November 11, 2021 – Further to the Court’s September 30th bidding procedures order [Docket No. 122] and an auction held on November 10, 2021, the Debtor notified the Court that VV9000 LLC (the "Buyer") has been selected as the successful bidder for substantially all of its assets [Docket No. 263]. The Debtor's assets are principally…
November 11, 2021 – Further to a November 5th hearing, the Court hearing the GVS Portfolio I B cases issued an order approving (i) bidding procedures for the sale of substantially all of Debtors’ assets and (ii) an auction/sale timetable culminating in an auction on February 28th and a sale hearing n March 2022 (exact…
November 10, 2021 – The Court hearing the Norwich Roman Catholic Diocesan Corporation case has extended the periods during which the Debtor has an exclusive right to file a Chapter 11 Plan, and solicit acceptances thereof, through and including February 4, 2022 and April 5, 2022, respectively [Docket No. 362]. Absent the requested relief, the…
November 10, 2021 – In advance of their November 10th Disclosure Statement hearing, the Debtors filed an Amended Plan of Liquidation and a related Disclosure Statement with each attaching a redline showing changes to the version filed on September 27, 2021 [Docket Nos. 402 and 400, respectively]. The Debtors also filed a proposed order relating…
November 9, 2021 – The Debtors, a New Jersey-based specialty generic pharmaceutical company, filed a motion requesting approval for procedures relating to the private sale (the “Sale”) of $3.0mn of R&D credits and unused carryforward net operating losses ("NOLs" and together with the R&D credits, "Tax Attributes") that it believes it can sell under a…
November 8, 2021 – The Debtors filed a First Amended Plan of Reorganization and a related Disclosure Statement [Docket Nos. 273 and 272, respectively], and separately filed redlines of each document showing changes to the versions filed on October 1, 2021 [Docket No. 277]. The revised documents have been largely amended to reflect a shift…
November 8, 2021 – The Debtors filed a motion to extend the periods during which they have an exclusive right to file a Chapter 11 Plan, and solicit acceptances thereof, through and including January 10, 2022 and March 11, 2022, respectively [Docket No. 732]. Absent the requested relief, the Plan filing and solicitation periods are…
November 5, 2021 – Further to a September 15th bidding procedures order [Docket No. 198] and November 4th auction, the Debtors notified the Court that they had selected CFG Partners Colombia SAS ("CFG Colombia," with cash consideration the Debtors estimate at $149.0mn) as the successful bidder for substantially all the operating assets (the “Assets”) [Docket…
November 5, 2021 – The Court hearing the AH Liquidation cases confirmed the Plan element of the Plan Proponents’* Second Amended Combined Plan of Liquidation and Disclosure Statement on a final basis (the “Combined Document”) [Docket No. 401]. On May 31, 2021, Avadim Health, Inc. and four affiliated Debtors (“Avadim” or the “Debtors,” a healthcare…
November 3, 2021 – The Debtor filed a Second Amended Plan and a related Disclosure Statement (the Plan attached as Exhibit A to the Disclosure Statement) and blacklines of each showing changes to the versions filed on October 15, 2021 [Docket No. 167]. A substantial portion of the revisions relate to the bitter and unresolved…
