The U.S. Bankruptcy Court issued a final order approving Dakota Plains Holdings’ D.I.P. financing motion. As previously reported, “SunTrust Bank, in its capacity as administrative agent, and several banks and other financial institutions and lenders from time to time are the lenders. ” In addition, “By this Motion, the Debtors seek the following relief: the…

The U.S. Trustee assigned to the Peabody Energy case filed with the U.S. Bankruptcy Court an objection to the Debtors’ motion for an order (i) approving (a) a private placement agreement and (b) backstop commitment agreement; (ii) authorizing the Debtors to enter into (a) a plan support agreement, (b) private placement agreement and (c) backstop…

The U.S. Bankruptcy Court approved Stone Energy’s motion to assume a purchase and sale agreement with stalking horse bidder TH Exploration, break-up fee and expense reimbursement and the sale of certain assets of the Debtors located in Appalachia free and clear of all claims, liens, liabilities, rights, interests and encumbrances except for permitted title encumbrances….

Erickson filed with the U.S. Bankruptcy Court an Amended Joint Chapter 11 Plan of Reorganization and related Disclosure Statement. According to the Disclosure Statement, “The Plan provides for the resolution of Claims against and Interests in the Debtors and implements a distribution scheme pursuant to the Bankruptcy Code. Distributions under the Plan shall be made…

On January 19, 2017, Moody’s Investors Service downgraded Nine West Holdings, Inc.’s corporate family rating to Caa3 from Caa2, probability of default rating to Caa3-PD from Caa2-PD, Senior Secured Bank Credit Facility to Caa1 from B3, Senior Unsecured Bank Credit Facility to Caa3 from Caa2 and other Senior Unsecured debt to Ca from Caa3. “Despite…

The United States, on behalf of the Defense Information Systems Agency (DISA), filed with the U.S. Bankruptcy Court an objection to Xtera Communications’ (i) proposed sale of assets and (ii) the potential assumption of a federal contract. The objection explains, “The United States objects to the setting of a zero cure amount for the DISA…

The U.S. Bankruptcy Court approved Homer City Generation’s redacted motion for an order authorizing (a) assumption of engagement letter between the Debtor and Morgan Stanley Senior Funding, as lead arranger for exit or other financing; (b) payment of related fees and expenses and (c) indemnification of Morgan Stanley Senior Funding. As previously reported, “The Debtor…

Ultra Petroleum filed with the U.S. Bankruptcy Court a First Amended Joint Chapter 11 Plan of Reorganization and related Disclosure statement. According to the Disclosure Statement, “The Debtors may modify the Plan prior to Confirmation to, among other things, treat the OpCo Note Makewhole Claims as OpCo Note Claims, to the extent permitted or required…

Netherlands-based Metinvest filed for Chapter 15 protection with the U.S. Bankruptcy Court in the District of Delaware, case number 17-10130. The Company, which operates as an integrated steel and mining company in Ukraine, is represented by Joseph M. Barry of Young Conaway Stargatt & Taylor. According to documents filed with the Court, Metinvest obtained relief…

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