Privately-held Velocity Holding and 18 affiliated debtors–including Velocity Pooling Vehicle, Motorsport Aftermarket Group and 16 other affiliated Debtors–filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 17-12442. The Company, which distributes, designs, manufactures, retails and markets aftermarket parts, apparel and accessories for the powersports industry, is represented…

Ironclad Performance Wear filed with the U.S. Bankruptcy Court an emergency motion for an order authorizing Debtors to effectuate a name change. The motion explains, “Under the Asset Purchase Agreement between the Debtors and Brighton-Best International (‘BBI’), the Debtors ‘may not, directly or indirectly, use the name ‘Ironclad’, ‘Ironclad Performance Wear’ or any derivative thereof…

The U.S. Bankruptcy Court issued an order converting PFO Global’s Chapter 11 reorganization to a liquidation under Chapter 7. The order states, “As the Chapter 11 Trustee is no longer attempting to pursue confirmation of a plan based upon a merger and/or sale of the Debtor’s corporate shell and the Court having already determined that…

Gulfmark Offshore’s Amended Chapter 11 Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed the Plan on October 4, 2017. According to a corporate release, the Plan converts approximately $429.6 million of outstanding bonds into equity and raises approximately $125 million of new equity capital. Upon…

CGG Holding filed with the U.S. Bankruptcy Court a status report with respect to the reorganization of the Debtors and their non-Debtor affiliates (collectively, “CGG Group”) in France and the United States through the Safeguard Plan and the Plan, respectively. According to the Debtors, “As the Court may recall, implementation of the Financial Restructuring requires,…

United States Specialty Insurance Company (USSIC) filed with the U.S. Bankruptcy Court an objection to Rooster Energy’s Disclosure Statement for the Company’s Joint Chapter 11 Plan of Reorganization. The objection asserts, “USSIC objects to the Rooster Disclosure Statement due to the fact it fails to provide ‘adequate information’ as required by 11 U.S.C. section 1125….

Making Sense filed with the U.S. Bankruptcy Court an objection to COPSync’s motion for entry of orders approving the sale of assets free and clear. The objection asserts, “Making Sense objects to the sale because COPsync is attempting to sell software that it does not own. Making Sense is the true owner of the software….

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