Westech Capital’s Chapter 11 trustee filed with the U.S. Bankruptcy Court a First Amended Disclosure Statement related to the trustee’s Chapter 11 plan. According to the Disclosure Statement, “Conversion of this case to a Chapter 7 liquidation will return less to creditors than the implementation and Confirmation of this Plan due to the additional lawyer…

Cosi First Amended Joint Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed the Plan on April 25, 2017. BankruptcyData’s detailed Plan Summary notes, “The Plan provides for the reorganization of the Debtors and for their continued existence as the reorganized Debtors with 100% of the…

rue21 and three affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Western District of Pennsylvania, lead case number 17-22045. The Company, which retails specialty teen apparel, is represented by Eric A. Schaffer of Reed Smith. According to the Company, “The restructuring is an important step forward in rue21’s ongoing…

Golfsmith International Holdings filed with the U.S. Bankruptcy Court a second motion to extend by 120 days its exclusive periods to file a Chapter 11 plan and solicit acceptances thereof through and including September 11, 2017 and November 8, 2017, respectively. The motion explains, “The Debtors have worked toward winding down their businesses and affairs…

The U.S. Bankruptcy Court approved US Dataworks’ debtor-in-possession financing motion. As previously reported, “The Debtor has obtained a commitment for a fully underwritten $150,000 debtor-in-possession financing facility (the ‘DIP Facility’) from TBB, who is to serve as the DIP Lender and which also, intends to purchase the Debtor’s assets….The DIP Facility commitment received by the…

Katy Industries and 13 affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 17-11101. The Company, which manufacturers, imports and distributes cleaning and storage products, is represented by Stuart M. Brown of DLA Piper. The Company also announced an agreement with a newly-created entity…

First NBC Bank Holding filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Eastern District of Louisiana, case number 17-11213. The bank holding company is represented by William E. Steffes of Steffes, Vingiello & McKenzie. On April 28, 2017, the Company’s wholly-owned banking subsidiary, First NBC Bank, was closed by the Louisiana…

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