Savient Pharmaceuticals filed with the U.S. Bankruptcy Court a Revised Chapter 11 Plan of Liquidation and related Disclosure Statement. According to the Disclosure Statement, “The plan contemplates and is predicated upon entry of an order substantively consolidating the Debtors’ estates and chapter 11 cases for all purposes, including voting, distribution and confirmation. On the effective…

The U.S. Bankruptcy Court approved First Mariner Bancorp’s motion for an order, pursuant to Sections 105, 362 and 364 of the Bankruptcy Code, (a) authorizing and approving debtor-in- possession financing and granting security interests and a super-priority administrative claim in connection therewith, (b) approving the terms and conditions of that super-priority debtor-in-possession credit agreement and…

Multiple parties – including the U.S. Trustee assigned to the Cengage Learning case, Gallagher Benefit Services, ACE American Insurance and Microsoft – filed with the U.S. Bankruptcy Court separate objections to Cengage Learning’s Amended Joint Plan of Reorganization. The Trustee states, “The United States Trustee objects to confirmation of the Plan because the Debtors seek…

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