July 6, 2020 – Further to an objection filed by their prepetition senior lenders (the "Bank Group"), the Debtors have filed a revised motion which requests authority to (i) access $45.0mn of debtor-in-possession (“DIP”) financing to be provided by JMB Capital and (ii) use cash collateral [Docket No. 196]. The requested DIP financing has been…
July 5, 2020 – Further to a February 18th bidding procedures order [Docket No. 102], the Debtors notified the Court hearing their cases that they had (i) selected Pier 1 Imports Online, Inc. (the "Stalking Horse Bidder") in connection with the sale of intellectual property assets and (ii) scheduled an auction in respect of those…
July 3, 2020 – Lucky Brand Dungarees, LLC and four affiliated Debtors (“Lucky Brand” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 20-11768 (Judge Sontchi). The Debtors, a fashion designer and premium denim manufacturer (112 specialty retail stores and 98 outlet stores…
June 30, 2020 – The Debtors notified the Court that their Second Amended Joint Chapter 11 Plan had become effective as of June 30, 2020 [Docket No. 1417]. On April 30, 2020, the Court confirmed the Debtors’ the Second Amended Joint Chapter 11 Plan of Reorganization [Docket No. 1212]. On August 11, 2019, Sanchez Energy…
July 1, 2020 – NPC International, Inc. and seven affiliated Debtors (“NPC” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 20-33353. The Debtors, the USA's largest restaurant franchisee with 1,227 Pizza Hut restaurants and 393 Wendy’s restaurants, are represented by Alfredo…
June 29, 2020 – Further to a June 29th Plan confirmation hearing, the Court hearing the Quorum Health Corporation cases confirmed the Debtors' Prepackaged Chapter 11 Plan of Reorganization. The Court's confirmation order was issued on June 30th [Docket No. 556]. On April 7, 2020, Quorum Health Corporation and over 100 affiliated Debtors (NYSE: QHC,…
[Developing story] June 28, 2020 – Chesapeake Energy Corporation and 40 affiliated Debtors (NYSE: CHK; “Chesapeake” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 20-33233. The Debtors, an independent E&P with "a geographically diverse portfolio of onshore U.S. unconventional liquids and…
June 25, 2020 – The Court hearing the Windstream Holdings cases confirmed the Debtors' First Amended Joint Chapter 11 Plan of Reorganization. Judge Robert Drain left several large stakeholders deeply disappointed with his order approving a Plan which Judge Drain himself conceded was an "unfortunate result, obviously." The Court's Plan confirmation order was filed on…
June 24, 2020 – The Debtors filed a motion requesting Court authority to (i) begin a U.S. and Canadian store closing/sales process and (ii) assume an existing consulting agreement with each of (a) Tiger Capital Group, LLC and Great American Group, LLC (collectively, the “U.S. Consultant”) and (b) Tiger Asset Solutions Canada, ULC and GA…
June 22, 2020 – The Debtors filed a First Amended Joint Chapter 11 Plan of Reorganization with technical modification [Docket No. 2201] which included a redline showing changes from the version of the Plan filed on May 14, 2020 [1812]. The technical modification did not include any changes to the Debtors' classes, claims, voting rights,…
