Avaya filed with the U.S. Bankruptcy Court a Joint Chapter 11 Plan of Reorganization and related Disclosure Statement. According to the Disclosure Statement, “If confirmed and consummated, the Plan will eliminate more than $4.0 billion in debt from the Debtors’ balance sheet and will provide the Debtors with the capital necessary to fund distributions to…

Forbes Energy Service’s Joint Prepackaged Chapter 11 Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed the Plan on March 29, 2017. BankruptcyData’s detailed Plan Summary notes, “Upon emergence from chapter 11, the Reorganized Debtors expect to have outstanding debt primarily consisting of obligations under a…

Unilife filed with the U.S. Bankruptcy Court a motion to approve (i) sale¬†bidding procedures in connection with the sale of substantially all of the Debtors’ assets, scheduling an auction and sale hearing; and (ii) approving the asset purchase agreement between the Debtors and the successful bidder, and authorizing the sale of substantially all of the…

Unilife filed with the U.S. Bankruptcy Court a motion for interim and final orders authorizing Debtors to obtain postpetition secured superpriority D.I.P. financing; authorizing cash collateral; granting adequate protection and scheduling a final hearing. The D.I.P. Lender is ROS Acquisition Offshore, providing a commitment for 100% of the D.I.P. Facility. The D.I.P. Facility is a…

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