December 4, 2019 − Meade Instruments Corp. and one affiliated Debtor, Sunny Optics Inc. (together, “Meade” or the “Debtors”), filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Central District of California, lead case number 19-14714. The Irvine, California- based Debtors, represented by Robert P Goe of Goe Forsythe & Hedges LLP,…

December 5, 2019 – An ad hoc group of holders of the Debtors unsecured notes (the “Ad Hoc Group”) and the Debtors' Official Committee of Unsecured Creditors (the “Committee”) have each objected to the Debtors’ motion to appoint Mohsin Y. Meghji as the Debtors' Chief Restructuring Officer [Docket Nos. 668 and 672, respectively]. Mr. Meghji…

December 5, 2019 – The Court hearing the Astria Health cases has extended (for a second time) the periods during which the Debtors have an exclusive right to file a Chapter 11 Plan, and solicit acceptances thereof, through and including January 31, 2020 and March 31, 2020, respectively [Docket No. 802]. Absent the requested relief,…

December 3, 2019 − Privately held Marshall Broadcasting Group, Inc. (“MBG” or the “Debtor”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 19-36743. The Debtor, an American television broadcasting company that owns three television stations in Iowa, Louisiana and Texas, is represented by Jason…

December 3, 2019 – Further to a settlement reached during a Court recess, an objection filed by the Debtors' Official Committee of Unsecured Creditors (the “Committee”) to the selection of Marquee Brands, LLC (“Marquee”) as stalking horse bidder has been withdrawn; and the Court has issued an order [Docket No. 398] approving (i) Marquee as…

December 2, 2019 – Further to the November 1st motion of the Debtor's official committee of unsecured creditors (the “Committee”), the Delaware Court hearing the Highland Capital Management, L.P. case has agreed, against the Debtor's wishes, to send that case to the Northern District of Texas where, the Court argues, venue is more appropriate [Docket…

December 2, 2019 – The Debtors filed a Modified Joint Prepackaged Chapter 11 Plan and a related blackline showing changes from the version of the Plan filed on September 15, 2019 [Docket Nos. 169 and 170, respectively]. The lightly revised Plan does not introduce any material amendments to classes and claims, which are otherwise summarized…

November 12, 2019 – The Court hearing the Weatherford International cases has authorized the Debtors to enter into (i) a November 11, 2019 commitment letter and (ii) a series of fee letters; in each case relating to the Debtors' anticipated exit financing [Docket No.433, which attaches an executed version of the commitment letter, although the…

November 25, 2019 – The Court hearing the Bumble Bee Parent cases issued an order authorizing the Debtors to (i) access $240.0mn of debtor-in-possession (“DIP”) financing and (ii) use cash collateral [Docket No. 68]. The approved DIP financing consists of (a) $40.0mn of what will ultimately be an $80.0mn, new money, multiple draw term loan…

November 26, 2019 – The Court hearing the Barneys New York cases has extended the periods during which the Debtors have an exclusive right to file a Chapter 11 Plan, and solicit acceptances thereof, through and including April 2, 2020 and June 1, 2020, respectively [Docket No. 552]. The Court, perhaps unsurprisingly, given the intermingling…