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May 4, 2023 – Bighorn Restaurants, LLC and five affiliated debtors (together “Bighorn” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Colorado, lead case No. 23-11919 (Judge Michael E. Romero). The Debtors, who are franchisees in respect of @108 Hardee’s restaurants* in Alabama, Florida, Georgia, South…

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May 3, 2023 – The Court has approved the Debtors' request to extend the periods during which they have an exclusive right to file a Plan and solicit acceptances thereof, through and including June 26, 2023 and August 25, 2023, respectively [Docket No. 1649]. Absent the requested relief, the Plan filing and solicitation periods are…

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April 25, 2023 – Further to a January 12th bidding procedures order [Docket No. 487], the Debtors notified the Court that they had canceled an auction scheduled for April 26th and designated M 7 Holdings, LLC (“M 7 Holdings,” a wholly owned subsidiary of Princeton, NJ-based Miami International Holdings, Inc. (“MIH”)) as the successful bidder…

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May 2, 2023 – Lannett Company, Inc. and three affiliated debtors (NYSE: LCI*, together “Lannett” or the “Debtors”) filed for Chapter 11 protection (on a "prepackaged basis") with the U.S. Bankruptcy Court in the District of Delaware, lead case No. 23-10559 (Judge TBD). Lannett, which "develops, manufactures, packages, markets, and distributes generic pharmaceutical products for…

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May 1, 2023 – The Debtors requested Court authority to: (i) access $6.5mn in new money, debtor-in-possession (“DIP”) financing, including $2.0mn on an interim basis to be provided by Invictus Global Management, LLC ("Invictus," or the “DIP Agent”), (ii) roll-up $20.7mn of prepetition obligations (including $2.8mn of prepetition bridge loans) obligations on a dollar-for-dollar basis…

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May 1, 2023 – The Court hearing the Virgin Orbit Holdings cases issued an order: (i) approving bidding procedures in relation to the sale of substantially all of the Debtor’s assets, (ii) authorizing the Debtors to enter into stalking horse arrangements (no potential stalking horse flagged yet, deadline to do so is May 17, 2023),…

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April 30, 2023 – Privately-held DeCurtis Holdings LLC and one affiliated debtor (together “DeCurtis” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case No. 23-10548 (Judge TBA). The Debtors, a "leader in transformational experience technology focused on cruise [experiences],*" are represented by Christopher A….

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April 27, 2023 – The Court hearing the Kalera case issued a second interim debtor-in-possession (“DIP”) financing order authorizing the Debtor to: (i) access a further $1.0mn in new money, DIP financing being provided prepetition lender (and distressed lending specialist) Sandton Credit Solutions Master Fund V, L.P. (“Sandton”) and (ii) continue using cash collateral [Docket…

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April 27, 2023 – The Court hearing the ESCO, Ltd. cases issued a final order authorizing the Debtors to: (i) assume a consultancy agreement with Gordon Brothers Retail Partners, LLC (the ‘Store Closing Consultant’), (ii) conduct store closing sales in respect of 39 stores operating under the Shoe City banners and (iii) implement store closing…

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April 27, 2023 – Tritek International Inc. and two affiliated debtors (the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case No. 23-10520 (Judge TBA). The Debtors, U.S subsidiaries* of Manitoba, Canada-based HyLife (a "vertically integrated operation for the raising, production and sale of pork products")…