Hercules Offshore’s Amended and Modified Joint Prepackaged Chapter 11 Plan that incorporates a mediation settlement became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed the Plan on November 15, 2016. According to BankruptcyData’s summary, “Under the terms of the Plan, all of the Company’s assets will be marketed for…

The U.S. Bankruptcy Court approved Chaparral Energy’s motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including January 11, 2017 and March 13, 2017, respectively. As previously reported, “The Debtors are working with the Prepetition Lenders and the Ad Hoc Committee to…

Hancock Fabrics filed with the U.S. Bankruptcy Court a Joint Chapter 11 Plan of Liquidation and related Disclosure Statement. According to the Disclosure Statement, holders of administrative claims and other priority claims and holders of priority tax claims will be paid full in cash. Holders of Wells Fargo pre-petition claims, GACP pre-petition claims and noteholder…

The U.S. Bankruptcy Court issued an order approving Golfsmith International Holdings’ key employee retention program (KERP). As previously reported, “To successfully implement the recent sale of substantially all of Golfsmith’s assets, the sale of Golf Town and related transition services, and the orderly wind down of the Debtors’ estates, the Debtors must retain certain key…

The U.S. Bankruptcy Court issued an order approving Key Energy Services’ plan support agreement (PSA) by and among the Debtors, certain holders of senior notes claims, certain holders of term loan claims and the supporting creditors. As previously reported, “The Plan Support Agreement provides a clear path towards a comprehensive financial restructuring that will reduce…

The U.S. Bankruptcy Court approved DirectBuy Holdings’ motion for orders (i) approving a stalking horse asset purchase agreement and procedures in connection with the sale of all or substantially all of the Debtors’ business assets, scheduling the related auction and a hearing to consider approval of sale and (ii) authorizing the sale of all or…

Energy Future Holdings filed with the U.S. Bankruptcy Court a Fifth Amended Joint Plan of Reorganization and related Disclosure Statement, as it applies to the EFH Debtors and EFIH Debtors. The Disclosure Statement notes, “Specifically, the Plan was amended to reflect the following key changes: The condition precedent to consummation of the Plan requiring the…

Peabody Energy filed with the U.S. Bankruptcy Court a second motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including February 13, 2017 and March 17, 2017, respectively. The motion explains, “The Debtors’ 153 chapter 11 cases and their attendant complexities alone…

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