June 22, 2023 – Further a June 13th auction and a June 22nd sale hearing, the Court hearing the Ryze Renewables II cases issued an order approving the sale of the substantially all of the Debtors’ assets, including their Las Vegas biofuels refinery, to Edgewood Renewables, LLC (the “Buyer” or “Successful bidder,” $36.5mn purchase price)…
June 21, 2023 –The Debtors have filed an executed stalking horse asset purchase agreement (the “APA”) entered into with ABG-Regatta LLC, a Delaware limited liability company (the “Buyer” or “Stalking Horse Bidder,” an affiliate of Authentic Brands Group, with bid protections including a $1.59mn break-up fee and a $1.0mn expense reimbursement [Docket No. 63, with…
June 15, 2023 – The Court hearing the Bed Bath & Beyond Inc. cases issued a final order authorizing the Debtors to access: (i) $40.0mn in new money, debtor-in-possession (“DIP”) financing provided by certain prepetition lenders (with Sixth Street Specialty Lending, Inc. as administrative agent), (ii) roll-up $200.0mn of amounts owed to Sixth Street, et…
June 14, 2023 – The Rockport Company, LLC and four affiliated debtors (together “Rockport” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case No. 23-10774 (Judge TBD). The Newton, Massachusetts based Debtors, "a leading global designer, distributor, and retailer of comfort footwear around the…
June 13, 2023 – Further to an April 25th bidding procedures order [Docket No. 92], and in advance of an oft-extended June 12th deadline, the Debtors notified the Court that they had selected Overstock.com, Inc. ($21.5 cash bid) as their stalking horse bidder in respect of a sale of substantially all of BBBY's intellectual property…
June 11, 2023 – Center for Autism and Related Disorders, LLC and four affiliated debtors (together “CARD” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case No. 23-90709 (Judge David R. Jones). The Debtors, "the nation's leading [autism] treatment provider with over 30…
June 6, 2023 – The Court hearing the Pill Club Pharmacy Holdings case issued an order approving the sale of certain of the Debtors’ assets (namely customer lists and IP) to stalking horse Pepper Park LLC* (the “Buyer” or “Stalking Horse Bidder,” with consideration to comprise assumption of $35.4mn of secured debt and $50k in…
June 9, 2023 – Privately held Lucky Bucks LLC and two affiliated debtors (together “Lucky Bucks” or the “Debtors*”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case No. 23-10758 (Judge TBD). The Debtors, "among the largest Class B coin operated amusement machine ('COAM') operators based in…
June 8, 2023 – AeroFarms, Inc. and 14 affiliated debtors (together “AeroFarms” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case No. 23-10737 (Judge TBD). The Debtors, a Newark, NJ-based "sustainable indoor agriculture company" and operators of the world's largest vertical farm*, are represented…
June 6, 2023 – In advance of a June 8th Disclosure Statement hearing, the Debtors filed a First Amended Plan of Reorganization and a related Disclosure Statement [Docket No. 410], with the filing also attaching blacklines of each document showing changes to versions filed on April 19th. A revised proposed Disclosure Statement Order was also…
