October 31, 2016 – Oak Point Partners, Inc. acquired the remnant assets of the marchFIRST, Inc. bankruptcy estate in October 2016. On April 11, 2001, MarchFIRST, Inc. filed a voluntary petition for Chapter 11 relief in the United States Bankruptcy Court for the District of Delaware. Thereafter, on April 25, 2001, the case was converted…
October 5, 2018 – American Tire Distributors (“ATD”) notified the Court that it had reached a settlement with holders of a majority of its term loans whereby those holders have agreed to support the restructuring support agreement announced by the Debtors on October 4, 2018 [Docket No. 128]. The settlement notes, “On October 5, 2018,…
October 5, 2018 – The Court hearing the American Tire Distributors case issued an order authorizing the Debtors to (i) obtain interim debtor-in-possession (“DIP”) postpetition financing and (ii) utilize cash collateral [Docket No. 109]. The interim DIP order will allow the Debtors to access up to $800 million of the ABL DIP Loan and $190…
October 5, 2018 – Mattress Firm requested Court approval for postpetition, debtor-in-possession (“DIP”) financing [Docket No. 16] in respect of which Barclays Bank PLC is to serve as administrative agent and co-collateral agent (the “ABL DIP Agents”) and Citizens Bank is to serve as a co-collateral agent. The DIP financing motion explains, “The Debtors were…
October 5, 2018 – Toys (Labuan) Holding Limited (hereinafter, “Toys Labuan” or the “Asia JV”) objected [Docket No. 5152] to confirmation of the Second Amended Chapter 11 Plans of the Toys Delaware and Geoffrey Debtors [Docket No. 4542]. Toys Labuan asserts, “The Debtors’ 84.47% indirect equity interest in the Asia JV is by far the…
October 5, 2018 – PlayFusion Limited (“PlayFusion”) filed an objection [Docket No. 5149] to confirmation of the Second Amended Chapter 11 Plans of the Toys Delaware Debtors and Geoffrey Debtors [Docket No. 4542]. PlayFusion explains, “PlayFusion holds an Administrative Claim against Toys Delaware and Geoffrey, and it has ‘opted out’ of the Settlement Agreement, whereby…
October 4, 2018 – National Public Finance Guarantee Corporation, Assured Guaranty Corp., Assured Guaranty Municipal Corp., and Syncora Guarantee Inc. (collectively, the “Movants”), who are holders and/or insurers of bonds issued by the Puerto Rico Electric Power Authority (“PREPA”), filed with the Court a motion to lift the cases’s automatic stay and commence an action…
October 5, 2018 – The U.S. Bankruptcy Court hearing the Brookstone case has approved (i) the Debtors’ sale motion of August 8, 2018, (ii) the Debtors’ asset purchase agreement with BKST Brand Holdings LLC, a subsidiary of Bluestar Alliance LLC, (the “Bluestar APA”) and (iii) the Debtors’ asset purchase agreement with Apex Digital Inc (the…
October 5, 2018 – Mattress Firm and 40 affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 18-12241. Mattress Firm, which is headquartered in Houston, Texas operates as a specialty retailer of mattresses and related products and accessories in the United States. The Company,…
October 1, 2018 – Toys “R” Us notfied the Court of its intention to cancel its scheduled intellectual property auction and its plans for a Toys “R” Us and Babies “R” Us branding company [Docket No. 5058]. The Debtors explain, “On June 28, 2018, the Court entered the Order (I) Amending the U.S. Intellectual Property…
