Bon-Ton Stores announced the winning bid in an auction for the Company’s assets, held pursuant to Section 363 of the U.S. Bankruptcy Code. Subject to U.S. Bankruptcy Court approval, a joint venture composed of the holders of the Company’s 8.0% Second Lien Secured Notes due 2021 and Great American Group and Tiger Capital Group will…
Rentech’s Second Amended Combined Disclosure Statement & Chapter 11 Plan of Liquidation became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed the Plan on March 30, 2018. According to documents filed with the SEC, on the effective date all assets of the Company will be transferred to the Rentech…
Walking Company Holdings filed with the U.S. Bankruptcy Court a First Amended Chapter 11 Plan of Reorganization and related Disclosure Statement. According to the Disclosure Statement, “Pursuant to the Plan, all of the outstanding equity interests in the Parent will be extinguished. The Plan Sponsors will provide a $10.2 million Consideration in Cash on the…
Orexigen Therapeutics filed with the U.S. Bankruptcy Court a revised bidding procedures order, which states, “Since the filing of the Bidding Procedures Motion, the Debtor has made revisions to the Original Bidding Procedures Order as Exhibit A. Exhibit B is a blackline comparing the Revised Proposed Order against the Original Bidding Procedures Order. The Debtor…
Seadrill filed with the U.S. Bankruptcy Court a Second Amended Joint Chapter 11 Plan (as Modified) of Reorganization, which notes, “On the Effective Date, the Debtors shall consummate the Equity Rights Offering and the Note Rights Offering in accordance with the Rights Offering Procedures. Holders of the Equity Rights shall receive the opportunity to purchase…
The U.S. Bankruptcy Court issued a final order approving Remington Outdoor Company’s post-petition secured financing motion. As previously reported, “The D.I.P. Term Facility is a senior secured superpriority non-amortizing U.S. dollar denominated term loan facility in an aggregate principal amount of up to $145 million consisting of two tranches: (i) (A) Initial Loans to be…
The U.S. Bankruptcy Court approved China Fishery Group’s Chapter 11 trustee’s revised sale of a non-debtor vessel to a new buyer, in accordance with the non-debtor asset sale order. As previously reported, “The Trustee intends to sell the ‘Damanzaihao,’ a fishing vessel currently anchored in the port of Chimbote, Peru, to DVS-R PTE Ltd, a…
Oakridge Holdings filed with the U.S. Bankruptcy Court a Chapter 11 Plan of Reorganization and related Disclosure Statement. According to the Disclosure Statement, “The implementation of the Plan is dependent upon the confirmation of the plan of reorganization for Stinar and its continued operation. Stinar, after confirmation, will manage its affairs and all of its…
Patriot National’s former directors Austin Shanfelter, James O’Brien, Michael Purcell and Jeffrey Rohr jointly filed with the U.S. Bankruptcy Court an objection to Patriot National’s Third Amended Joint Plan of Reorganization. The objection asserts, “The Former Directors are defendants or potential defendants in actual and threatened litigation relating to the services they provided to one…
FirstEnergy Solutions filed with the U.S. Bankruptcy Court a motion for entry of an order authorizing FirstEnergy Nuclear Operating Company (FENOC) to assume a uranium purchase and sale agreement. The motion explains, “As set forth in the Borland Declaration, FENOC is party to the Macquarie Contract with Macquarie, wherein FENOC has agreed to purchase uranium…
