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,…

Vanguard Natural Resources’ ad hoc equity committee filed with the U.S. Bankruptcy Court an objection to the Debtor’s disclosure statement and request for valuation hearing. The equity committee asserts, “Simultaneously with its formation, the Equity Committee retained Huron Consulting Services to conduct a formal valuation of the Debtors….Huron believes that the Debtors’ reorganization value is…

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)…

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