November 22, 2021 – The Court hearing the Limetree Bay Refining cases issued an order approving amended bidding procedures in respect of a sale of substantially all of the Debtors’ assets [Docket No. 813]. As amended (the original order issued on August 11 at Docket No. 392) the bidding procedures order provides recently named stalking…
November 22, 2021 – Further to the Debtors' June 22nd motion [Docket No. 560], the Court hearing the PSI Liquidation, Inc. (f/k/a Paper Source, Inc.) cases issued an order dismissing the Debtors’ Chapter 11 cases [Docket No. 816]. In the June 22nd motion, the Debtors requested a pair of Court orders: (i) an “Implementation Order”…
November 19, 2021 – The Debtors filed an Amended Plan of Reorganization and a related Disclosure Statement [Docket Nos. 342 and 343, respectively], and separately filed redlines of each document showing changes to the versions filed on October 4, 2021 [Docket No. 348]. The Debtors' heavily revised Plan and Disclosure Statement reflect the abandonment of…
November 19, 2021 – The Court hearing the Aluminum Shapes case issued an order approving the $32.0mn sale of substantially all of the Debtor's assets to VV9000 LLC (the “Buyer”) [Docket No. 282]. The order caps what has been a somewhat chaotic sale/auction process that has seen (i) Reich Bros, (ii) a newly formed Delaware…
November 19, 2021 – The Debtors notified the Court that their Prepackaged Chapter 11 Plan of Reorganization had become effective as of November 19, 2021 [Docket No. 106]. The Court had previously confirmed the Debtors’ Plan on November 12, 2021, adding these Debtors to a growing list of "super speed" Chapter 11 filers who win…
November 18, 2021 – The Debtors' November 3rd motion seeking authority to transition and assign 24 facilities (that they lease from Omega Healthcare Investors, Inc. or "Omega") subject to Management and Operations Transfer Agreements (“MOTA(s)”) [Docket No. 166] has drawn a flurry of objections including from (i) the "Noteholder Claimants" (defined below) [Docket No. 281],…
November 17, 2021 – Alto Maipo Delaware LLC and Alto Maipo SpA (together “Alto Maipo” or the “Debtors,” with the Delaware LLC created just prior to filing) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 21-11507 (Judge TBA). The Debtors, owners of a not yet…
[Just filed. Developing story.] November 17, 2021 – Alto Maipo Delaware LLC and Alto Maipo SpA (together “Alto Maipo” or the “Debtors,” with the Delaware LLC created just prior to filing) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 21-11507 (Judge TBA). The Debtors, owners…
November 16, 2021 – The Court hearing the Corp Group Banking cases has extended the periods during which the Debtors have an exclusive right to file a Plan and solicit acceptances thereof, through and including January 7, 2022 and March 10, 2022, respectively [Docket No. 338]. Absent the relief, the Plan filing and solicitation periods…
November 16, 2021 – Further to a September 15th bidding procedures order [Docket No. 198] and an auction conducted on November 4th, the Court hearing the Alpha Latam Management cases issued an order approving the sale of substantially all of the loan portfolio of Alpha Capital S.A.S. and Vive Créditos Kusida S.A.S. and certain related…
