Implant Sciences filed with the U.S. Bankruptcy Court a monthly operating report for March 2017. For the month, the Debtors reported an $1.9 million net loss on zero net revenue and $384,436 in total reorganization expenses, $353,461 in professional fees and $19,184 in administrative expenses. Cash at the beginning of March 2017 was $74.6 million…

Azure Midstream Partners’ interested party Wampanoag Capital filed with the U.S. Bankruptcy an objection to Debtor’s disclosure statement related to the Plan of Liquidation. The objection asserts, “On March 15, 2017, this Court approved a sale of substantially all of the Debtors’ assets to BTA Gathering LLC for a purchase price of $189 million. Net…

Ciber filed with the U.S. Bankruptcy Court a motion for entry of an order approving the Debtors’ key employee incentive plan (KEIP) and key employee retention plan (KERP). The KEIP, KERP motion explains, “Under the proposed KEIP, the KEIP Participants would be eligible to receive an incentive payment (the ‘KEIP Payment’) corresponding to the incremental…

Mentor Graphics filed with the U.S. Bankruptcy Court an objection to Avaya’s motion seeking entry of an order approving bidding procedures in connection with the sale of the Debtors’ Networking business, scheduling an auction and a sale hearing, extending the deadline to assume or reject the Billerica lease and approving the sale of assets free…

Vanguard Natural Resources filed with the U.S. Bankruptcy Court a motion to extend the exclusivity period for filing a Chapter 11 plan and disclosure statement and to solicit acceptances thereof, through and including August 15, 2017 and October 16, 2017, respectively. Vanguard’s filing period and solicitation period will expire on June 1, 2017 and July…

Bonanza Creek Energy filed with the U.S. Bankruptcy Court a notice of identities of members of the new board. The notice states, “on April 7, 2017, the Bankruptcy Court entered the Order Approving (a) the Debtors’ Disclosure Statement…in accordance with Section 10.3(b) of the Plan….The New Board members shall serve from and after the Effective…

The U.S. Trustee assigned to Novation Companies’ case filed with the U.S. Bankruptcy Court an objection to the confirmation of First Amended Joint Chapter 11 Plan of Reorganization of Novation Companies and Novastar Mortgage. The trustee asserts, “Preliminarily, it should be noted that this Opt-Out clause is misleading and inaccurate when it indicates that ‘all…

The U.S. Bankruptcy Court approved Cosi’s First Amended Chapter 11 Plan. According to the documents filed with the Court, “The Plan provides for the reorganization of the Debtors and for their continued existence as the Reorganized Debtors with 100% of the stock of the Reorganized Debtors being owned by the Debtor’ prepetition Noteholders and the…