The U.S. Bankruptcy Court approved Perseon’s Revised Disclosure Statement and scheduled a December 20, 2016 hearing to consider the Chapter 11 Plan. According to documents filed with the Court, “Each holder of an allowed priority claim and general unsecured claims shall be paid in full in cash plus interest incurred from the petition date through…

The U.S. Bankruptcy Court issued an order, on an interim basis, approving Noranda Aluminum Holding’s global settlement agreement between the Debtors; term secured parties (Cortland Capital Market Services); Delaware Trust Company; the official statutory committee of unsecured creditors and the Pension Benefit Guaranty Corporation (PBGC). As previously reported, “The Pension Benefit Guaranty Corporation’s administrative priority…

The U.S. Bankruptcy Court approved C&J Energy Services’ senior executive incentive plan (SEIP). As previously reported, “In the months leading up to the Debtors’ bankruptcy filing, the Debtors and their Compensation Committee recognized that the company needed to do something meaningful to incentivize the Senior Executives in the face of the extra challenges at the…

Novation Companies’ official unsecured creditors’ committee and Taberna Preferred Funding I & Taberna Preferred Funding II filed with the U.S. Bankruptcy Court separate objections to the Debtors’ motion for an exclusivity extension. The committee asserts, “The Committee objects to the Motion, which was filed without any negotiation with or input from the Committee, because cause…

Chaparral Energy filed with the U.S. Bankruptcy Court a motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including January 11, 2017 and March 13, 2017, respectively. The motion explains, “The Debtors are working with the Prepetition Lenders and the Ad Hoc…

Core Resource Management’s official committee of unsecured creditors filed with the U.S. Bankruptcy Court a Chapter 11 Plan and related Disclosure Statement. According to the Disclosure Statement, “The Committee Plan proposes to transfer the operating business of the Debtor to Core Resource, LLC, an Arizona limited liability company (‘Core LLC’) whose sole member is the…

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