The U.S. Bankruptcy Court approved Energy Future Holdings’ compromise and entry into and performance under a stipulation between Energy Future Holdings (EFH) and Citigroup Financial Products (Citi). As previously reported, “By this motion, the Debtors seek entry of the order authorizing EFH to enter into and perform under the Stipulation. The Court’s approval of the…

The U.S. Trustee assigned to the Dakota Plains Holdings case filed with the U.S. Bankruptcy Court an objection to the Company’s Disclosure Statement. The Trustee asserts, “The information to be included in the Plan Supplement is necessary for creditors to intelligently vote on the plan. Providing that information, a mere ten days before confirmation deprives…

The U.S. Bankruptcy Court approved Hancock Fabrics’ motion to extend the exclusive period during which the Company can solicit acceptances for its Chapter 11 Plan through and including June 30, 2017. As previously reported, “The Debtors are mindful of this Court’s guidance to all parties in interest that the Plan process proceed without delay. Consistent…

PFO Global’s official committee of unsecured creditors filed with the U.S. Bankruptcy Court an objection to the Company’s motion to convert from a Chapter 11 reorganization to a Chapter 7 liquidation. The committee asserts, “The Committee objects to both the Motion to Convert and its expedited hearing. As the evidence would show, one of the…

Deutsche Bank National Trust Company and Bank of New York Mellon Trust Company filed with the U.S. Bankruptcy Court separate objections to Novation Companies’ Second Amended Joint Chapter 11 Plan of Reorganization. Deutsche Bank National Trust Company asserts, “Without providing any factual or legal justification, the Debtors’ Plan improperly and unfairly establishes a separate class…

The U.S. Bankruptcy Court approved Avaya’s amended motion for an order extending the Debtors’ exclusive periods to file a Chapter 11 plan and solicit acceptances thereof through and including July 18, 2017 and September 16, 2017, respectively. The Debtors originally requested an extension for September 16, 2017 and November 15, 2017, respectively. As previously reported,…

The U.S. Bankruptcy Court issued an interim order approving 21st Century Oncology’s post-petition financing motion and scheduled a June 19, 2017 hearing to consider final approval. As previously reported, “The postpetition senior secured superpriority D.I.P. financing in the form of credit facility (the ‘D.I.P. Facility’) is in an aggregate principal amount of up to $75,000,000…