The U.S. Bankruptcy Court approved hhgregg’s motion to obtain post-petition financing, granting liens and super-priority claims to post-petition lenders, for an order authorizing the use of cash collateral and providing adequate protection to pre-petition secured parties and modifying automatic stay. As previously reported, “The DIP Facility consists of (i) a $50,000,000 senior secured superpriority revolving…

Paragon Offshore filed with the U.S. Bankruptcy Court a Fifth Joint Chapter 11 Plan and related Disclosure Statement. According to the Disclosure Statement, “As of the Effective Date, the Plan represents a full, final, integrated, complete, and good faith compromise, settlement, release, and resolution of, among other matters, disputes and potential litigation among the Debtors,…

The U.S. Bankruptcy Court issued an order approving Ciber’s (i) motion for the sale of property free and clear of liens, claims, encumbrances and interests and (ii) an order establishing bidding procedures relating to the sale of the Debtors’ assets, including approving a break-up fee and expense reimbursement. As previously reported, “The Stalking Horse Purchase…

BankruptcyData’s detailed analysis and summary of Republic Airways Holdings’ Second Amended Joint Plan of Reorganization, dated December 19, 2016, is now available.┬áThe U.S. Bankruptcy Court confirmed the Plan on April 27, 2017; and the Plan became effective on April 30, 2017. BankruptcyData notes, “The Plan contemplates for the Debtors to obtain modified agreements from its…

The U.S. Bankruptcy Court approved SunEdison’s motion (a) to obtain replacement post-petition financing pursuant to the U.S. Bankruptcy Code (b), to utilize cash collateral and (c) to repay existing post-petition financing. As previously reported, “To bridge the gap period between the Debtors’ projected timeline for confirmation of their proposed Plan and consummation of the Jointly…

Nuverra Environmental Solutions filed with the U.S. Bankruptcy Court a motion for interim and final orders authorizing the Debtors to obtain financing and utilize the cash collateral of pre-petition secured parties, modifying the automatic stay and scheduling a final hearing. The motion explains, “In an effort to continue operations and preserve estate value, the Debtors…

The U.S. Bankruptcy Court issued an order approving Novation Companies’ settlement and compromise of controversy with the New Jersey Carpenters Health Fund. As previously reported, “The key terms of the Settlement Agreement are as follows: The Settlement Class shall include all persons and entities who purchased or otherwise acquired publicly offered certificates representing interests in…

The SEC, UMB Bank and the State of Oregon filed with the U.S. Bankruptcy Court separate objections to SquareTwo Financial’s Joint Prepackaged Chapter 11 Plan of Reorganization. The SEC asserts, “Section 524(e) of the Bankruptcy Code provides that only the debts of the debtor are affected by Chapter 11 discharge provisions. Non-debtor third party releases…

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