Edison Mission Energy filed with the U.S. Bankruptcy Court a motion for entry of an order (a) authorizing the termination of retiree benefits and (b) granting related relief. The motion explains, “The Sponsoring Debtors currently provide post-employment benefits other than pensions (collectively, the “Retiree Benefits”) to certain retirees and retirement-eligible employees, as well as their…

Savient Pharmaceuticals announced that it has completed the sale transaction with Crealta Pharmaceuticals through which Crealta acquires substantially all of its assets, including all KRYSTEXXA assets, for gross proceeds of approximately $120.4 million. The Company agreed to provide Crealta Pharmaceuticals with certain support services in connection with the transition of the business through January 31,…

Multiple parties – including U.S. Bank National Association, State of Texas ad valorem taxing jurisdictions and FiberTower’s official committee of unsecured creditors – filed with the U.S. Bankruptcy Court separate objections to FiberTower’s Second Amended Joint Chapter 11 Plan. The committee states, “The Committee is disappointed that the Debtors have put forth yet another plan…

GMX Resources filed with the U.S. Bankruptcy Court Supplement to its First Amended Joint Plan of Reorganization. The Supplement contains the following documents: Exhibit A: certificate of limited partnership of Thunderbird Resources, Exhibit B: agreement of limited partnership of Thunderbird Resources, Exhibit C: form of amended and restated limited partnership agreement of Thunderbird Resources, Exhibit…

Multiple parties – including Union Pacific Railroad, FirstEnergy Solutions, Stock Equipment Company, Commonwealth Edison and SAP Industries – filed with the U.S. Bankruptcy Court separate objections to Edison Mission Energy’s Disclosure Statement. Union Pacific Railroad Company explains, “To date, the Debtor has not provided information to Stock Equipment which is necessary for there to be…

The U.S. Bankruptcy Court approved Savient Pharmaceuticals’ motion to utilize certain wind down personnel to (i) finalize the orderly transition of the Debtors’ business, (ii) conduct the subsequent plan and claims resolution processes and (iii) perform various other necessary wind down activities. Full time wind down team members will be compensated at their current rates…

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