Paragon Offshore filed with the U.S. Bankruptcy Court a motion for authorization to sell its L782 Rig and L783 Rig free and clear of all liens, claims, encumbrances and other interests to Dixstone Holdings. The motion explains, “The Debtors estimate that the Sale will save the Debtors’ estates approximately $4 million in the aggregate in…

The U.S. Bankruptcy Court approved hhgregg’s motion for an order (i) authorizing the Debtors to enter into the consulting agreement and (ii) authorizing and approving the conduct of Phase II store closing sales, with such sales to be free and clear of all liens, claims and encumbrances. As previously reported, “Pursuant to this Court’s Bid…

The U.S. Bankruptcy Court approved Bonanza Creek Energy’s Disclosure Statement and concurrently confirmed its Third Amended Joint Prepackaged Plan of Reorganization. According to a corporate release, the Company anticipates Plan effectiveness before May 2017. Richard Carty, Bonanza Creek’s president and C.E.O., comments, “We will emerge as a strong and deleveraged company with a competitive business…

Gordmans Stores filed with the U.S. Bankruptcy Court an agency agreement, which states, “This Agency Agreement is made as of March 31, 2017, by and between Gordmans Stores and each of its subsidiaries (collectively, the ‘Merchant’), a joint venture comprising Tiger Capital Group and Great American Group WF, collectively, ‘JV Agent’ and Specialty Retailers, the…

The U.S. Bankruptcy Court issued a final order approving P10 Industries’ expedited motion for an order authorizing the assumption of restructuring support agreements with 210/P10 Investment and Langley Holdings. As previously reported, “In connection with the bankruptcy, the Company entered into a restructuring support agreement (the ‘210 RSA’) with 210/P10 Investment (‘210 Capital’) as well…

Novation Companies filed with the U.S. Bankruptcy Court a motion for approval of a settlement and compromise of controversy with the New Jersey Carpenters Health Fund. The compromise motion explains, “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…

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