Implant Sciences filed with the U.S. Bankruptcy Court a Joint Chapter 11 Plan of Reorganization and related Disclosure Statement. According to the Disclosure Statement, “The Plan provides for the substantive consolidation of the Debtors and for: (i) the un-impairment and/or payment, in full, of all Allowed priority, administrative, secured, general unsecured claims, and Preferred Interests;…

Nortel Networks’ First Amended Joint Chapter 11 Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed Nortel Networks’ Plan on January 24, 2017. Nortel Canada’s Companies’ Creditors Arrangement Act Plan also became effective following Ontario Superior Court of Justice approval on the same date. BankruptcyData’s detailed…

BankruptcyData’s detailed analysis and summary of Goodman Networks’ Amended Joint Prepackaged Chapter 11 Plan of Reorganization, dated May 2, 2017, is now available. The U.S. Bankruptcy Court confirmed the Plan on May 4, 2017; however, an effective date has not yet been issued. BankruptcyData notes, “The Plan provides for a comprehensive restructuring of the Company’s…

Hancock Fabrics filed with the U.S. Bankruptcy Court a Second Amended Joint Chapter 11 Plan of Liquidation and related Disclosure statement. According to the Disclosure Statement, “The Plan provides that, among other things, the Debtors’ current Board of Directors will be succeeded by the Responsible Person, who will be appointed by order of the Bankruptcy…

Multiple parties–including Malayan Banking Berhad (Maybank), Hong Kong Branch; CooperatieveRabobank, DBS Bank (Hong Kong), Standard Chartered Bank (Hong Kong), the club lender parties; Bank of America and the senior noteholder committee–filed with the U.S. Bankruptcy Court separate objections to China Fishery Group’s motion for an exclusivity extension. Maybank asserts, “The Debtors’ creditors continue to have…

The U.S. Bankruptcy Court approved Hampshire Group’s motion to extend by 60 days the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including, May 22, 2017 and July 21, 2017, respectively. As previously reported, “The Debtors have acted to expeditiously liquidate their remaining assets, including…

On May 3, 2017, S&P Global Ratings lowered its corporate credit rating on Permian Resources LLC to SD from CCC and its second-lien secured and unsecured debt ratings to D from CC. “The downgrade follows Permian Resources’ announcement that it has agreed to exchange approximately $325 million of principal amount of the company’s second-lien secured…

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