December 8, 2020 – Further to a November 10th bidding procedures order [Docket No. 141] and the conclusion of a December 7th auction [Docket No. 200], the Debtors designated MEP Capital Management, LLC and affiliates of GoDigital Media Group, Inc. (winning bid $9.6mn) as the Successful Bidder for their sale of Assets, with GuruNanda, LLC…

December 8, 2020 – The Court hearing the White Stallion Energy cases issued an interim debtor-in-possession ("DIP") financing order authorizing the Debtors to (i) access $3.0mn of new money DIP financing, (ii) roll-up of $8.6mn of the Debtors' prepetition term loan facility (the "Prepetition Term Loan Facility) and (iii) use cash collateral [Docket No. 69]….

December 8, 2020 – The Court hearing the Ascena Retail Group cases issued an order approving the $540.0mn private sale of the Debtors' remaining businesses, comprised of the Lane Bryant brand and the Premium business segment (the latter including Ann Taylor, LOFT, and Lou & Grey brands) to Premium Apparel LLC (the “Buyer”), an affiliate…

Francesca’s Holdings Corporation – Women’s Fashion Boutique Gains Access to $15mn (New Money) DIP Financing from Tiger Finance, January 4th Final Hearing December 8, 2020 – The Court hearing the Francesca’s Holdings Corporation cases authorized the Debtors to (i) access $15.0mn in debtor-in-possession (“DIP”) financing on an interim basis and (ii) use cash collateral [Docket…

December 4, 2020 – The Debtors filed a motion requesting (i) authority to assume a store closing consultancy agreement with Tiger Capital Group, LLC (the “Consultant”) and (ii) approval of proposed store closing procedures (the “Store Closing Procedures”) [Docket No. 46]. As of December 1, 2020, the Debtors operated 558 boutiques in 45 states and…

December 8, 2020 – The Court hearing the Superior Energy Services cases issued an interim debtor-in-possession ("DIP") order authorizing the Debtors to (i) roll up $47.7mn of prepetition letters of credit ("LOC") and (ii) use cash collateral  [Docket No. 97]. On December 7th, the Debtors requested access to $120.0mn of DIP financing (in the form…

December 7, 2020 – The Debtor filed a motion to extend (for a third time) the periods during which it has an exclusive right to file a Plan and solicit acceptances thereof, through and including February 19, 2021 and April 26, 2021, respectively [Docket No. 1175]. Absent the requested relief, the Plan filing and solicitation…