October 18, 2021 – The Court hearing the LATAM Airlines Group S.A cases issued an order authorizing the Debtors to access $750.0mn of Tranche B debtor-in-possession (“DIP”) financing on a final basis [Docket No. 3378]. The financing is to be provided by Oaktree Capital Management, L.P and Apollo Management Holdings, L.P. (NB: Oaktree and Apollo…
October 18, 2021 – The Debtors' Official Committee of Unsecured Creditors (the “Committee”) filed a Plan of Liquidation and a related Disclosure Statement [Docket Nos. 478 and 479, respectively]; and further filed a motion requesting Court approval of (i) the Disclosure Statement, (ii) proposed Plan voting and solicitation procedures and (iii) a proposed timetable culminating…
October 15, 2021 – The Court hearing the GBG USA cases issued an amended order approving the sale of Aquatalia Assets to Saadia Group LLC (the “Purchaser”) with that order now reflecting a reduced cash purchase price of $19.75mn [Docket No. 301]. The adjusted purchase price follows a notice of default filed by the Purchaser…
October 14, 2021 – The Court hearing the TECT Aerospace Group Holdings cases has extended the periods during which the Debtors have an exclusive right to file a Chapter 11 Plan, and solicit acceptances thereof, through and including January 3, 2022 and March 2, 2022, respectively [Docket No. 553]. Absent the requested relief, the Plan…
October 14, 2021 – Red River Waste Solutions, LP (“Red River” or the “Debtor”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Northern District of Texas, lead case number 21-42423 (Judge Edward L. Morris). The Debtor, a family run provider of waste management services to more than 310,000 households and commercial…
October 8, 2021 – Further the Court's September 24th bidding procedures order [Docket No. 138], the Debtors have now designated With You, Inc. (“With You”) as the stalking horse bidder in respect of a proposed sale of the Debtors' 62.5% of the membership interests of With You LLC ("WYLLC;" Sequential Brands Group, Inc. is the…
October 8, 2021 – Further to key settlements and Court approval of the Debtors' asset sale to non-debtor affiliate CPSTN Operations, the Debtors have now filed a Combined Plan of Liquidation and Disclosure Statement (the “Combined Document”) and a motion requesting Court approval of (i) the Disclosure Statement element of the Combined Document (conditionally), (ii)…
October 7, 2021 – Further to a September 21st bidding procedures order [Docket No. 436] and the completion of an auction held on October 1st, the Court hearing the Fresh Acquisitions cases issued an order approving the sale of substantially all the Debtors’ assets to BBQ Growth, LLC (“BBQ” or the “Purchaser,” an affiliate of…
October 6, 2021 – The Debtors filed a bidding procedures motion [Docket No. 213] which requests Court approval of (i) proposed bidding procedures for a sale of substantially all of Debtors' assets and (ii) a proposed timetable culminating in an March 28th auction and a TBD sale hearing. The proposed bidding procedures are part of…
October 6, 2021 – The Court hearing the CMC II, LLC cases has issued an order approving the sale of substantially all of the Debtors' assets to CPSTN Operations LLC ("CPSTN" or the "Purchaser," a non-debtor affilate) [Docket No. 590] for consideration that includes the entirety of amounts owed by the Debtors to CPSTN under…
