June 15, 2022 – At a June 15th hearing, the Court approved amendments to the Debtors' key employee incentive program (the "KEIP") as it had been proposed in a an April 27th motion [Docket No. 4707]. On May 20th, the Court had previously issued an order approving the KEIP as to four members of Purdue's…
June 10, 2022 – The Court hearing the EYP Group Holdings cases has postponed the Debtors' scheduled June 13th auction until June 16th [Docket No. 255], with the delay coming after the Debtors' Official Committee of Unsecured Creditors (the “Committee”) succeeded in obtaining a Court order compelling the Debtors to treat the bid of Page…
June 12, 2022 – Electric vehicle start-up Electric Last Mile Solutions Inc (Nasdaq: ELMS; "ELMS" or the "Company") has announced that it intends to file for Chapter 7 (ie liquidation) relief in Delaware; noting that its efforts to address "legacy financial, governance and operational matters" had come up short. Remaining Board members Shauna F. McIntyre,…
April 23, 2019 – Oak Point Partners acquired the remnant assets of the Lifestyle Lift Holding, Inc., et al., Bankruptcy Estates (Lifestyle Lift) in April 2019. On March 27, 2015, Lifestyle Lift and its affiliates each filed a voluntary petition under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the…
June 1, 2022 – GT Real Estate Holdings, LLC ("GTRE" or the “Debtor”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 22-10505 (Judge Karen B. Owens). The Debtor, a developer of a headquarters and practice facility for the NFL's Carolina Panthers and controlled by Appaloosa…
June 1, 2022 – TPC Group Inc. and seven affilliated debtors ("TPC" or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 22-10493 (Judge Craig T. Goldblatt). The Debtors*, "a global leader in providing a diverse range of quality products to chemical and petroleum-based…
May 23, 2022 – Christian Care Centers, Inc. ("CCCI") and Christian Care Centers Foundation, Inc. ("Foundation" and together with CCCI, the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Northern District of Texas, lead case number 22-80000 (Judge Stacey G. Jernigan). The Debtors, a non-profit, faith-based organization that operates three…
May 20, 2022 – Further to the Court's March 14th bidding procedure order [Docket No. 91], the Debtors notified the Court that they had (i) cancelled an auction scheduled for May 19th and (ii) selected Formentera Partners Fund I, LP as the successful bidder (the "Successful Bidder" or the “Purchaser”) in respect of the sale…
May 9, 2022 – The Debtors requested Court authority to (i) access $30.0mn of debtor-in-possession (“DIP”) financing, of which $20.0mn is to be made available on an interim basis, and (ii) have nonconsensual use of cash collateral [Docket No. 17]. The financing is to be made available by JMB Capital Partners Lending, LLC ("JMB" or…
May 9, 2022 – The Debtors requested Court authority to (i) access $5.0mn of new money, debtor-in-possession (“DIP”) financing to be provided by prepetition lender APE V Cypress, LLC (the “Lender,” an affiliate of PE house Argonaut Private Equity or "Argonaut") and (ii) use cash collateral [Docket No. 13]. The proposed DIP financing will come…
