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November 21, 2019− Bumble Bee Parent, Inc. and four affiliated Debtors (“Bumble Bee” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-12502. The Debtors, one of North America’s largest branded shelf-stable seafood providers, are represented by Pauline K. Morgan of Young Conaway…

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November 20, 2019 – At a continued hearing relating to a motion filed by CoBank, ACB, as Administrative Agent and Lender (“CoBank”), Judge Peter C. McKittrick issued an order (to be redrafted by CoBank's counsel) giving CoBank relief from the automatic stay imposed by section 362 of the Bankruptcy Code (the “Automatic Stay”), but (i)…

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November 20, 2019 – Black Diamond Commercial Finance ("BDCF"), as Administrative Agent for the Debtors' 2015 term loans (the "Term Loans," $51.0mn outstanding as at Petition date), filed a complaint against the Debtors alleging that the credit agreement in respect of the Term Loans is subject to "multiple defaults" which render invalid a 2018 refinancing…

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GCX Limited – Plan Supplement Includes Liquidation Analysis, Financial Projections, and Details of the New Board November 20, 2019 – The Debtors filed a Plan Supplement to their Joint Pre-Packaged Chapter 11 Plan [Docket No. 156] in anticipation of their December 4th Plan confirmation hearing. The Supplement attached the following documents: Exhibit A: Liquidation Analysis…

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November 19, 2019 – The Court hearing the Dura Automotive Systems cases issued an order (i) approving bidding procedures in respect of a sale of substantially all the Debtors’ assets, including in respect of bid protections and credit bidding, and (ii) scheduling an auction/sale timetable culminating with an auction, if necessary, on January 27, 2020…

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November 18, 2019 – The Department of Health and Human Services (“DHHS”) objected [Docket No. 482] to the Debtors' combined Disclosure Statement and Joint Chapter 11 Plan of Liquidation [Docket No. 482] citing the Plan's failure to protect the DHHS's right to recover amounts that it has been obligated to pay the Debtors' further to…

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November 18, 2019 – The Debtors' Official Committee of Unsecured Creditors (the “Committee”) filed an emergency motion seeking conversion of the Debtors’ Chapter 11 cases to cases under Chapter 7 [Docket No. 458]. This motion follows a similar November 14th filing by the U.S. Trustee assigned to the Debtors' cases [Docket No. 441]. In both…

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November 18, 2019 − Approach Resources Inc. and six affiliated Debtors (NASDAQ Global Select: AREX, “Approach” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 19-36444. The Debtors, who engage in the exploration, development, production and acquisition of unconventional oil and gas…

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November 14, 2019 – The Court hearing the Destination Maternity Corporation case issued an order approving bidding procedure for the sale of assets [Docket No. 253] and scheduled sale hearing for December 12, 2019. Significantly, the order preserves the expedited auction/sale timetable which culminates in a December 12th sale hearing. The order includes one significant…

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November 14, 2019− HRI Holding Corp. and 38 affiliated Debtors (d/b/a as Houlihan's Restaurants, Inc. “HRI or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-12415. The Debtors, who own and operate forty-seven restaurants under the Houlihan's, J. Gilbert’s, Bristol and Devon brands,…