Avaya filed with the U.S. Bankruptcy Court a motion seeking entry of a third order extending the Debtors’ exclusive periods to file a Chapter 11 Plan and solicit acceptances thereof through and including November 30, 2017 and January 31, 2018, respectively. The motion explains, “Since their last exclusivity extension was granted on July 26, 2017,…

Perfumania Holdings filed with the U.S. Bankruptcy Court a Revised Prepackaged Joint Chapter 11 Plan of Reorganization and related Disclosure Statement. According to the Disclosure Statement, “The Plan provides for the following key economic terms and mechanics: All creditors of the Debtors will be unimpaired and have their claims either reinstated or paid in full…

Gymboree filed with the U.S. Bankruptcy Court an Amended Joint Chapter 11 Plan of Reorganization, which notes the following: “Class 5 consists of all General Unsecured Claims. Except as otherwise provided in the Plan in full and final satisfaction of each Allowed Class 5 Claim, each Holder thereof shall receive its Pro Rata share of…

The U.S. Bankruptcy Court issued an order approving TerraVia Holdings’ key executive incentive plan (KEIP). As previously reported, “The Debtors assert that the modest bonus payments set forth in the KEIP are reasonable and appropriate….The KEIP will provide performance incentives for the Key Executives. As members of the Debtors’ executive management team, the Key Executives…

Carl Marks Advisors announced the promotion of Brian Williams to Partner. With a primary focus in the energy industry, Williams has 20 years of strategic advisory, operating and investment banking experience, including executive management, mergers and acquisitions, private capital raises, restructuring and principal investing. Prior to joining Carl Marks Advisors, Williams served as C.F.O., Co-Founder…

Quadrant 4 Systems filed with the U.S. Bankruptcy Court a motion for entry of an order authorizing the Debtor to pay retention bonuses to four key non-insider employees and granting shortened notice in connection therewith. The motion explains, “By this Motion, the Debtor requests the entry of an order authorizing it to pay Retention Bonuses…

The U.S. Bankruptcy Court approved CGG Holding’s Disclosure Statement and scheduled an October 10, 2017 hearing to consider the Revised Joint Chapter 11 Plan of Reorganization. According to the Disclosure Statement, “The Plan is part of a comprehensive reorganization of the Company in France and the United States through plans approved (i) in the Safeguard…

Energy Future Holdings (EFH) filed with the U.S. Bankruptcy Court a motion for an order authorizing the EFH/Energy Future Intermediate Holdings (EFIH) Debtors to consent to Oncor’s entry into the Sharyland merger agreement. The motion notes, “On July 21, 2017, Oncor and Sharyland signed an agreement that provides for an exchange by Sharyland and its…

The U.S. Bankruptcy Court issued an interim order approving Perfumania Holdings’ post-petition financing motion. As previously reported, “The agent and D.I.P. lender is Wells Fargo. The Ratification Agreement provides for (i) a senior secured debtor-in-possession asset based revolving facility in an aggregate principal amount of $83,750,000 (the ‘DIP Facility’) to refinance the Debtors’ prepetition revolving…