January 23, 2019 – Further to the Debtors’ January 22, 2019 auction and its selection of successfull and back-up bidders [Docket No. 125], the Debtors received Court approval [Docket No. 129] for (i) an asset purchase agreement (the “SCM APA”) between (a) the Debtors and (b) SCM Lifescience Co., LTD. and Genexine,Inc., (collectively, the “Buyers”)…
January 23, 2019 – Sam Kane Beef Processors (“SKB” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 19-20020 [Docket No. 1]. The Company, which has operated a meat-packing plant in Corpus Christi, Texas since 1949 (see “God Bless America” and “People…
January 23, 2019 – Maremont Corporation and 3 affiliated Debtors (“Maremont” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-10118 {Docket No. 1]. The Debtors,each a wholly-owned, non-operating subsidiary of Meritor, Inc. (“Meritor,” NYSE: MTOR) historically involved in the manufacturing of automobile…
January. 22, 2019 – Irvine, California-based Bankruptcy Management Solutions (BMS) unveiled a new name and brand, Stretto, intended to “reflect the company’s growth and evolution into a full-service bankruptcy-administration technology and services provider.” Eric Kurtzman, co-CEO at Stretto, stated, “We’re excited to announce the launch of our new brand and, in essence, a new…
January 22, 2019 – The Debtors filed notice that their Amended Joint Prepackaged Chapter 11 Plan of Reorganization became effective as of January 22, 2019 [Docket No. 315]. The Court had previously confirmed the Plan on December 21, 2018 [Docket No. 282]. The Debtors, a pure play Mid-Continent independent energy company engaged in the exploration,…
January 17, 2019 – The Debtors notified [Docket No. 2207] the Court hearing the iHeartMedia case that they had reached an agreement in principle with Wilmington Savings Fund Society, FSB (the “Legacy Notes Trustee”) regarding a settlement and related proposed modifications to the Debtors’ Modified Fifth Amended Joint Chapter 11 Plan of Reorganization of iHeartMedia,…
January 21, 2019 – The Debtors notified the Court [Docket No. 1112] hearing the Westmoreland Coal Company case that further to Court approved bidding procedures [Docket No. 519], and having not received any qualified bids other than that of the stalking horse bidder (the “Stalking Horse Bidder”), it had cancelled the auction scheduled for January…
January 18, 2019 – The Court hearing the Shopko Stores case issued an order authorizing (i) debtor-in-possession (“DIP”) financing consisting of (a) a senior secured superpriority revolving credit facility up to the aggregate principal amount of up to $400mn, (b) a senior secured first-in-last-out revolving credit facility of up to $30mn and (c) a senior…
January 17, 2019 – The Debtors notified the Court hearing the Advanced Sports Enterprises case that, further to an auction held on January 16, 2019, HTM USA HOLDINGS, LLC (“Head” or the “Buyer”) had been chosen as the successfull bidder (the “Successful Bidder”) in respect of a purchase of substantially all of the Debtors’ assets…
January 17, 2018 – The Debtors requested Court authority, subsequently granted [Docket Nos. 62 and 86], to (a) assume an agency agreement, dated as of January 16, 2019, (the “Agency Agreement”) with Great American Group WF, Tiger Capital Group, Gordon Brothers Retail Partners, and Hilco Merchant Resources (collectively, the “Agent”) and (b) to conduct store…
