The Louisiana Department of Revenue and the State of Louisiana’s Department of Natural Resources filed with the U.S. Bankruptcy Court separate objections to Saratoga Resources’ Joint Chapter 11 Plan of Reorganization. The Department of Natural Resources asserts, “Because Harvest Oil and Gas et al has illegally retained funds belonging to the State, the State hereby…

The U.S. Bankruptcy Court issued an order approving SandRidge 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 13, 2017 and March 14, 2017, respectively. As previously reported, “The hearing to confirm the plan of reorganization that embodies this…

The U.S. Trustee assigned to the Paragon Offshore case filed with the U.S. Bankruptcy Court an objection to the Debtors’ motion for authority to (i) assume plan support agreement and (ii) modify the automatic stay. The objection explains, “Through the Motion, Debtors seek authorization to pay the professional fees of certain unsecured creditors supported only…

MediaShift filed with the U.S. Bankruptcy Court a motion for an order (1) authorizing and directing the distribution of funds of the estates to creditors and (2) dismissing the Debtors’ Chapter 11 bankruptcy cases. The motion explains, “The Debtors submit that ’cause’ exists for the relief requested in the Motion because, (a) the Court-approved sale…

Multiple parties – including the IRS/USAO; Morascyzk & Polochak and Co-Exprise; the SEC; Cypress Fairbanks ISD, Harris County, Jasper County, Montgomery County, Pecos County, Washington Co FM; Seismic Exchange; Geophysical Pursuit and Helmerich & Payne Drilling – filed with the U.S. Bankruptcy Court separate objections to Halcon Resources’ Prepackaged Chapter 11 Plan and related Disclosure…

According to documents filed with the SEC, AK Steel entered into a global settlement agreement with Magnetation and its affiliates and JPMorgan Chase Bank, Associated Bank and BMO Harris Bank (as lenders under revolving credit facility) to terminate the iron ore pellet off-take agreement between Magnetation and AK Steel and to wind down Magnetation’s business….

The U.S. Bankruptcy Court approved Hancock Fabrics’ motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including December 2, 2016 and February 3, 2017, respectively. As previously reported, “The Debtors have worked toward winding down their business and affairs by (i) selling…

Wave Systems’ Amended Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection. The Court confirmed the Plan on August 25, 2016. According to documents filed with the Court, “Generally, the Plan provides for the reorganization of the Debtor by retiring, cancelling, extinguishing and/or discharging the Debtor’s existing Equity Interests and issuing…