November 12, 2020 – The Court hearing the Lonestar Resources US cases confirmed the Debtors’ Joint Prepackaged Plan of Reorganization [Docket No. 219]. On September 30, 2020, Lonestar Resources US, Inc. and 21 affiliated Debtors (NASDAQ: LONE; “Lonestar” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District…
Revlon Consumer Products Corporation announced on November 12, 2020 that it has arranged enough support from bondholders to avoid a bankruptcy filing. The Company said that it has determined that nearly 70% of the holders of a bond nearing maturity agreed to a debt-swap deal, providing Revlon more time to pay off its loans. As…
November 11, 2020 – The Debtors and the Lapis PartiesFN (collectively, the “Plan Proponents”) filed a Second Amended Plan of Reorganization and a related Disclosure Statement [Docket Nos. 1986 and 1987, respectively]; and separately filed redlines showing changes to the versions of each document filed on November 4, 2020 [Docket No. 1989]. FN Lapis Parties…
November 11, 2020 – Further to a September 29th bidding procedures order [Docket No. 124] and a November 10th auction (adjourned from November 6th), the Debtors designated Terra Energy Partners LLC as the successful bidder ("Terra Energy" or the "Successful Bidder") with a cash purchase price of $60.0mn and the prepetition RBL Lenders ($224.9mn outstanding)…
On November 11, 2020, Meritor, Inc. approved a restructuring plan to close three U.S. manufacturing plants in its Industrial business and one European administration office in its Aftermarket business and consolidate those operations into existing facilities, according to a Form 8-K release. The site closures include: Chicago, IL (acquired through AxleTech acquisition); Livermore, CA (acquired…
November 10, 2020 – Further to an October 21st bidding procedure order [Docket No. 986] and a lengthy November 9th auction, the Debtors designated stalking horse Justice Brand Holdings LLC, an entity formed by Bluestar Alliance LLC as the successful bidder for their Justice Assets (the "Successful Bidder," $71.0mn purchase price), with JSTWHP, LLC, an…
November 3, 2020 – The Debtors filed a motion to extend the periods during which the Company has an exclusive right to file a Plan and solicit acceptances thereof, through and including April 19, 2021 and June 18, 2021, respectively [Docket No. 1069]. Absent the requested relief, the Plan filing and solicitation periods are scheduled…
Mytheresa.com GmbH is working with advisers on preparations for a potential U.S. initial public offering in early 2021, people with knowledge of the matter said, Bloomberg reports. The Company plans to seek a valuation of about $1 billion to $1.5 billion, but the target could vary depending on business performance during the holiday season, the…
November 10, 2020 – In anticipation of their November 12th Plan confirmation hearing, the Debtors have filed a First Amended Chapter Plan of Liquidation with non-material modifications and a related blackline reflection changes from the version of the Plan filed on October 8th [Docket No. 821]. Also filed were (i) a memorandum of law in…
November 11, 2020 – In anticipation of a November 17th Plan confirmation hearing, the Debtors filed a Second Amended Plan of Liquidation and a related blackline showing changes to the version of the Plan filed on October 1, 2020 [Docket Nos. 540 and 544, respectively]. The Debtors have also filed (i) a memorandum of law…
