January 27, 2020 − BL Restaurants Holding, LLC and three affiliated Debtors (d/b/a Bar Louie, “Bar Louie” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 20-10156. The Debtors, who operate approximately110 gastrobars, are represented by Domenic E. Pacitti of Klehr Harrison Harvey…

January 23,2020 − DBMP LLC  (“DBMP” or the “Debtor”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Western District of North Carolina, lead case number 20-30080. The Debtor, a company formed in 2019 to hold the legacy asbestos liability of CertainTeed LLC, an indirect subsidiary of France's Saint-Gobain, is represented by…

January 23, 2020 − SFP Franchise Corp. and one affiliated Debtor (d/b/a Schurman Fine Papers, together with SFP Franchise Corp. “Schurman” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 20-10134. The Debtors, a stationery, greeting card, gifts, and paper products company based…

January 22, 2020 – The Debtors requested Court authority to access (i) $2.81bn of debtor-in-possession (“DIP”) financing and (ii) use cash collateral  [Docket No. 56]. The DIP financing is comprised of (i) a $2.067bn term loan facility (the "DIP Term Loan Facility") and (ii) a $743.0mn DIP letter of credit facility (the "DIP Letter of…

January 22, 2020 – The Debtors filed a motion [Docket No. 110] requesting Court approval for (i) bidding procedures in respect of the sale of the Debtors' Lummus Assets (the “Sale”) and (ii)  authorization to enter into a $2.725bn stalking horse asset purchase agreement (the "APA," attached to the motion) with Illuminate Buyer, LLC (the…

January 22, 2020 − In order to further a "strategic sale process," Fairway Group Holdings Corp. and 25 affiliated Debtors (“Fairway” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 20-10161. The Debtors, a leading food retailing destination in the Greater…

January 22, 2020 – The Court hearing the Clover Technologies Group cases approved the Debtors’ Prepackaged Chapter 11 Plan of Reorganization, paving the way for the Debtors to emerge deleveraged by more than $360.0mn and with holders of the Debtors' $644.1mn of pre-petition term loans owning 100% of the emerged Debtors' common stock [Docket No….

January 21, 2020 – Each of the Debtors' Official Committee of Unsecured Creditors (the “Committee”) and Black Diamond Commercial Finance, L.L.C. (“BDCF,” agent under the Debtors' Term Loan Facility, $36.5mn outstanding as at Petition date) filed motions seeking conversion of the Debtors’ Chapter 11 cases to cases under Chapter 7 [Docket Nos. 417 and 419,…

December 12, 2019 – The Court hearing the Bayou Steel BD Holdings cases issued an order approving the $28.0mn sale of substantially all of the Debtors' assets to Liberty BSG Holdings Inc. (the “Buyer”) [Docket No. 371]. The asset purchase agreement (“APA”) memorializing the sale is attached to the order as Exhibit 1.  Acquisition vehicle…

January 21, 2020 − McDermott International, Inc. and a plethora of affiliated Debtors (NYSE: MDR, “McDermott” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 20-30336. The Debtors, a Houston-based energy services company, are represented by Matthew D. Cavenaugh of Jackson Walker…