The U.S. Bankruptcy Court issued an order approving Optima Specialty Steel’s Disclosure Statement and scheduled a June 29, 2017 hearing to consider the First Amended Joint Chapter 11 Plan, with objections due by June 22, 2017. As previously reported, “Specifically, Optima Acquisitions LLC, a Delaware limited liability company (‘OA’ or the ‘Plan Sponsor’), which is…

Ontario, Canada-based Mood Media and multiple affiliated Debtors filed for Chapter 15 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 17-11413. The Company, which provides retail-based music entertainment services, is represented by Joshua A. Sussberg of Kirkland & Ellis. The Company also filed an Arrangement Agreement in…

hhgregg filed with the U.S. Bankruptcy Court a motion for authority approving a key employee retention program ((KERP) for certain non-insiders. The motion explains, “The KERP is structured to ensure the retention of 38 of the Debtors’ non-insider employees (the ‘KERP Participants’) whose efforts will be critical to completing the Debtors’ wind-down both during and…

The U.S. Bankruptcy Court granted final approval to US Dataworks’ D.I.P. financing motion. As previously reported, “The Debtor has obtained a commitment for a fully underwritten $150,000 debtor-in-possession financing facility (the ‘DIP Facility’) from TBB, who is to serve as the DIP Lender and which also, intends to purchase the Debtor’s assets….The DIP Facility commitment…

Oakridge Holdings and one affiliated Debtor filed for Chapter 11 protection with the U.S. bankruptcy Court in the District of Minnesota, lead case number 17-31669. The Company, which designs, engineers and manufactures aviation ground support equipment, is represented by Kenneth C. Edstrom of Sapientia Law Group. The U.S. Trustee assigned to the case scheduled a…