July 11, 2021 – The Debtors have filed a motion requesting authority to amend their Senior Secured Super-Priority Debtor-in-Possession Promissory Note (the “DIP Agreement”) pursuant to the terms of an Amendment No. 1 to that agreement (the “DIP Amendment,” a copy of which is attached as Exhibit 1 to a proposed order, itself attached to…
July 8, 2021 – Pipeline Foods, LLC and four affiliated Debtors (“Pipeline” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 21-11002 (Judge Owens). The Debtors, "the first U.S.-based supply chain solutions company focused exclusively on non-GMO, organic, and regenerative food and feed,"…
July 7, 2021 – An ad hoc committee of preferred shareholders (the “Ad Hoc Committee”) has objected to the Debtors' proposed bidding procedures [Docket No. 237] arguing that they "are merely a device to attain the fait accompli contemplated by Restructuring Support Agreement’s (‘RSA’) of enabling a small group of four debt holders to wipe…
July 6, 2021 – MatlinPatterson Global Opportunities Partners II L.P. and six affiliated Debtors (“MPII” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 21-11255 (Judge Jones). The Debtors, private investment funds with a focus on distressed investing, are represented by…
July 2, 2021 – Further to the Court’s June 7th bidding procedures order [Docket No. 256] and the completion of an auction held on June 30th, the Debtors have now filed an asset purchase agreement (the “Boeing APA”) amongst the Debtors, The Boeing Company ("Boeing" or "Parent") and Boeing's acquisition vehicle Central Kansas Aerospace Manufacturing,…
July 1, 2021 – Certain of the Debtors' prepetition lenders (the "Senior Lenders*") have reacted quickly to the Debtors' motion for Court authority to replace its former, Court-approved, stalking horse (Monarch Alternative Capital LP, or “Monarch”) with DIP lender JMB Capital Partners Lending, LLC (“JMB” or the “Stalking Horse Bidder”) [Docket No. 547], arguing that…
June 30, 2021 – Further to the Court’s June 7th bidding procedures order [Docket No. 256] and the completion of an auction held on June 30th, the Debtors notified the Court that they have designated The Boeing Company ("Boeing") as the Successful Bidder in respect of itheir Kansas assets (the "Kansas Assets"); with NWI Wellington,…
June 28, 2021 – The Debtor filed a motion to extend the periods during which it has an exclusive right to file a Plan and solicit acceptances thereof, through and including October 27, 2021 and December 28, 2021, respectively [Docket No. 816]. Absent the requested relief, the Plan filing and solicitation periods are scheduled to…
June 28, 2021 – The Debtor filed a supplemental motion seeking Court authority (i) to replace its existing, Court-approved, stalking horse (Monarch Alternative Capital LP, or “Monarch”) with DIP lender JMB Capital Partners Lending, LLC (“JMB” or the “Stalking Horse Bidder”), (ii) approve bidder protections for JMB and (iii) amend its auction/sale timetable to schedule…
[Just filed. To be Updated] June 27, 2021 – Agilon Energy Holdings II LLC (“Agilon” or the “Debtor”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 21-32156 (Judge TBD). The Debtor, a Houston-based provider of peak energy, is represented by Elizabeth M. Guffy of…
