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, Allen Systems Group (ASG) filed an amended notice of agenda of matters scheduled for Court consideration. According to the agenda, the Company’s motion to retain Huron Consulting Services to provide a chief restructuring officer and other personnel and designate John C. DiDonato as chief restructuring officer is being…

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…

WMI Liquidating Trust, which was formed pursuant to Washington Mutual’s Seventh Amended Joint Plan, provided additional information regarding certain escrow CUSIPs issued to eligible former shareholders of Washington Mutual. As of the March 19, 2012 effective date of the Plan, Depository Trust Company (DTC) established and maintains positions in the escrow CUSIPs. These escrow CUSIPs…

According to the U.S. Bankruptcy Court docket, Exide Technologies filed a Third Amended Plan of Reorganization. A related Disclosure Statement was not filed as a result of the February 4, 2015 order approving the Disclosure Statement. The Third Amended Plan contains several modifications, including – among others – the following additions: “‘Preference Proceeds Distribution’ means…

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