Ezra Holdings filed with the U.S. Bankruptcy Court a motion for entry of an order authorizing implementation of an employee incentive plan and payment of obligations arising thereunder as administrative expenses. The motion explains, “EMITS is the global information technology (‘IT’) organization and IT shared service provider serving Ezra Holdings Limited (‘Ezra’) and its related…

SunEdison filed with the U.S. Bankruptcy Court a second motion for entry of an order subordinating and reclassifying claims based on the purchase or sale of securities of the Debtors or their affiliates. The motion explains, “Consistent with section 510(b) of the Bankruptcy Code and the express terms of the Debtors’ confirmed Plan…the 510(b) Claims…

Appvion’s official committee of unsecured creditors filed with the U.S. Bankruptcy Court an objection to the Company’s D.I.P. financing motion. The committee asserts, “After the payment of the interest and fees required by the DIP Facility and the above repayments, the Debtors will have access to only $28.7 million of new money under DIP Facility…

The U.S. Bankruptcy Court issued an order approving the Disclosure Statement and concurrently confirming General Wireless Operations’ (GWOI) Modified First Amended Joint Plan of Reorganization. According to documents filed with the Court, “Under the Plan, Debtor GWOI will emerge as a Reorganized Debtor, and will be vested with substantially all of the remaining property of…

On October 20, 2017, Walter Investment Management Corp. announced that it has entered into a Restructuring Support Agreement with certain holders of more than 50% by principal amount of the Company’s 7.875% Senior Notes due 2021 that contemplates a financial restructuring which, if consummated, is expected to strengthen the Company’s balance sheet. The Company plans…

In Form 10-Q filed on October 26, 2017, for the quarterly period ended September 30, 2017, FirstEnergy Solutions Corp. (FES) notes, “…lack of clarity regarding the timing and viability of alternative strategies, including additional asset sales or deactivations and/or converting generation from competitive operations to a regulated or regulated-like construct in a way that provides…

Cecil Bancorp’s Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed the Plan on October 11, 2017. BankruptcyData’s Plan Summary notes, “As part of the Plan confirmation process, the Debtor will conduct an auction of its stock in the Bank in accordance with proposed bidding procedures…

SunEdison filed with the U.S. Bankruptcy Court a notice of extension of the rights offering expiration date until November 7, 2017. The notice explains, “Pursuant to Section B.1 of the Amended Rights Offering Procedures, the Debtors may extend the Rights Offering Expiration Date by notice provided to Eligible Holders no later than 4:00 p.m. (prevailing…

Appvion filed with the U.S. Bankruptcy Court a motion to approve the Debtors’ key employee retention plan (KERP). The motion explains, “The Company shall pay to each KERP Participant an amount (the ‘KERP Amount’) ranging from 12% to 25% of the KERP Participant’s 2017 base salary, depending on the KERP Participant’s tier level. Tier I…

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