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April 4, 2022 – The Debtors filed a Revised Chapter 11 Plan and a related Disclosure Statement [Docket Nos. 435 and 436, respectively]; and separately filed blacklines of each showing changes to the versions filed on March 22, 2022 [Docket No. 437] which reflect the terms of the now 75% supported Fifth Amended RSA which…

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March 31, 2022 – The Debtors filed a motion requesting a Court order that (i) approve bidding procedures in respect of a sale of substantially all of the Debtors' assets, (ii) authorize the Debtors to select a stalking horse bidder (none selected yet) and offer bidder protections to any selected stalking horse and (iii) approve…

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March 30, 2022 – The Debtors filed a motion requesting each of a bidding procedures order and a sale order [Docket No. 28]. The bidding procedures order would approve (i) bidding procedures in relation to the sale of the Debtors’ assets (the “Sale”), including bidder protections for credit bidding stalking horse bidder MDH Holdco LLC…

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March 29, 2022 – The Debtors' Official Committee of Unsecured Creditors (the “Committee”) and the U.S. Trustee assigned to the Debtors' cases have each filed objections to the Debtors’ Disclosure Statement [Docket Nos. 427 and 430, respectively] with both objections (to varying degrees) taking issue with the appropriateness of proposed release provisions and to lack…

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March 28, 2022 – The Debtors' Official Committee of Unsecured Creditors (the “Committee”) filed a motion asking the Court to reconsider a March 14th bidding procedures order in respect of a sale of substantially all of the Debtors’ assets (the “Sale”) [Docket No. 166]. The motion for "reconsideration" is procedurally unusual, but is an effort…

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March 25, 2022 – The U.S. Trustee assigned to the Debtors' cases has objected to the Debtors’ proposed debtor-in-possession ("DIP") financing [Docket No. 152] arguing that it would grant "a superpriority claim of pre-petition debt over post-petition debt, including certain unmortgaged Mississippi real estate and chapter 5 avoidance actions," with the promotion of that pre-petition…

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March 25, 2022 – Privately held* Volunteer Energy Services Inc. (“VESI” or the “Debtor”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Ohio, lead case number 22-50804 (Judge Preston). The Debtor, "a leading Midwestern natural gas and electricity supplier", is represented by David M. Whittaker of Isaac Wiles…

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March 22, 2022 – Following up on their objection to the Debtors' request for a third set of exclusivity extensions [Docket No. 1199] which flagged their strong preference for a quick dismissal of the Debtors' cases, the Debtors' Official Committee of Unsecured Creditors’ (the “Committee”) has now actioned that sentiment with a motion to dismiss…

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March 16, 2022 – At a March 16th hearing, the Court hearing the GVS Portfolio I B cases confirmed the Debtors' Fourth Amended Plan of Reorganization. A confirmation order was subsequently issued on March 21st [Docket No. 873, with blackline noting changes to the order (and modifying the Plan) as proposed on March 15th at…

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March 10, 2022 – The Debtors filed a motion requesting each of a bidding procedures order and a sale order [Docket No. 16]. The bidding procedures order would (i) approve bidding procedures in respect of the sale of substantially all of the Debtors’ assets (the "Sale"), (ii) authorize the Debtors to select a stalking horse…