Gordian Group LLC announced that Fred Zeidman has become Chairman of the firm, effective immediately. Peter S. Kaufman continues as President, and Henry F. Owsley remains as Gordian Group’s Chief Executive Officer. Zeidman has been involved in numerous high-profile workouts, restructurings and reorganizations. He was the former C.E.O., President and Chairman of Seitel, Inc., where…

On February 21, 2018, S&P Global Ratings lowered its corporate credit rating to CCC- from CCC on Gibson Brands, Inc. and its $375 million senior secured notes due August 2018 were lowered to CCC- from CCC. According to S&P Global, the downgrade reflects the increased likelihood that Gibson Brands could experience a near-term liquidity shortfall…

In Form 10-K filed on February 20, 2018, for the year ended December 31, 2017, FirstEnergy Solutions Corp.’s (FES) auditor, PricewaterhouseCoopers LLP, raised substantial doubt about the Company’s ability to continue as a going concern. According to PricewaterhouseCoopers, the Company’s current financial position and the challenging market conditions impacting liquidity raise substantial doubt about its…

The U.S. Bankruptcy Court issued an order approving Uni-Pixel’s motion to convert its Chapter 11 reorganization case to a liquidation under Chapter 7. The order states, “The case of Uni-Pixel, Inc. (Case no. 17-52100) and the case of Uni-Pixel Displays, Inc. (Case no. 17-52101) is converted from chapter 11 to chapter 7….The United States Trustee…

The U.S. Bankruptcy Court approved EXCO Resources’ key employee retention plan (KERP) for non-insider employees. As previously reported, “By this motion, the Debtors seek entry of an order, approving and authorizing the Debtors to continue the KERP for approximately 144 of the Debtors’ non-insider employees, providing for an award pool of approximately $3.3 million in…

Page 1 of 1012345...10...Last »