September 27, 2018 – The Court hearing the J & M Sales case approved (i) a proposed critical vendor bailment program with respect to $15,000,000 of new critical vendor deliveries and (ii) entry into bailment agreements with critical vendors and a related escrow agreement with Michael Fallas [Docket No. 514]. As previously reported [Docket No….

September 27, 2018 –  Creditor OHI Asset RO filed with the Court an objection to the fifth monthly application of Pepper Hamilton; CohnReznick LLP; and Norton Rose Fulbright US (collectively, the “Committee Professionals”) for allowance of compensation for services rendered and for reimbursement of expenses as Counsel for the Official Committee of Unsecured Creditors for…

September 26, 2018 – The Court hearing the FirstEnergy Solutions case approved [Docket No. 1465] the settlement agreement (the “Settlement Agreement”), dated August 26, 2018, by and between (i) FirstEnergy Corp. (“FirstEnergy” or the “Company”), (ii) the FES Creditor Groups (consisting of key creditors of the Company’s wholly-owned subsidiary FirstEnergy Solutions Corp. and its subsidiaries,…

September 26, 2018 – The Court hearing the Orianna Health Systems case issued an order partially granting and partially denying the motion of creditor OHI Asset RO requesting authority to credit bid up to $300 million in any asset sale carried out by the Debtors [Docket No. 1006]. The order states, “The Omega Entities may…

September 26, 2018 – The Court hearing the Pacific Drilling case authorized the Debtors’ motion to conduct a $350 million rights offering in connection with the Debtors’ Chapter 11 Plan of Reorganization [Docket No. 619].  As previously reported in respect of this key component to the Debtors’ comprehensive $1.5 billion fund raising effort [Docket No….

September 21, 2018 – On July 12, 2018, Agrokor d.d. (“Agrokor”) and eight affiliated Debtors filed for Chapter 15 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 18-12104. [Docket No. 1] Previously, on April 10, 2017, Agrokor commenced proceedings under the Croatian Extraordinary Administration Law (the “CEAL”)…

September 26, 2018 – The Court hearing the Heritage Home Group case approved the sale of the Debtors’ Luxury Brands Business assets, including the Debtors’ Hickory Chair, Maitland-Smith and Pearson brands, to Hickory Chair, LLC (the “Purchaser”) [Docket No. 324]. The auction previously scheduled for September 20, 2018 was cancelled as the Purchaser was the…

September 25, 2018 – J & M Sales requested Court approval for (i) a proposed critical vendor bailment program with respect to $15,000,000 of new critical vendor deliveries and (ii) entry into bailment agreements with critical vendors and a related escrow agreement with Michael Fallas [Docket No. 491]. The motion notes, “Despite entry of the…

September 26, 2018 – The Court hearing The NORDAM Group case (i) approved the Debtors’ settlement and global resolution with Gulfstream Aerospace Corporation (“GAC”) that resolves a longstanding dispute with respect to the Debtors’ production of “Nacelle Systems with Podding” for GAC’s G500 and G600 aircraft (the “PW800 Program”) and (ii) approved the Debtors’ asset…