On December 14, 2017, Moody’s Investors Service downgraded the corporate family rating and senior secured first lien term loan rating for TOMS Shoes, LLC, each to Caa3 from Caa2. The Company’s Caa2-PD probability of default rating was affirmed. According to Moody’s, the downgrades reflect Moody’s estimate of a below average family recovery rate in a…

U.S. Bank National Association filed with the U.S. Bankruptcy Court an objection to GenOn Energy’s Third Amended Joint Chapter 11 Plan of Reorganization. The objection asserts, “By virtue of filing of an amended plan and related plan supplement, the Debtors purport to have filed a motion pursuant to Bankruptcy Rule 9019 to approve a so-called…

The U.S. Trustee assigned to the Energy Future Holdings case and Delaware Trust Company filed with the U.S. Bankruptcy Court a separate final objection and reservation of rights, respectively, to Energy Future Holdings’ First Amended Joint Plan of Reorganization. The Trustee asserts, “The E-Side Plan may be otherwise confirmed but only to the extent that…

Privately-held Cotter Tower – Oklahoma, L.P. (Cotter Tower) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Western District of Texas, case number 17-52844. Cotter Tower is located in San Antonio, Texas. The Company is currently led by Marcus P. Rogers as Acting President, and is represented in bankruptcy proceedings by H….

Armstrong Energy filed with the U.S. Bankruptcy Court a motion for entry of an order approving the Debtors’ non-insider retention program. The motion explains, “The Debtors seek entry of an order (a) approving the Debtors’ Non-Insider Retention Program for approximately 510 non-insider employees (collectively, the ‘Program Participants’), providing for an award pool of approximately $255,000…

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