Gulfmark Offshore filed with the U.S. Bankruptcy Court a motion for an order approving the approving first amendment to the Company’s senior secured super priority debtor-in-possession credit agreement. The motion notes, “The definition of ‘Milestones” set forth in Annex D to the Credit Agreement is hereby amended as follows: (a) the phrase ‘by 90 days…

The U.S. Trustee assigned to the Adeptus Health case, SCG Capital and PST Services filed with the U.S. Bankruptcy Court separate objections to the Company’s Third Amended Joint Plan of Reorganization. The Trustee asserts, “In addition to the issues raised in the United States Trustee’s Prior Objection, the United States Trustee objects to the Third…

In Form 10-K filed on September 20, 2017, Amedica Corporation’s auditor, BDO USA, LLP, raised substantial doubt about the Company’s ability to continue as a going concern. According to BDO USA, the Company has recurring losses from operations and negative operating cash flows and needs to obtain additional financing to be compliant with debt covenants…

On September 21, 2017, S&P Global Ratings lowered its corporate credit rating on Charlotte Russe, Inc. to CCC- from CCC+ and its first-lien debt rating to CCC- from CCC+. According to S&P Global, the downgrade reflects S&P’s view that the probability of financial restructuring, including at least some of the Company’s debt obligations, at less…

Multiple parties including – Posner Park Retail; Ramco-Gershenson Properties Trust and Phillips Edison & Company; IREIT Louisville Dixie Valley, IREIT West Valley City Lake Park and Duluth (Gwinnett) SSR – filed with the U.S. Bankruptcy Court separate objections to the proposed cure amount provided in the Plan’s assumption schedules. The objection of landlords Ramco-Gershenson Properties…

The U.S. Trustee assigned to the Kid Brands case filed with the U.S, Bankruptcy Court a motion to convert the Company’s Chapter 11 reorganization to a liquidation under Chapter 7. The motion explains, “The Debtors have failed to comply with the United States Trustee Operating Guidelines and Reporting Requirements for Chapter 11 cases. A review…

Quadrant 4 Systems filed with the U.S. Bankruptcy Court a motion for an order authorizing the Debtor’s key employee incentive program (KEIP). The motion explains, “For a variety of reasons, including the limited availability of resources and the concentrated sale efforts focused on other Business Units, the Debtor was not simply not able to sell…

The U.S. Bankruptcy Court issued an order approving Caesars Entertainment Operating Company’s (CEOC) compromise or settlement, per Rule 9019, between CEOC and the State of Mississippi. As previously reported, “The ‘in lieu’ assessment payments claimed by Mississippi as administrative expense claims for years 2016, 2017, and 2018, in aggregate, amount to no less than $1,889,000….Subject…

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