The U.S. Bankruptcy Court approved SunEdison’s motion for entry of an order authorizing and approving (i) (a) its entry into a backstop commitment letter, (b) equity commitment agreement, (c) payment of fees and expenses and (ii) the rights offering procedures and related forms. As previously reported, “The Debtors seek approval of the Backstop Commitment Letter,…

The U.S. Bankruptcy Court approved, on a final basis, Nuverra Environmental Solutions’ financing motion. As previously reported, “In an effort to continue operations and preserve estate value, the Debtors secured two complimentary credit facilities: the $31.5 million DIP Revolving Facility from the lenders under the Existing Revolving Credit Facility (the ‘Existing Revolving Credit Facility Lenders’)…

Multiple parties – including Chubb Companies, Texas Ad Valorem Taxing Jurisdictions and the Internal Revenue Service (IRS) – filed with the U.S. Bankruptcy Court separate objections to Hancock Fabrics’ Second Amended Joint Chapter 11 Plan of Liquidation. The IRS asserts, “IRS is a creditor and party in interest. IRS filed an amended proof of claim…

Phillips Edison & Company, Ramco-Gershenson Properties filed with the U.S. Bankruptcy Court an objection to rue21’s motion for entry of final order authorizing the Debtors to assume the consulting agreement and approving procedures for store closing sales. The objection asserts, “There should be a finite period of time within which Debtors may conduct the GOB…

Paragon Offshore 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 August 4, 2017 and October 3, 2017 respectively. The motion explains, “The Debtors have made great strides towards confirming a chapter 11 plan…

The U.S. Bankruptcy Court approved Implant Sciences’ official committee of equity security holders’ motion for entry of an order approving settlement agreement between the official committee of equity security holders, DMRJ Group, Montsant Partners and Platinum Partners Value Arbitrage (PPVA) Fund. As previously reported, “Although the Proofs of Claim were filed in unliquidated amounts, the…

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