The U.S. Bankruptcy Court approved Forbes Energy Services’ motion for an order authorizing the assumption of asset purchase agreements and approving the private sale of certain assets free and clear of liens, claims and interests thereunder. As previously reported, “By this Motion, the Debtors seek authorization to assume and perform under certain prepetition agreements for…

Multiple parties – including Westchester Fire Insurance Company, Patriot Shipping and the Internal Revenue Service – filed with the U.S. Bankruptcy Court separate objections to International Shipholding’s First Amended Joint Chapter 11 Plan of Reorganization. The Internal Revenue Service asserts, “Section 2.1.2 of the Plan improperly requires the IRS to file requests for payment of…

Multiple parties – including the Louisiana Department of Revenue (LDR), BMO Harris Equipment Finance Company and Capital One – filed with the U.S. Bankruptcy Court separate objections to International Shipholding’s Amended Plan. The LDR asserts, “The LDR objects to the treatment of Administrative Claims because it requires a request for payment before an Administrative Claim…

The U.S. Bankruptcy Court approved, on an interim basis, PFO Global’s motion (i) for interim and final orders (a) authorizing and approving secured post-petition financing, (b) granting security interests, super priority claims and adequate protection and (c) authorizing the Debtors’ use of cash collateral and (ii) scheduling a final hearing. As previously reported, “Debtors respectfully…

Multiple parties – including J-W Power Company, the Internal Revenue Service (IRS), Cabot Oil & Gas and USA Compression Partners – filed with the U.S. Bankruptcy Court separate objections to Samson Resources’ Global Settlement Joint Chapter 11 Plan of Reorganization. The IRS asserts, “The plan should not be confirmed because it provides very extensive and…

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