BankruptcyData’s detailed analysis and summary of Nortel Network’s First Amended Joint Chapter 11 Plan of Reorganization, dated January 23, 2017, is now available. The U.S. Bankruptcy Court confirmed the Plan on January 24, 2017; however, an effective date has not yet been issued. BankruptcyData notes, “The Liquidation Analysis for Reorganized Nortel Networks estimates that the…

The U.S. Bankruptcy Court issued an order approving (1) the sale of substantially all of Xtera Communications’ assets pursuant to the stalking horse agreement free and clear of liens, claims, encumbrances and other interests and (2) the asset purchase agreement (APA) between the Company and stalking horse bidder H.I.G. Europe – Neptune. The order states,…

United States/USAO filed with the U.S. Bankruptcy Court an objection to Modular Space Holdings’ Joint Prepackaged Plan of Reorganization and related Disclosure Statement. The objection asserts, “The United States objects to the Disclosure Statement because it does not contain information adequate to allow creditors to make informed decisions about the Plan. In fact, both the…

Peabody Energy filed with the U.S. Bankruptcy Court Second Amended Joint Plan of Reorganization and related Disclosure Statement. According to the Disclosure Statement, “The $75 million that the Debtors and Reorganized Debtors are obligated to fund for the Class 5B Cash Pool shall be Allowed Administrative Expense Claims, which shall be (a) reduced to $37.5…

Privately-held United Kingdom-based Toisa and 23 affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 17-10184. The Company, which operates a diversified shipping business and owns a fleet of offshore oil support vessels, is represented by Albert Togut of Togut, Segal &…