The Commonwealth of Puerto Rico’s ad hoc group of general obligation bondholders, Ambac Assurance, Assured Guaranty, Assured Guaranty Municipal, Mutual Fund Group, National Public Finance Guarantee and Puerto Rico Funds (collectively, “Responding Creditors”) filed a statement in response to the Commonwealth’s status report regarding (a) financial disclosures to creditors and (b) status of settlement discussions….

Novation Companies filed with the U.S. Bankruptcy Court a third motion to extend by 90 days the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including September 30, 2017 and November 30, 2017, respectively. The motion explains, “The Debtors have been operating under the protections…

The U.S. Bankruptcy Court approved Gulfmark Offshore’s Disclosure Statement and scheduled an August 1, 2017 hearing to consider its Amended Chapter 11 Plan of Reorganization. According to documents filed with the Court, “The Debtor is commencing this solicitation after extensive prepetition discussions with certain key creditor constituencies. As a result of these negotiations, on May…

Missouri Department of Labor & Industrial Relations, Division of Workers’ Compensation filed with the U.S. Bankruptcy Court an emergency motion to compel Katy Industries’ affiliated Debtor Continental Commercial Products to comply with the laws of the State of Missouri related to workers’ compensation, or, in the alternative, for an order dismissing this case. The motion…

The U.S. Bankruptcy Court issued an order approving Energy Future Holdings (EFH) and Energy Future Intermediate Holding Company (EFIH) Finance’s motion for entry of an order approving replacement post-petition financing for EFIH and EFIH Finance, granting liens and providing super-priority administrative expense claims, extending the use of cash collateral by EFIH and EFIH Finance, authorizing…

The U.S. Bankruptcy Court issued an order (i) approving Implant Sciences Disclosure Statement; (ii) approving solicitation and voting procedures, including fixing the record date, approving the solicitation packages and procedures for distribution, approving the form of ballots and establishing procedures for voting, and approving procedures for vote tabulation; and (iii) scheduling a confirmation hearing and…

WestMountain Gold filed with the U.S. Bankruptcy Court a Chapter 11 Plan of Reorganization and related Disclosure Statement. According to the Disclosure Statement, “The Plan will be primarily funded from the New Capital investment in the Debtor based on debtor in possession financing provided during the case and new equity invested at the time the…