December 13, 2021 – The United States Bankruptcy Court for the Southern District of New York has announced that Judge Shelley C. Chapman has declared her intention to retire on June 6, 2022. In a press release announcing the retirement, the Court said "Judge Chapman joined the Southern District bench in 2010. During her tenure,…
December 9, 2021 – The Court hearing the Grupo Posadas cases issued an order confirming the Debtors’ Prepackaged Plan of Reorganization [Docket No. 113]. On October 26, 2021, Grupo Posadas S.A.B. de C.V. and one affiliated Debtor (BMV: POSADASA; “Grupo Posadas” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in…
December 8, 2021 – The Debtor filed a motion seeking authority to access up to $12.0mn of debtor-in-possession (“DIP”) financing which is to be provided by prepetition lender Hankey Capital, LLC ("Hankey" or the "Lender”), with the financing to be used to cover expenses in respect of a property located at 944 Airole Way, Los…
December 8, 2021 – The Court hearing the Strike, LLC cases issued an interim order authorizing the Debtors to (i) access $8.0mn of new money, debtor-in-possession (“DIP) financing being made available by prepetition lender American Industrial Partners, Ltd. ("AIP") and (ii) use cash collateral [Docket No. 87]. The balance of the requested DIP financing is…
December 3, 2021 – The Debtors notified the Court that their First Amended Plan of Liquidation had become effective as of December 3, 2021 [Docket No. 719] which was also the date upon which the Court issued its confirmation order [Docket No. 718]. On March 1, 2021, CMC II, LLC and five affiliated Debtors (dba…
December 7, 2021 – Further to the Court’s September 22nd bidding procedures order which required the filing of: (i) a notice designating any stalking horse bidder by 4pm on December 6th (subsequently extended by the Court by one day to December 7th) and (ii) the related asset purchase agreement as of that same date [Docket…
December 7, 2021 – The Debtors notified the Court that their Amended Joint Prepackaged Plan of Reorganization has become effective as of December 7, 2021 [Docket No. 173] and further filed an updated Plan Supplement attaching key exit governance and finance documents [Docket No. 174]. The Court had previously confirmed the Debtors’ Plan on December…
December 6, 2021 – The Debtors filed a motion requesting each of a bidding procedures order and a sale order [Docket No. 60]. The bidding procedures order would: (i) approve bidding procedures for the sale substantially of the Debtors’ assets (the “Sale”), (ii) authorize the Debtors to enter into a stalking horse asset purchase agreement…
December 6, 2021 – The Court hearing the Henry Ford Village case confirmed the Debtor’s Liquidating Plan [Docket No. 663]. On October 28, 2020, Henry Ford Village, Inc. (“Henry Ford Village” or the “Debtor”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Eastern District of Michigan, case number 20-51066. At filing,…
November 30, 2021 – In advance of its December 6th Plan confirmation hearing, the Debtor filed an Amended Combined Plan of Liquidation and Disclosure Statement (the “Combined Document”) which attaches a redline (changed pages only) showing changes to the version filed on October 28, 2021 [Docket No. 651, with redline at Exhibit 6]. The amendments…
