According to the U.S. Bankruptcy Court docket, Alberta, Canada-based GASFRAC Energy Services filed for Chapter 15 protection with the U.S. Bankruptcy Court in the Western District of Texas, case number 15-50161. The Company, which provides liquid petroleum gas fracturing services to oil and natural gas exploration and production companies, is represented by Steve A. Peirce…

According to a release issued by certain first lien bank lenders of Caesars Entertainment Operating Company (CEOC), these first lien bank lenders announced their entry into an amended and restated binding agreement to withhold their support for the restructuring support agreement (RSA). According to the release, members of an informal committee of certain beneficial holders…

According to the U.S. Bankruptcy Court docket, ALCO Stores filed a motion for an order, pursuant to Sections 363(b) and 105(a) of the Bankruptcy Code and Bankruptcy Rule 9019(a), for approval of settlement with Tiger Capital Group, SB Capital Group and Great American Group WF and amendment of the agency agreement. The motion explains, “After…

According to the U.S. Bankruptcy Court docket, Wet Seal filed a motion for an order, pursuant to 11 U.S.C. Section 105(a), 365(a) and 503(b), (I) approving and authorizing the assumption of a plan sponsorship agreement (PSA) and (II) approving and authorizing payment of the $1 million break-up fee and expense reimbursement. The motion explains, “The…

Carl Marks Advisors announced the following three promotions, effective immediately: Keith Daniels – Partner, 44, Jonathan Killion – Director, 31 and Rob Shapiro – Associate, 25. As a Partner on Carl Marks Advisors’ Operating team, Daniels will work on the advisory side of transactions, leveraging his extensive operating, finance and vertical sector experience. Daniels joined…

Morrison & Foerster announced the election of 11 lawyers to the firm’s Partnership, effective January 1, 2015. The group, comprised of five women and six men, includes lawyers from nine practice groups across seven offices. The Partner election of most interest to restructuring professionals is Jennifer Marines. A Member of the Business Restructuring and Insolvency…

According to documents filed with the SEC, Exide Technologies entered into an amendment to its previously amended and restated super-priority Debtor-in-Possession (D.I.P.) Credit Agreement, dated as of July 12, 2013, with its lenders and agent, JPMorgan Chase Bank. According to the 8-K, “The Amendment extends certain milestones relating to the Company’s restructuring efforts. Specifically, the…

According to the U.S. Bankruptcy Court docket, Caesars Entertainment Operating Company (CEOC) filed a motion for joint administration of lead case. The motion explains, “On a consolidated basis, CEOC and its subsidiaries reported approximately $993 million of Adjusted EBITDA on net revenues of approximately $5.4 billion for the twelve months ending September 30, 2014. On…

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