On September 21, 2017, S&P Global Ratings lowered its corporate credit rating on Charlotte Russe, Inc. to CCC- from CCC+ and its first-lien debt rating to CCC- from CCC+. According to S&P Global, the downgrade reflects S&P’s view that the probability of financial restructuring, including at least some of the Company’s debt obligations, at less…

Multiple parties including – Posner Park Retail; Ramco-Gershenson Properties Trust and Phillips Edison & Company; IREIT Louisville Dixie Valley, IREIT West Valley City Lake Park and Duluth (Gwinnett) SSR – filed with the U.S. Bankruptcy Court separate objections to the proposed cure amount provided in the Plan’s assumption schedules. The objection of landlords Ramco-Gershenson Properties…

The U.S. Trustee assigned to the Kid Brands case filed with the U.S, Bankruptcy Court a motion to convert the Company’s Chapter 11 reorganization to a liquidation under Chapter 7. The motion explains, “The Debtors have failed to comply with the United States Trustee Operating Guidelines and Reporting Requirements for Chapter 11 cases. A review…

Quadrant 4 Systems filed with the U.S. Bankruptcy Court a motion for an order authorizing the Debtor’s key employee incentive program (KEIP). The motion explains, “For a variety of reasons, including the limited availability of resources and the concentrated sale efforts focused on other Business Units, the Debtor was not simply not able to sell…

The U.S. Bankruptcy Court issued an order approving Caesars Entertainment Operating Company’s (CEOC) compromise or settlement, per Rule 9019, between CEOC and the State of Mississippi. As previously reported, “The ‘in lieu’ assessment payments claimed by Mississippi as administrative expense claims for years 2016, 2017, and 2018, in aggregate, amount to no less than $1,889,000….Subject…

Jefferies announced that it has opened an investment banking office in Amsterdam, the Netherlands. Located in the Amsterdam World Trade Centre, the new office will serve clients across the Benelux region. Kasper van Griensven, Jefferies Head of Benelux Investment Banking, will lead a team of seven professionals based in Amsterdam. Van Griensven has over 20…

Hampshire Group filed with the U.S. Bankruptcy Court a fifth motion for an order extending the exclusive periods during which the Debtors may file a Chapter 11 plan and solicit acceptances thereof, through and including October 20, 2017 and December 20, 2017, respectively. The motion explains, “The Solicitation Motion originally sought a confirmation hearing date…

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