Ciber filed with the U.S. Bankruptcy Court a notice of filing of debtor-in-possession credit agreement. The credit agreement amendment notes, “Subject to the terms and conditions of this Agreement and Financing Order, and during the term of this Agreement, each Revolving Lender agrees to make revolving loans to Borrowers in an amount at any one…

The U.S. Bankruptcy Court issued an order approving China Fishery Group’s Debtor affiliate CFG Peru Investments (Singapore)’s Chapter 11 trustee’s motion for order authorizing and approving procedures for (a) the sale or transfer of certain non-debtor assets and (b) taking all desirable or necessary corporate governance actions in connection therewith. As previously reported, “The Chapter…

ACE American Insurance Company, Illinois Union Insurance Company, ACE Property and Casualty Insurance Company, Indemnity Insurance Company of North America, and Federal Insurance Company, together with each of their affiliates, the ‘Chubb Companies,’ filed with the U.S. Bankruptcy Court an objection to Hancock Fabrics’ First Amended Joint Chapter 11 Plan of Liquidation. The objection asserts,…

The U.S. Trustee assigned to Novation Companies’ case filed with the U.S. Bankruptcy Court an objection to confirmation of the First Amended Joint Chapter 11 Plan of Reorganization of Novation Companies and Novastar Mortgage. The trustee asserts, “Debtors Novation Companies and Novstar Mortgage seek broad immunity from liability for an assortment of non-debtors, such as…

The U.S. Bankruptcy Court issued an order, on an interim basis, approving Adeptus Health’s motion for interim and final orders authorizing Debtors to obtain post-petition financing; granting liens, security interests and superpriority status; authorizing use of cash collateral; affording adequate protection; scheduling a final hearing; and modifying automatic stay. As previously reported, “The post-petition financing…

The U.S. Trustee filed with the U.S. Bankruptcy Court an expedited motion to convert BioNitrogen Holdings’ cases to Chapter 7 and an objection to the motion to dismiss. The motion explains, “After nearly 18 months as in chapter 11, the Debtors have been unsuccessful in securing the necessary financing or strategic partner necessary to proceed…

Violin Memory’s Second Amended Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed the Violin Memory’s Plan on April 18, 2017. According to the documents filed with the Court, “The Distribution Trust shall be jointly administered by two Distribution Trustees with equal rights, duties and obligations…

On April 18, 2017, S&P Global Ratings lowered its corporate credit rating on Mood Media Corporation to CC from CCC+ and its 9.25% senior unsecured notes to C from CCC-. “The downgrade follows Mood’s announcement that it has offered to exchange its 9.25% senior unsecured notes due 2020 for new 14% cash and paid-in-kind (PIK)…