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…

According to a corporate release Venoco announced that the U.S. Bankruptcy Court has indicated that it will enter an order confirming Venoco’s First Amended Joint Plan of Reorganization. The Company notes that this Plan will eliminate approximately $1 billion of debt from its balance sheet and better position it for long-term success. Venoco will retain…

The U.S. Bankruptcy Court issued an order denying the motion filed by Affirmative Insurance Holdings’ Court-affirmed rehabilitator seeking to dismiss the Chapter 11 proceeding. The order states, “Upon consideration of the Motion of Anne Melissa Dowling, Acting Director of Insurance of the State of Illinois, in her role as Statutory and Court-Affirmed Rehabilitator, for Entry…

The number of corporate bankruptcies remained steady in Q3 2015 marking the 4th straight quarter where the bankruptcy numbers remained flat and remarkably consistent. Though the number of bankruptcies 2015 YTD is down 16% compared to 2014, the seven-year downward spiral in the number of corporate bankruptcies has indeed leveled off. There were 22,680 corporate…

According to the U.S. Bankruptcy Court docket, theĀ U.S. Trustee assigned to the Alpha Natural Resources case filed a limited objection to the Debtors’ motion for an order (i) confirming authority to continue pre-petition retention programs for non-insider employees in the ordinary course of business, (ii) establishing a discretionary pool for the payment of future retention…

According to the U.S. Bankruptcy Court docket, Midway Gold filed a motion to further extend by three months the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including January 18, 2016 and March 21, 2016, respectively. The motion explains, “These Exclusivity Periods are an essential…

According to the U.S. Bankruptcy Court docket, CMG Oil & Gas filed an objection to American Eagle Energy’s motion for orders authorizing the sale of substantially all of Debtors’ assets free and clear of liens, claims, encumbrances and other interests. The objection asserts, “The Debtors cannot satisfy the requirements of 11 U.S.C. sections 363 (f)….