Gordon Brothers announced the appointment of Sheila Smith to its Board of Advisors. Smith has over 25 years of experience in financial advisory and restructuring services. She will be responsible for providing guidance on the firm’s ongoing evolution. Smith retired in 2015 from Deloitte after serving in numerous leadership positions including Restructuring Service Line Leader…

The U.S. Bankruptcy Court approved Ciber’s motion to extend by 90 days the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including November 6, 2017 and January 5, 2018, respectively. As previously reported, “As the Court is aware, the Debtors consummated a Sale of substantially…

The U.S. Bankruptcy Court issued an order converting T3M’s Chapter 11 reorganization to a liquidation under Chapter 7. As previously reported, on September 20, 2017, the Court conditionally approved case conversion and explained, “If the Debtor does not file a sale procedures motion (the ‘Procedures Motion’) by 5:00 p.m. Pacific Time on September 21, 2017,…

WestMountain Gold filed with the U.S. Bankruptcy Court a First Amended Disclosure Statement, which notes, “While the Debtors have used $3.5 million as an initial capital raise in order to confirm the Plan, this number is an illustration of an amount that might be raised. The Debtors intend to proceed with confirmation of the Plan…

BankruptcyData’s detailed analysis and summary of Crossroads Systems’ the Prepackaged Plan of Reorganization with Technical Modifications, dated September 11, 2017, is now available. The U.S. Bankruptcy Court confirmed the Plan on September 18, 2017; however, an effective date has not yet been issued. BankruptcyData notes, “The Prepackaged Plan effectuates the terms of an agreement with…

Ironclad Performance Wear’s official committee of unsecured creditors filed with the U.S. Bankruptcy Court an objection to the Company’s asset purchase agreement, bidding procedures and stalking horse bid protections. The creditors committee alleges, “The Committee does not object to the sale process in principle- the Committee welcomes a fair and transparent marketing effort that facilitates…

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