According to the U.S. Bankruptcy Court docket, GT Advanced Technologies (GTAT) filed a motion for an order (a) modifying automatic stay, allowing setoff of pre-petition obligations and approving a related customer agreement and (b) authorizing certain Debtors to enter into an inter-company agreement related to the sale of ASF Furnaces. The motion explains, “This motion seeks…

According to the U.S. Bankruptcy Court docket, multiple parties – including McKinley Mall, Oracle America, Eatontown Monmouth Mall, Carousel Center Company, Crossgates Mall General Company NewCo, Crystal Run NewCo, Holyoke Mall Company, JPMG Manassas Mall Owner, Pyramid Walden Company, Washington Prime Group, Macomb Mall Partners and the Westfield and local Texas tax authorities – filed…

According to the U.S. Bankruptcy Court docket, the Court approved Allen Systems Group’s Disclosure Statement and concurrently confirmed its First Amended Joint Prepackaged Chapter 11 Plan of Reorganization (with technical modifications). According to documents filed with the Court, “The Plan provides for the following: “(a) the issuance of the New Common Stock; (b) the consummation of…

Lehman Brothers Holdings, as plan administrator, announced the percentage recovery that will be distributed on April 2, 2015 to holders of allowed claims against the Company and its various affiliated Debtors. Lehman’s Brothers Holdings’ aggregate seventh distribution to unsecured creditors pursuant to its U.S. Bankruptcy Court-confirmed and effective Modified Third Amended Joint Plan will total…

Pillsbury Winthrop Shaw Pittman LLP announced Cecily Dumas, a highly-regarded bankruptcy lawyer who also handles commercial transactions and litigation, is joining the firm’s Insolvency & Restructuring practice as a partner in the San Francisco, CA office. Dumas is well known in the Bay Area and beyond for her representation of high-profile clients and bankruptcy trustees,…

On March 23, 2015, Moody’s Investors Service downgraded the ratings of UCI International, Inc., including the corporate family and probability of default ratings to Caa1 and Caa1-PD, from B3 and B3-PD, respectively, as well as the Company’s senior unsecured note to Caa2 from Caa1. According to Moody’s, the downgrade of UCI’s corporate family rating to…

Deloitte Transactions and Business Analytics LLP named Timothy Skillman as a Director in the Deloitte Corporate Restructuring Group (Deloitte CRG) in the Los Angeles, CA office. Skillman has more 15 years of performance improvement and restructuring experience. In his new role, he will focus on financial restructuring and related advisory services for middle market manufacturing,…

According to the U.S. Bankruptcy Court docket, Donahue Group of Dendreon’s ad hoc equity shareholders filed a motion for the appointment of an official equity security holders’ committee and determination of prejudice for the previous non-appointment of an equity committee. The motion explains, “The added expense of an equity committee would not have adversely affected the…

According to the U.S. Bankruptcy Court docket, the Court approved Digital Domain Media Group’s twentieth amendment to the order (I) authorizing the Debtors to obtain post-petition financing and use cash collateral, (II) granting adequate protection, (III) scheduling a final hearing and (IV) granting certain related relief. According to documents filed with the Court, “Notwithstanding the occurrence…

According to the U.S. Bankruptcy Court docket, Salus Capital Partners filed an objection to RadioShack’s sale motion. The objection explains, “The Debtors’ sale and auction process, including the proposal to sell certain assets as a going concern to General Wireless, Inc., a new acquisition entity formed by Standard General, L.P. (‘Standard General’), is fundamentally flawed…

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