November 16, 2018 – Advanced Sports Enterprises, Inc. (“ASE” or the “Company”) and four affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Middle District of North Carolina, lead case number 18-80860. The Company, which designs, markets and sells premium bicycle brands through a distribution network that reaches 80 markets…

November 14, 2018 – Sears Holdings’ Official Committee of Unsecured Creditors filed an objection [Docket No. 740] to the Debtors’ debtor-in-possession (“DIP”) financing motion and cash management motion [Docket Nos. 7 and 5, respectively].  The Committee asserts, “The granting of the joint and several suprpriority claims and related liens in respect of the rolled up…

November 15, 2018 – Sears Holdings requested Court approval of (i) a Key Employee Incentive Plan (the “KEIP”) for 18 employees and (ii) a Key Employee Retention Plan (the “KERP”) for 322 non-insiders [Docket No. 766].  The motion explains, “The [KEIP] program provides a total, incentive-based award opportunity ranging from approximately $1.06 million per quarter…

November 15, 2018 – The Court hearing the Westmoreland Coal Company case approved the Debtor’s request to (i) enter into a stalking horse purchase agreement with an entity formed on behalf of the Debtors’ prepetition secured creditors in respect of the sale of substantially all of the Debtors’ assets and (ii) adopt related bidding procedures…

August 28, 2018 – Oak Point Partners acquired the remnant assets of the Berkline-BenchCraft Holdings, LLC, et al. Bankruptcy Estates (Berkline-BenchCraft) in August 2018. On May 2, 2011, Berkline-BenchCraft and its affiliates each filed a voluntary petition under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware,…

November 13, 2018 – The Court hearing the Toys “R” Us case confirmed the Fourth Amended Chapter 11 Plans of Toys Delaware and Geoffrey (the “Delaware-Geoffrey Plan”) [Docket No. 5623]. The Debtors filed the Delaware Geoffrey-Plan on November 12, 2018 [Docket No. 5602] and subsequently filed a Second Amended Plan Supplement for the Delaware Geoffrey-Plan…

November 9, 2018 – Elements Behavioral Health filed with the Court a Combined Plan and Disclosure Statement [Docket No. 569].  The following is a summary of classes, claims, voting rights and estimated recoveries under the Plan:   Class 1 (“DIP Facility Claims”) is unimpaired, deemed to accept and not allowed to vote on the Plan….

November 14, 2018 – Sears Holdings filed with the Court of a term sheet detailing a $350 million debtor-in-possession (“DIP”) multiple draw term loan facility (the GACP Junior DIP Facility”) to be provided by Great American Capital Partners Finance (“GACP”) to Sears Roebuck Acceptance Corp. and Kmart Corp. and certain of their affiliates [Docket No….