January 3, 2023 – The Debtors filed a motion to extend (for a second time) the periods during which they have an exclusive right to file a Chapter 11 Plan, and solicit acceptances thereof, through and including May 3, 2023 and July 5, 2023, respectively [Docket No. 1067]. Absent the requested relief, the Plan filing…
December 30, 2022 – Further to the Court's revised bidding procedures order of October 6th [Docket No. 1287], the Debtor notified the Court that SAM Real Estate, LLC* had been designated as the stalking horse bidder (the “Stalking Horse Bidder,” $20mn bid) in respect of the sale of Debtor's MTPC, LLC assets (ie its Nashville,…
December 29, 2022 – The U.S. Trustee assigned to the Debtors cases objected to the Debtors’ proposed bidding procedures [Docket No. 124], arguing that "[t]he Bid Protections are not actually necessary to invite a bidder to the table. The Prepetition TPC Lenders have been at the table for more than two years prior to the…
December 28, 2022 – The Debtor filed a motion to extend (for a second time) the periods during which it has an exclusive right to file a Chapter 11 Plan and solicit acceptances thereof, through and including April 10, 2023 and July 24, 2023, respectively [Docket No. 330]. Absent the requested relief, the Plan filing…
December 29, 2022 – The Debtors filed a motion to extend the period during which the 181 West Madison Debtors have an exclusive right to file a Chapter 11 Plan and solicit acceptances thereof, through and including (in respect of both periods) February 28, 2023 [Docket No. 1189]. Absent the requested relief, the Plan filing…
December 28, 2022 – Times Square JV LLC and three affiliated Debtors (“Times Square JV” or the “Debtors”) filed for Chapter 11 protection* with the U.S. Bankruptcy Court in the Southern District of New York (Judge John P. Mastando III), lead case number 22-11715. The Debtors, owners and operators of a mixed-use property in central…
[Just filed. Developing story] December 21, 2022 – Core Scientific, Inc.and ten affiliated debtors (NASDAQ: CORZ; together "Core Scientific" or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case No. 22-90341 (Judge David R. Jones). The Debtors, "a leader in high-performance blockchain computing data…
December 15, 2022 – The Debtor requested Court approval of a settlement with SFJ Pharmaceuticals X, Ltd. (“SFJ”) [Docket No. 249] further to which the Debtor and SFJ will settle their adversary proceeding and SFJ will purchase Debtor’s bentracimab assets (the “Bentracimab Assets”), As detailed further below, SFJ will acquire the Bentracimab Assets "in satisfaction…
December 16, 2022 – Further to the Court’s September 8th bidding procedures order [Docket No. 354] and an auction concluded on December 14, 2022 [Docket No. 536], the Debtor designated Tallgrass MLP Operations, LLC (“Tallgrass”) as the successful bidder ($282.5mn bid), with EP Ruby LLC (“EP Ruby”) named as the back-up bidder ($276.0mn bid) [Docket…
December 9, 2022 – Further to the Court’s November 14th bidding procedures order [Docket No. 77] and an auction held on December 7th/8th, the Debtors have now filed the asset purchase agreement (the “APA") agreed with SyBridge Digital Solutions LLC* (“Purchaser,” $13.3mn purchase price) in respect of a sale of substantially all of their assets…
