The U.S. Bankruptcy Court approved Hancock Fabrics’ motion for an order authorizing the Debtor’s private sale of certain real and related personal property to Southern Motion and approving the purchase agreement related thereto. As previously reported, “The Property has been used as the Debtor’s corporate headquarters, warehouse and distribution facility since it was acquired by…

The U.S. Bankruptcy Court issued an order (1) authorizing Local Corporation to distribute funds to creditors and (2) dismissing its Chapter 11 case. The order states, “The Debtor is authorized to distribute funds in accordance with the Estimated Distribution Schedule attached as Exhibit ‘1’ to the Cragun Declaration, as amended by the Supplemental Cragun Declaration,…

Atlas Resource Partners filed with the U.S. Bankruptcy Court a motion for entry of an order authorizing the assumption of the restructuring support agreement (RSA). According to documents filed with the Court, “Specifically, the consensual restructuring facilitated by the Restructuring Support Agreement allows the Debtors to deleverage their balance sheet and reduce annual debt service…

The Securities and Exchange Commission and United States of America filed with the U.S. Bankruptcy Court separate objections to Hercules Offshore’s Joint Prepackaged Chapter 11 Plan. The SEC asserts, “The release provisions must be deleted from the plan because they are not consensual and do not meet the standard for nonconsensual releases.…Because the Nondebtor Third…

The U.S. Bankruptcy Court approved GreenHunter Resources’ motion to extend by 60 days the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including August 29, 2016 and October 28, 2016, respectively. As previously reported, “Termination of exclusivity could be very disruptive to the Debtors’ efforts…

Ultra Petroleum filed with the U.S. Bankruptcy Court a motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including February 28, 2017 and April 30, 2017, respectively. The motion explains, “The Debtors already have demonstrated that they can obtain consensus in these…

Breitburn Energy Partners filed with the U.S. Bankruptcy Court a motion for entry of an order approving Debtors’ retention and incentive programs for certain key employees. The motion explains, “The Debtors believe that the Employee Programs are essential to appropriately motivate an already lean workforce during these chapter 11 cases, particularly in the challenging environment…

Sabine Oil & Gas filed with the U.S. Bankruptcy Court a Supplement to its Second Amended Joint Chapter 11 Plan of Reorganization. The Supplement contains the following documents: Exhibit A: warrant agreements, Exhibit B: management incentive plan documents and Exhibit C: registration rights agreement. The Court subsequently issued an order confirming the Plan. As previously…