October 16, 2018 – Mission Coal Company (“Mission Coal” or the “Company”) and 10 affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Northern District of Alabama, lead case number 18- 23538 [Docket No. 1]. Mission Coal, a Kingsport, Tennessee-based energy company which produces and markets mostly metallurgical coal, is…
October 15, 2018 – Sears Holdings requested Court approval for postpetition, debtor-in-possession (“DIP”) financing and the use of cash collateral [Docket No. 7]. The financing motion explains, “The Prepetition First Lien Lenders have agreed to provide up to $1.83 billion senior secured superpriority priming debtor in possession asset-based credit facility (the ‘DIP ABL Facility’), with…
October 15, 2018 – The Court hearing the RMH Franchise Holdings case approved the Disclosure Statement related to the Company’s First Amended Joint Plan of Reorganization [Docket No. 648]. As previously reported [Docket No. 620], “The Plan implements a comprehensive restructuring of the Debtors through the issuance of the Plan Sponsor New Common Stock to…
October 15, 2018 – Sears Holdings filed with the Court a motion seeking approval of (i) procedures for store closing sales and (ii) assumption of a liquidation consulting agreement with Abacus Advisors Group [Docket No. 23]. The motion, which attaches a list of the 142 stores to be closed. explains, “Closing the Closing Stores will…
October 15, 2018 – American Tire Distributors filed a Joint Plan of Reorganization [Docket No. 152] and related Disclosure Statement [Docket No. 153]; and scheduled a November 15, 2018 hearing to consider the Disclosure Statement, with objections due by November 12, 2018. The Disclosure Statement notes, “If the Plan is confirmed and consummated, Holders of…
September 4, 2015 – Oak Point Partners acquired the remnant assets of Brobeck, Phleger and Harrison LLP Bankruptcy Estate in September 2015. On September 17, 2003, an involuntary petition for chapter 7 relief was filed against Brobeck, Phleger and Harrison LLP in the United States Bankruptcy Court for the Northern District of California, assigned Case…
October 11, 2018 – RMH Franchise Holdings filed “Term Sheet for Amended Credit Agreement” as Exhibit C to its First Amended Joint Chapter 11 Plan of Reorganization [Docket No. 630]. The term sheet notes that “the Amended Credit Agreement will constitute a modification to and not a novation of the Credit Agreement” and includes the…
October 13, 2018 – Nine West Holdings’ (NWHI) Official Committee of Unsecured Creditors requested Court authority to commence and prosecute certain claims on behalf of the NWHI estate and exclusive settlement authority in respect of such claims [Docket No. 735]. The Committee explains, “The Committee seeks leave to prosecute fraudulent transfer and other claims for…
October 12, 2018 – Point.360 filed with the Court a First Amended Chapter 11 Plan [Docket No. 368] and a related Disclosure Statement [Docket No. 369]. The Disclosure Statement attaches the following exhibits: Exhibit 1: Claims listings by plan class Exhibit 2: Cash flow projections for the term of the Plan Exhibit 3: Prepetition…
October 12, 2018 – Claire’s Stores Third Amended Joint Chapter 11 Plan of Reorganization was declared effective [Docket No. 1079]. The Plan was previously confirmed by the Court on September 21, 2018 [Docket No. 1034]. In a press release announcing its exit from Chapter 11 the Company noted, “With support from its creditors and stakeholders,…
