In Form 8-K filed by Cumulus Media Inc. on November 1, 2017, the Restructuring Committee of the Company’s board of directors authorized the Company to forgo the scheduled interest payment on November 1, 2017, thereby entering into the applicable 30-day grace period under the terms of the Indenture. Such nonpayment constitutes a “default” under the…

Breitburn Energy Partners filed with the U.S. Bankruptcy Court a motion to approve a sixth amendment to the Company’s post-petition financing arrangements. The notice states, “Pursuant to this Motion, the Debtors seek authority to further amend their existing postpetition revolving loan facility.…that (a) extends the Existing DIP Facility’s scheduled maturity date to March 31, 2018;…

Performance Sports Group filed with the U.S. Bankruptcy Court a First Amended Joint Chapter 11 Plan of Liquidation and related Disclosure Statement. According to the Disclosure Statement, “Although referred to as a ‘joint’ plan, the Plan comprises 18 separate Plans (one for each of the Debtors’ Chapter 11 Cases). For purposes of this Disclosure Statement,…

The Pension Benefit Guaranty Corporation (PBGC) filed with the U.S. Bankruptcy Court an objection to Katy Industries’ motion for an order authorizing the Debtor to consent to, and take any further actions that it determines are reasonably necessary or appropriate to consummate, the sale of a real estate parcel owned by its non-debtor subsidiary. PBGC…

Ciber filed with the U.S. Bankruptcy Court a motion to approve a compromise and settlement by and among the Debtors and Zayo Group. The motion explains, “Zayo currently asserts general unsecured claims against the Debtors’ Estates totalling in excess of $37 million. Zayo has also asserted that approximately $700,000 of this amount actually relates to…

The U.S. Bankruptcy Court entered an order approving privately-held Garden Fresh Restaurant Holdings’ motion to effectuate the dismissal of the Chapter 11 cases and approving procedures related thereto. According to documents filed with the Court, “The Debtors have liquidated substantially all of their assets, terminated any remaining business operations, and there is no reasonable likelihood…

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