January 2, 2022 – Creditor FitzWalter Capital Partners (Financial Trading) Limited (“FWCP”), which describes itself as the Security Agent and authorized representative for the Debtors' only secured lenders, filed a motion asking the Court to to dismiss or abstain from hearing the Debtors' Chapter 11 cases [Docket No. 22]. On December 17, 2021, the Debtors,…
June 15, 2020 – Oak Point Partners acquired the remnant assets of the AE Liquidation, Inc. f/k/a Eclipse Aviation Corporation, et al. Bankruptcy Estates (AE Liquidation) in May 2020. On November 25, 2008, AE Liquidation and its debtor affiliates each filed a voluntary petition under chapter 11 of the Bankruptcy Code in the United States…
December 30, 2021 – The Debtors filed a motion to extend the period during which they have an exclusive right to solicit acceptances of their Plan through and including July 5, 2022 [Docket No. 285]. Absent the requested relief, the exclusive solicitation period is scheduled to expire on January 3, 2022. The Debtors argue that…
December 29, 2021 – The Debtors' Official Committee of Unsecured Creditors (the “Committee”) has objected to the Debtors’ proposed debtor-in-possession ("DIP") financing facility, arguing that the Debtors, at the behest of the "many-hatted" DIP lender (American Industrial Partners, Ltd. or "AIP," also a prepetition lender and the Debtors' stalking horse ), are requesting financing arrangements…
December 28, 2021 – The Debtors filed a motion to extend (for a seventh time) the periods during which they have an exclusive right to file a Plan, and solicit acceptances thereof, through and including March 22, 2022 and June 21, 2022, respectively [Docket No. 953]. Absent the requested relief, the Plan filing and solicitation…
December 23, 2021 – The Court hearing the Strike cases issued an order (i) approving bidding procedures for the sale of substantially of the Debtors’ assets (the “Sale”), (ii) authorizing the Debtors to enter into a stalking horse asset purchase agreement with Strike Acquisition LLC (the “Stalking Horse Bidder”) including provisions as to a $1.5mn…
December 22, 2022 – Further to the Court’s August 31st bidding procedures order [Docket No. 141] and an auction held on December 20th, the Court hearing the GBG USA cases approved the sale of the Debtors' Sean John assets (cash purchase price of $7.551mn plus certain "Assumed Liabilities") to SLC Fashion LLC (the “Purchaser”) [Docket…
December 21, 2021 – The Debtors recently appointed Official Committee of Unsecured Creditors (the “Committee”) filed a limited objection to the Debtors' bidding procedure motion [Docket No. 248], arguing that as proposed the Debtors' bidding procedures "would result in an extraordinarily expedited sale process largely dictated by the milestones imposed on the Debtors by their…
December 20, 2021 – The Court hearing the EHT US1 cases confirmed the Plan Proponents* Modified First Amended Joint Plan of Liquidation [Docket No. 1874]. * The Debtors, the Official Committee of Unsecured Creditors appointed in the Chapter 11 Cases (the “Committee”), and Bank of America, N.A. (the “Prepetition Agent”), in its capacities as administrative…
December 16, 2021 – In advance of their December 20th confirmation hearing, the Debtors have filed (i) a modified First Amended Plan which attaches a blackline showing changes to the version filed on November 1, 2021 [Docket No. 1851], (ii) a memorandum of law in support of Plan confirmation (the "Memorandum") [Docket No. 1840], (iii)…
