George Putnam’s The Turnaround Letter released its top five stock recommendations for 2017, which includes post-bankruptcy telecom services provider NII Holdings (NASDAQ: NIHD). The Company has filed for Chapter 11 protection with the U.S. Bankruptcy Court on two separate occasions, most recently emerging in June 2015. It is important to recognize the difference between the…

The U.S. Bankruptcy Court approved SunEdison’s motion for an order authorizing the private sale of the Company’s Commercial & Industrial (C&I) business to purchaser MyPower Corp. As previously reported, “The Purchase Agreement contemplates the sale of the Purchased Assets, which comprise substantially all of the remaining assets of the Company’s C&I Business, to the Buyer…

According to documents filed with the SEC, Bonanza Creek Energy has reached an agreement in principle with Silo Energy to settle certain claims. Under the settlement, Silo Energy’s unsecured claim will be allowed in the amount of $75 million and Silo Energy will receive a distribution of new common stock, unless the Company elects to…

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 April 3, 2017 and June 2, 2017, respectively. As previously reported, “The Debtors have no ulterior motive in seeking an additional extension of the Exclusive…

Multiple parties – including Texas Comptroller of Public Accounts, Louisiana Department of Revenue, Broadmont Associates, Bexar County, Cypress Fairbanks Independent School District (ISD), Dallas County, Fort Bend County, Harris County, Irving ISD, Nueces County and Victoria County – filed with the U.S. Bankruptcy Court separate objections to Modular Space Holdings’ Joint Prepackaged Plan of Reorganization….

The U.S. Bankruptcy Court approved Dakota Plains Holdings’ assumption of a plan support agreement (PSA). As previously reported, “The PSA is the product of extensive, arm’s-length, good faith negotiations between the Debtors and World Fuel Services WFS. The following is a summary of the key terms of the PSA: The Debtors agree and stipulate that…

The U.S. Bankruptcy Court approved Illinois Power Generating Company’s (Genco) Disclosure Statement and concurrently confirmed its Prepackaged Chapter 11 Plan of Reorganization. According to documents filed with the Court, “Dynegy will serve as co-sponsor and co-proponent of the Plan and is participating in the Plan with Genco, but, for the avoidance of any doubt, only…