September 27, 2021 – The Debtor filed a motion seeking dismissal of its Chapter 11 case [Docket No. 125]. As the Debtor, founded in 2013 to provide "high speed inspection and metrology technology to the semiconductor packaging industry," points out, this is an unusual dismissal motion, reflecting a "result rarely seen in bankruptcy cases."  Following…

September 27, 2021 – The Court hearing the TECT Aerospace Group Holdings cases issued a further amended final debtor-in-possession ("DIP") order which extends the “Maturity Date” in respect of the Debtors' DIP credit agreement until December 31, 2021 [Docket No. 513].  This is the third time that the Maturity Date has been extended in respect…

September 22, 2021 – Further to the Court's September 15th bidding procedures order [Docket No. 198], the Debtors have now filed a motion seeking authority to enter into a stalking horse arrangements with Cerberus South American Investments, LLC ("Cerberus") in respect of the sale certain of "certain loans in the Sellers’ loan portfolio and certain…

September 16, 2021 – The Debtors filed a Second Amended Joint Chapter 11 Plan of Reorganization and separately filed a redline showing changes to the version filed on August 18, 2021 [Docket Nos. 430 and 431, respectively]. The amendments to the Plan almost exclusively relate to the removal of terms made redundant by the Debtors'…

September 16, 2021 – Further to a September 15th auction, the Debtors have filed a notice of successful bidders [Docket No. 366] which designates the winning bidder in respect of each of three asset sale groupings. Also filed was the the asset purchase agreements of Ranger Energy Acquisition, LLC (“Ranger”) [Docket No. 368] which has…

September 16, 2021 – Further to a September 15th auction, the Debtors have filed a notice (i) naming Saadia Group LLC ("Saadia") as the Successful Bidder for its "Aquatalia Assets" and (ii) adjourned the auction with respect to their "Other Assets" (notably the Debtors’ Ely & Walker and Sean John brands) from September 15th until…

September 15, 2021 – The Court hearing the Avianca Holdings cases issued an order approving (i) the Debtors’ Disclosure Statement, (ii) proposed Plan solicitation and voting procedures and (iii) a proposed timetable culminating in an October 26, 2021 Plan confirmation hearing [Docket No. 2136]. Subsequent to approval of the Disclosure Statement, the Debtors filed solicitation…

September 14, 2021 – The Debtor filed a motion requesting each of a bidding procedures order and a sales order [Docket No. 94]. The bidding procedures order would (i) approve proposed bidding procedures for a sale of substantially all of the Debtor's assets (the "Sale"), including bidder protections for a (not yet selected) stalking horse…

September 13, 2020 – The Debtors filed a motion requesting Court authority to (i) enter into a September 12th Consulting Agreement with B. Riley Retail Solutions, LLC (the “Consultant”) and (ii) begin "clearance and consignment sales" efforts [Docket No. 40]. The motion states "to be clear, the contemplated Sales are not ‘going out of business’, ‘liquidation’…