According to the U.S. Bankruptcy Court docket, multiple parties – including, among others, Idea Boardwalk, Revel AC’s official committee of unsecured creditors, ACR Energy Partners, Azure AC Allegretti, Exhale Enterprises XXI, Mussel Bar AC, PM Atlantic City, Marshall Retail Group and Bank of New York Mellon – filed separate objections to Revel AC’s motion for…

Christopher Celentino, a bankruptcy and transactional finance Partner, has been named Managing Partner of Ballard Spahr LLP’s San Diego, CA office. Celentino is well known for his work on matters involving creditor rights, fiduciary services litigation, business reorganization and workouts and insolvency and bankruptcy law. In his bankruptcy practice, Celentino regularly represents creditors in Chapter…

According to the U.S. Bankruptcy Court docket, the Court confirmed privately-held LightSquared’s (aka SkyTerra Communications) Modified Second Amended Joint Plan of Reorganization, which gives majority equity control to Centerbridge Capital Partners, Fortress Investment Group and a unit of JPMorgan Chase & Co. and minority control to Harbinger Capital Partners. On the Plan’s effective date, the…

According to the U.S. Bankruptcy Court docket, Dune Energy’s official committee of unsecured creditors filed a limited objection to the Debtors’ bidding procedures and bid protection motions. The objection explains, “The Debtors’ secured lenders are improperly using the Chapter 11 process to facilitate an expedited sale of their collateral for their sole benefit. Any sale…

According to the U.S. Bankruptcy Court docket, Altegrity filed a Joint Chapter 11 Plan and related Disclosure Statement. According to the Disclosure Statement, “As of the Petition Date, the Debtors had outstanding debt in the aggregate principal amount of approximately $1,788.2 million, consisting of approximately $1,649.8 million in secured debt and $138.5 million in unsecured debt…

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…

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