The U.S. Bankruptcy Court approved Residential Capital’s joint motion for entry of an order (1) preliminarily approving settlement agreement between named plaintiffs, individually and representatives of the Kessler settlement class, and the settling defendants; (2) granting class certification for purposes of settlement only; (3) approving the form and manner of notice to Kessler settlement class…

The U.S. Bankruptcy Court approved Residential Capital and its official committee of unsecured creditors’ Disclosure Statement and scheduled a November 19, 2013 hearing to consider confirming the Joint Plan of Reorganization. As previously reported, “The Plan is the culmination of extensive, good faith negotiations guided by the Honorable James M. Peck, as mediator (the “Mediator”),…

Arthur J. Gonzalez, the Court–appointed Examiner for Residential Capital case filed with the U.S. Bankruptcy Court a motion for entry of order granting discharge from duties, immunity from discovery, approval of disposition of investigative materials, and exculpation in connection with duties. The motion explains, “The Proposed Order would (i) discharge the Examiner from all further…

Overseas Shipholding Group’s (OSG) ad hoc committee of noteholders filed with the U.S. Bankruptcy Court a statement in support of the Debtors’ second motion to extend the exclusive periods to (I) file a Chapter 11 Plan and (II) solicit acceptances thereof. The noteholders state, “The Noteholder Group collectively holds approximately 64.5% of the unsecured bonds…

Overseas Shipholding Group’s official committee of unsecured creditors filed with the U.S. Bankruptcy Court a statement in support of the Debtors’ second motion to extend the exclusive periods to (I) file a Chapter 11 Plan and (II) solicit acceptances thereof. The Committee states, “By participating in these negotiation and work sessions throughout the requested 96-day…

Rotech Healthcare’s second lien noteholders filed with the U.S. Bankruptcy Court an objection to the official committee of equity security holders’ motion to disallow any make-whole payment under the Debtors’ second lien indenture. The objection explains, “The Motion to Disallow – which seeks an order prohibiting hypothetical ‘makewhole’ payments to creditors that are receiving no…

The U.S. Bankruptcy Court approved Oncure Holdings’ Disclosure Statement related to its Chapter 11 Plan of Reorganization and scheduled an October 3, 2013 hearing to consider the Plan. As previously reported, “The Plan contemplates certain transactions, including, without limitation, the following transactions: pursuant to an investment agreement dated June 22, 2013 (the ‘Investment Agreement’), Radiation…

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