The U.S. Bankruptcy Court confirmed Triad Guaranty’s Amended Joint Plan of Reorganization [Revised]. As previously reported, “The proponents of the Plan are the Debtor and Wolfgang Holdings, LLC (‘Wolfgang’). Wolfgang is a Delaware limited liability company whose sole member is Chris Manderson. Chris Manderson (‘Manderson’) is a member of Triad DIP Investors, LLC. RaS II…

Premier Exhibitions’ official committee of equity security holders filed with the U.S. Bankruptcy Court a statement and reservation of rights related to the Company’s motion to extend the time for filing a Disclosure Statement to accompany Debtors’ Joint Plan. The committee states, “The Equity Committee takes no position on whether the Court should extend the…

Dextera Surgical filed with the U.S. Bankruptcy Court a first amendment to the Company’s stalking horse asset purchase agreement (APA). The amendment notes, “This First Amendment to Asset Purchase Agreement is made and entered into as of January 08, 2018, by and between Dextera Surgical, formerly known as Cardica (Seller) and AESCULAP (Buyer). The Parties…

The U.S. Bankruptcy Court approved Seadrill’s motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including May 10, 2018 and July 9, 2018 respectively. As previously reported, “To capture the full benefit of the Restructuring Support Agreement, the Debtors must proceed through…

The U.S. Bankruptcy Court issued an order confirming TerraVia Holdings’ Combined Disclosure Statement and Chapter 11 Plan of Liquidation [further revised]. As previously reported, “The Combined Disclosure Statement and Plan contemplates the liquidation and dissolution of the Debtors and the resolution of all outstanding Claims and Interests….The plan offers unsecured creditors a 12.25 percent recovery…

Privately-held Explo Oil, Inc.–and affiliated Debtors CVS Operating and CVS Production–filed for Chapter 7 bankruptcy from the U.S. Bankruptcy Court in the Eastern District of Texas, Sherman Division, lead case number 18-40047. The Company is located in Plano, TX and led by Mary Fuentes, Authorized Representative. The Company is represented in bankruptcy proceedings by Joyce…

Ironclad Performance Wear and its official committee of equity security holders filed with the U.S. Bankruptcy Court a Joint Plan of Liquidation. According to documents filed with the Court, “The Plan Proponents believe that the confirmation of this Plan provides the best vehicle for maximizing the distribution to the Shareholders…getting a significant distribution made to…

The U.S. Bankruptcy Court issued an order approving Dextera Surgical’s motion for orders (a) authorizing and approving bidding procedures and stalking horse payment; authorizing and approving the Debtor’s entry into the stalking horse asset purchase agreement (APA); scheduling an auction and sale hearing and (b) authorizing the sale of substantially all of the Debtor’s assets…

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