December 16, 2022 – Further to the Court’s September 8th bidding procedures order [Docket No. 354] and an auction concluded on December 14, 2022 [Docket No. 536], the Debtor designated Tallgrass MLP Operations, LLC (“Tallgrass”) as the successful bidder ($282.5mn bid), with EP Ruby LLC (“EP Ruby”) named as the back-up bidder ($276.0mn bid) [Docket…

December 9, 2022 – Further to the Court’s November 14th bidding procedures order [Docket No. 77] and an auction held on December 7th/8th, the Debtors have now filed the asset purchase agreement (the “APA") agreed with SyBridge Digital Solutions LLC* (“Purchaser,” $13.3mn purchase price) in respect of a sale of substantially all of their assets…

December 12, 2022 – Further to the Court's September 8th bidding procedures order [Docket No. 354], the Debtor designated the $242.0mn cash bid of Tallgrass MLP Operations, LLC (“Tallgrass," an affiliate of Tallgrass Energy) as the "Starting Bid" at an auction scheduled for December 13, 2022 [Docket No. 525]. Tallgrass takes over the post position…

December 9, 2022 – Further to the Court’s November 14th bidding procedures order [Docket No. 77] and an auction held on December 7th/8th, the Debtors have now filed the asset purchase agreement (the “APA") agreed with SyBridge Digital Solutions LLC* (“Purchaser,” $13.3mn purchase price) in respect of a sale of substantially all of their assets…

December 9, 2022 – The Debtors filed a motion requesting each of a bidding procedures order and a sale order [Docket No. 15]. The bidding procedures order would: (i) approve bidding procedures in relation to the sale of the substantially all of the Debtors’ Pharmaca business assets (the “Sale”), (ii) authorize the Debtors to enter…

December 11, 2022 – Clovis Oncology, Inc. and two affiliated debtors (Nasdaq: CLVS; and together “Clovis” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case No. 22-11292 (Judge TBD). The Debtors, who "acquire, develop, and commercialize cancer treatments in the United States, Europe and…

December 7, 2022 – The Debtors filed a motion requesting each of a bidding procedures order and a sale order [Docket No. 47]. The bidding procedures order would: (i) approve bidding procedures in relation to the sale of the substantially all of the Debtors’ assets (the “Sale”), (ii) authorize the Debtors to enter into a…

December 6, 2022 – The Debtors and Bond Trustee UMB Bank, N.A. (“UMB” and together with the Debtors, the “Plan Sponsors”) filed a First Amended Plan of Reorganization and a related Disclosure Statement [Docket Nos. 869 and 870, respectively] and separately filed redline showing changes to the versions filed on November 2, 2022 [Docket No….

December 2, 2022 – The Debtors requested Court authority to: (i) access $5.0mn in new money, debtor-in-possession (“DIP”) financing, including $2.0mn on an interim basis, to be provided by Project Crush Acquisition Corp LLC (the “DIP Lender,” which appears to be an acquisition entity created by Digital Brands Group,* NASDAQ: DBGI; "DBGI") and (ii) use…

December 2, 2022 – The Court hearing the CalPlant I Holdco cases has extended (for a third time) the periods during which the Debtors have an exclusive right to file a Chapter 11 Plan, and solicit acceptances thereof, through and including April 5, 2023 and June 5, 2023, respectively [Docket No. 476]. Absent the requested…