November 14, 2018 – Rex Energy Corporation’s Amended Plan of Liquidation was declared effective and the Company emerged from Chapter 11 protection [Docket No. 1046]. The Court had previously confirmed the Debtors’ Plan on October 16, 2018 [Docket No. 1011]. The Debtors shifted to a Plan of Liquidation from a Plan of Reorganization after the…
November 14, 2018 – The Court hearing the Nine West Holdings case approved [Docket No. 864] the Debtors’ revised Disclosure Statement [Docket No. 837] related to the Company’s First Amended Joint Plan of Reorganization [Docket No. 836] and concurrently set a January 28, 2019 date for the Plan confirmation hearing. The following is an updated…
November 9, 2018 – Lucky Dragon Hotel & Casino’s Official Committee of Unsecured Creditors filed a motion to convert the Debtors’ Chapter 11 case to a case under Chapter 7 [Docket No. 964]. The Debtors state, “Through the Motion, the Committee seeks an order converting the Debtors’ Chapter 11 cases to cases under Chapter 7…
November 13, 2018 – Bank of America, N.A., acting in its capacity as Administrative Agent, Collateral Agent and L/C Issuer (the “Agent”) filed an objection [Docket No.758] to RMH Franchise Holdings’ extension motion [Docket No. 688]. Bank of America asserts, “Under 11 U.S.C. § 1121(d), the exclusive periods may only be extended by the Court…
November 13, 2018 – The U.S. Trustee assigned to the Welded Construction case filed an objection [Docket No. 196] to the Debtors’ Key Employee Incentive Plan (the “KEIP”) [Docket Nos. 121 and 122]. The U.S. Trustee asserts, “The Motion seeks approval of what the Debtors term a Key Employee Incentive Program (“KEIP”) for insiders. While…
November 9, 2018 – The Debtors’ Ad Hoc Group of Unsecured Noteholders filed an objection [Docket No. 835] to Nine West Holdings’ (“NWHI”) Disclosure Statement [Docket No. 783]. The Noteholders assert, “The Plan is centred upon a purported settlement of Debtor NWHI’s valuable claims against its equity holders for grossly inadequate consideration. The Ad Hoc…
November 12, 2018 – The NORDAM Group filed a Joint Postpackaged Chapter 11 Plan of Reorganization [Docket No. 657] and a related Disclosure Statement [Docket No. 658]. The following is the summary of claims, classes, voting rights and projected recoveries: Class 1 (“Priority Non-Tax Claims”) is unimpaired, presumed to accept and not entitled to vote…
November 9, 2018 – Nine West Holdings filed a First Amended Joint Plan of Reorganization [Docket No. 836] and a related revised Disclosure Statement [Docket No. 837]. The revised Disclosure Statement notes, “As part of the continued efforts to develop consensus around a viable chapter 11 plan, the Debtors have entered into Bankruptcy Court ordered…
November 12, 2018 – All American Oil & Gas Incorporated (“AAOG”) and two affiliated Debtors (Western Power & Steam, Inc. (“WPS”) and Kern River Holding Inc. (“KRH”) and together with AAOG and WPS, the “Company” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Western District of Texas, lead…
November 9, 2018 – The Court hearing the Tops Holding II case confirmed [Docket No. 765] the Company’s Second Amended Joint Chapter 11 Plan of Reorganization (with Technical Modifications) [Docket No. 751]. As previously reported [Docket No. 548] “The Plan provides for the substantial reduction of the Debtors’ funded debt by approximately $455 million and…
