Great American Capital Partners (GACP) announced that it led a $25 million senior secured first-in last-out (FILO) term loan to General Wireless Operations, doing business as RadioShack. The term loan is part of a $75 million financing package that includes a $50 million asset-based revolving credit facility led by RBC Capital Markets. The announcement notes,…

According to the U.S. Bankruptcy Court docket, Cal Dive International filed a notice of selection of stalking horse purchasers and a hearing to approve proposed bid protections with respect to stalking horse purchasers. The notice states, “Consistent with the Bid Procedures Order, the Debtors have selected the following parties to serve as stalking horse purchasers…

Cal Dive International filed with the U.S. Bankruptcy Court an emergency motion to authorize and to designate stalking horse purchasers under bid procedures and consideration of proposed bid protections at a July 7, 2015 hearing. The motion explains, “Under the Bid Procedures Order, the Debtors are authorized to enter into agreements (each a ‘Stalking Horse…

According to the U.S. Bankruptcy Court docket, the Court approved Altegrity’s motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including September 6, 2015 and November 5, 2015, respectively. As previously reported, “In just under four months, the Debtors have stabilized their businesses,…

According to the U.S. Bankruptcy Court docket, the Court approved Local’s emergency motion for order authorizing: (1) payment and honoring of pre-petition payroll obligations; and (2) approving proposed employee retention program for essential non-insider employees; memorandum of points and authorities in support thereof. As previously reported, “In anticipation of a potential change in control of the…

According to the U.S. Bankruptcy Court docket, GT Advanced Technologies filed a motion for an order, pursuant to Bankruptcy Code Sections 363(b) and 503(c)(3), approving supplemental severance payments to non-insider employees. The motion explains, “In light of the limited nature of GT Hong Kong’s continuing operations, GT Hong Kong has determined to terminate 16 employees…

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