Erickson Incorporated filed with the U.S. Bankruptcy Court a Chapter 11 Joint Plan of Reorganization and related Disclosure Statement. According to the Disclosure Statement, “The Plan provides for the resolution of Claims against and Interests in the Debtors and implements a distribution scheme pursuant to the Bankruptcy Code. Distributions under the Plan shall be made…

Hampshire Group filed with the U.S. Bankruptcy Court a motion for the sale of property free and clear of liens and for entry of orders (i) (a) approving bid procedures for the Debtors’ James Campbell assets; (b) approving notice procedures for the solicitation of bids, an auction and the assumption and assignment of any executory…

Ultra Petroleum’s ad hoc committee of unsecured creditors filed with the U.S. Bankruptcy Court a motion for an order (i) appointing a Chapter 11 trustee or (ii) in the alternative, appointing independent directors to the Company’s board. The motion explains, “The Debtors have chosen this path despite their belief that they are solvent. In sum,…

Basic Energy Services’ First Amended 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 December 9, 2016. Roe Patterson, chief executive officer comments, “Today marks the completion of a restructuring and recapitalization that allows the Company to move forward…

SunEdison filed with the U.S. Bankruptcy Court a motion for an order approving a settlement by and between the Debtors and Albemarle Corporation. The motion notes, “The Utilities Claim shall be an allowed general unsecured claim of $1,273,841.18, representing the $2,473,841.18 in past due invoices reduced by the $1,200,000.00 security deposit (the ‘Security Deposit’) currently…

The U.S. Bankruptcy Court issued a final order approving Xtera Communications’ D.I.P. financing motion. As previously reported, “The D.I.P. facility consists of super-priority post-petition financing is made up of a term loan in the principal amount of up to $7,409,793. H.I.G. European Capital Partners is the D.I.P. lender, and Wilmington Trust is the administrative and…

The U.S. Bankruptcy Court approved Magnetation’s motion for an order (i) authorizing entry into and performance under an asset purchase agreement (APA) by and among the Debtors, MG Initial Purchaser (“Initial Buyer”) and ERP Iron Ore; (ii) approving the sale and transfer of the Debtors’ assets and liabilities in accordance with the APA and (iii)…

Republic Airways Holdings filed with the U.S. Bankruptcy Court a second motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including March 31, 2017 and June 1, 2017, respectively. The motion explains, “Republic submits that the requested extensions of the Exclusive Periods…

The U.S. Bankruptcy Court approved, on a final basis, Multimedia Platforms’ emergency motion for authority to obtain post-petition financing. As previously reported, “Following hearings conducted by the Court on October 14, 2016, the Court denied the Debtors’ request for authority to use cash collateral. The Debtors believe it is absolutely critical that they recommence operations…

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