/

January 19, 2022 – The U.S.Trustee assigned to the Debtor's case objected to the Debtor’s Second Amended Chapter 11 Plan of Reorganization arguing that the Plan's release and exculpation provisions are too broad, particularly given that the releases cover the increasingly infamous duo of Toby Moskovits (Heritage's founder and chief executive officer) and Yechiel Michael…

/

January 19, 2022 – The Debtor notified the Court that its Plan of Liquidation had become effective as of January19, 2022 [Docket No. 706]. The Court had previously confirmed the Debtor’s Plan on December 6, 2021 [Docket No. 663]. On October 28, 2020, Henry Ford Village, Inc. (“Henry Ford Village” or the “Debtor”) filed for…

/

January 19, 2022 – The $220.0mn sale of the Debtors' assets to Repsol Oil & Gas USA, LLC closed on January 19, 2022 "with no material changes to the previously announced commercial terms," stated Reed Smith partner Omar Alaniz, who represented Rockdale Marcellus in the transaction. As reported previously, on December 29, 2021, further to…

/

January 18, 2022 – The Debtors filed a motion to extend the periods during which they have an exclusive right to file a Plan, and solicit acceptances thereof, through and including March 7, 2022, and May 6, 2022, respectively [Docket No. 678]. Absent the requested relief, the Plan filing and solicitation periods are scheduled to…

/

January 14, 2022 – The Debtor filed a motion to extend the periods during which it has an exclusive right to file a Chapter 11 Plan, and solicit acceptances thereof, through and including June 13, 2022 and August 10, 2022 respectively [Docket No. 295]. Absent the requested relief, the Plan filing and solicitation periods are…

/

January 14, 2022 – Further to a December 15th bidding procedures order [Docket No. 290] and an auction occurring on January 13th and 14th, the Debtors have notified the Court as to the designation of successful bidders for each of their three major asset groupings, ie their New Jersey manufacturing facility, their Canadian assets and…

/

January 13, 2022 – The Court hearing the Nordic Aviation Capital Designated Activity cases issued an interim order authorizing the Debtors to (i) access $60.0mn of new money debtor-in-possession (“DIP”) financing on an interim basis (the “Initial DIP Term Loans”) and (ii) use cash collateral [Docket No. 171]. The current DIP financing is part of…

/

January 12, 2022 – The Court hearing the Seadrill New Finance Limited cases confirmed the Debtors’ Prepackaged Plan of Reorganization in what was a one-day stay in bankruptcy for this particular cluster of Seadrill Limited companies which had not otherwise been included as debtors in the Seadrill Limited cases [Docket No. 62]. As has become…

/

January 5, 2022  – The Debtors' claims agent has filed "preliminary" voting results in respect of the Debtors' Second Modified Fifth Amended Plan of Reorganization; with those voting results serving to trigger another round of largely media-focused challenges to the Plan's viability driven by victims' representatives who continue to oppose the Plan or are at…

/

January 5, 2022 – The Court hearing the Intelsat S.A. cases issued a final order authorizing the Debtors to enter into a series of replacement debtor-in-possession ("DIP") financing arrangements totalling $7.875bn; with this financing automatically converting into exit financing when the Debtors emerge from bankruptcy [Docket No. 3986]. As discussed further below, this order also…