The U.S. Bankruptcy Court approved Vanguard Natural Resources’ Disclosure Statement and scheduled a July 18, 2017 hearing to consider its Amended Chapter 11 Plan of Reorganization. According to the Disclosure Statement, “On the Effective Date, the applicable Consenting Senior Noteholders will consummate the Term Loan Purchase by purchasing, in the aggregate, $31.25 million in principal…

Ontario, Canada-based U.S. Steel Canada (f/k/a Stelco) filed for Chapter 15 protection with the U.S. Bankruptcy Court in the Southern District of New York, case number 17-11519. The Company, which manufactures steel products, is represented by Robert J. Lemons of Weil Gotshal & Manges. United States Steel Corporation is the ultimate indirect owner of 100%…

Adeptus Health’s official committee of unsecured creditors and Dignity Health filed with the U.S. Bankruptcy Court separate objections to the Company’s financing motion. The committee asserts, “Despite equally hard-fought negotiations, the Committee has not been able to change Deerfield’s desire to control the direction of these cases and restrict the exercise of the Debtors’ and…

Rooster Energy Ltd. and six affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Western District of Louisiana, lead case number 17-50705 (Rooster Energy, L.L.C.). The Company, which explores for, develops, and produces oil and gas properties, is represented by Jan M. Hayden of Baker, Donelson, Bearman, Caldwell & Berkowitz….

Aeropostale filed with the U.S. Bankruptcy Court a motion to change its corporate names and for related relief. The motion explains, “On September 13, 2016, the Court entered two orders approving the transactions contemplated by the Asset Purchase Agreement by and among the Debtors and Aero Opco (the ‘Buyer’) and the Agency Agreement by and…

Peaje Investments (Plaintiff) filed with the U.S. Bankruptcy Court a verified complaint against defendants Puerto Rico Highways & Transportation Authority (HTA) and its executive director, currently the Hon. Carlos Contreras Aponte; the Commonwealth of Puerto Rico and its Governor, currently the Hon. Ricardo Rossello; the Puerto Rico Fiscal Agency and Financial Advisory Authority (AAFAF) and…

Caesars Entertainment Operating Company filed with the U.S. Bankruptcy Court a motion to approve a compromise or settlement between Debtor Caesars Palace Realty (CPRC) and Clark County. The motion notes, “Clark County informed the Debtors that Clark County is seeking to refinance the Bonds that underlie the SID. Such refinancing will reduce the tax assessments…

MIG filed with the U.S. Bankruptcy Court a motion for entry of an order (a) authorizing the sale of certain of the Debtors’ assets free and clear of liens, claims, encumbrances and other interests; (b) authorizing and approving the related asset purchase agreement and related mutual release agreement; (c) declaring the Plan effective (as it…

On May 30, 2017, Moody’s Investors Service downgraded the ratings of The Manitowoc Company, Inc., including the corporate family rating to Caa1 from B3, probability of default rating to Caa1-PD from B3-PD and the second lien notes initially issued at MTW Cranes Escrow Corp to Caa1 from B2. According to Moody’s, the downgrade of Manitowoc’s…

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