit acceptances in respect of their already filed Plan, through and including April 27, 2021 [Docket No. 367]. Absent the requested relief, the Plan solicitation period is scheduled to expire on February 26,…

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January 28, 2021 – The Court hearing the LATAM Airlines Group S.A. 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 June 30, 2021 and August 23, 2021, respectively [Docket No. 1760]. Absent the requested relief, the Plan…

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January 28, 2021 – The Debtors’ filed their modified Third Amended Plan of Reorganization with an attached redline showing changes to the version filed on December 30, 2020 [Docket No. 988]. The Debtors had filed what appears to be an identical Plan (except for changes as to the filing date, shifting from January 27th to…

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January 28, 2021 – The Debtors filed a motion requesting each of a bidding procedures order and a sale order [Docket No. 197]. The bidding procedures order would (i) approve proposed bidding procedures, including bidder protections, in respect of a sale of substantially all of the Debtors' assets, (ii) authorize the Debtors to enter into…

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January 28, 2021 – Privately-held Belk Inc. ("Belk," or the "Debtors"), a retailer with 291 stores across 16 southeastern states, has published a Prepackaged Plan and a related Disclosure Statement that it is in the process of distributing to stakeholders. In a January 26th press release, Belk announced that it had entered into a Restructuring…

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January 26, 2021 – The Debtors' Official Committee of Equity Securities Holders (the “Equity Committee”) has filed a motion requesting termination of the Debtors’ Plan exclusivity periods so that they could be in position to file a competing Plan.  On January 22, 2021, the Debtors filed an Amended Chapter 11 Plan which abruptly shifted from…

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January 25, 2021 – L'Occitane, Inc. (“L'Occitaine or the “Debtor”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of New Jersey, lead case number 21-10632. The Debtor, a leading U.S. retailer of beauty and well-being products, are represented by Mark E. Hall of Fox Rothschild LLP. Further board-authorized engagements include…

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January 26, 2021 – Privately held CiCi's Holdings, Inc.and eight affiliated Debtors (dba cicis pizza; “CiCi's” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Northern District of Texas, lead case number 21-30146. The Debtors, a pizza company with 318 locations across 26 states (96% franchised), are represented by…

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January 25, 2021 – The Debtors requested Court authority to (i) access $20.0mn of new money, debtor-in-possession (“DIP”) financing and (ii) use cash collateral [Docket No. 20]. The DIP financing is being provided by existing second lien noteholders (with ICG Debt Administration LLC, or “ICG,” serving as administrative agent and collateral agent) in the form…