The U.S. Bankruptcy Court approved Core Resource Management’s official committee of unsecured creditors’ renewed and expedited motion to appoint a Chapter 11 trustee. As previously reported, “Committee files this Motion requesting the immediate appointment of a Chapter 11 Trustee based on the current financial condition of the Debtor, current management and counsel’s participation in and/or…

The U.S. Bankruptcy Court issued an order approving Triangle USA Petroleum’s motion to make severance payments to certain departing employees. As previously reported, “After a thoughtful and careful review of their post-emergence business plan and cost-structure requirements, the Debtors have decided to eliminate two management positions: Interim Chief Financial Officer (‘Interim CFO’) and Vice President…

Samson Resources announced that its second-lien creditor group has selected Joseph A. Mills as the Company’s president and C.E.O., effective as of the date the Company’s Global Settlement Joint Plan of Reorganization becomes effective. Mills has nearly 35 years of experience in the oil and gas industry, including public company management experience. Most recently, he…

Compania Espanola de Financiacion de Desarrollo, Cofides and First NBC Bank filed with the U.S. Bankruptcy Court separate objections to Abengoa Bioenergy US Holdings’ First Disclosure Statement. First NBC Bank asserts, “Debtors’ Amended Disclosure Statement cannot be approved because it does not contain the baseline level of disclosures mandated by Section 1125 of the Bankruptcy…

Caesars Entertainment (CEC) and Caesars Entertainment Operating Company (CEOC) jointly announced that CEOC has entered into committed financing agreements for proposed new senior secured credit facilities, comprising up to $1,235 million in the aggregate principal amount of a seven-year senior secured term loan facility and up to $200 million in the aggregate principal amount of…

The U.S. Bankruptcy Court approved Paragon Offshore’s fourth motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including March 31, 2017 and May 30, 2017, respectively. As previously reported, “The Term Sheet contemplates that the Debtors will obtain Court approval of the…

Roust’s Amended and Restated Joint Chapter 11 Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed the Plan on January 10, 2017. BankruptcyData’s Plan Summary notes, “The Joint Prepackaged Plan of Reorganization and the Restructuring Support Agreement will strengthen Roust Corporation’s capitalization by over $500 million…

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