November 27, 2018 – The Debtors’ Official Committee of Unsecured Creditors (“the Committee”) filed an objection [Docket No. 112] to the approval of the Debtors’s sale motion [Docket No. 59]. The objection states, “The Debtors seek approval of overly aggressive, off-market bid procedures and bid protection designed to ensure the sale of substantially all of…

November 27, 2018 – RMH Franchise Holdings requested Court authority to (i) enter into a stalking horse asset purchase agreement (the “Stalking Horse APA”) with ACON Equity Partners III, LP (“ACON” or the “Stalking Horse Bidder”) in relation to the Debtors’ sale of its interests in approximately 135 Applebee’s restaurant locations (the “Purchased Assets”) for…

November 26, 2018 – EXCO Resources filed with the Court a supplement to its Amended Plan Supplement [Docket No. 1315]. The supplement contains the following documents:  Exhibit A – Form of New Organizational Documents  Exhibit B – Schedule of Assumed Executory Contracts and Unexpired Leases  Exhibit C – Schedule of Rejected Executory Contracts and Unexpired…

November 20, 2018 – AG&E Holdings filed a Second Amended Chapter 11 Plan and related Disclosure Statement [Docket Nos. 75 and 76]. The Disclosure Statement was subsequently approved by the Court [Docket No. 81].    The following is a summary of classes, claims, voting rights and expected recoveries:   Class 1 (“Priority Claims”) is unimpaired,…

November 25, 2018 – Sears Holdings requested Court authority for a $350 million, multiple draw, junior debtor-in-possession (“DIP”) term loan (the “Junior DIP Financing”) [Docket No. 872]. The Debtors’ motion states, “The Junior DIP Financing, together with the DIP ABL Financing, provides a strong and clear message to the Debtors’ vendors, customers, and employees, as…

November 21, 2018 – LBI Media filed a motion to obtain debtor-in-possession (“DIP”) financing including in respect of interim borrowings of up to $10 million [Docket No. 12]. The motion states, “The Debtors seek authorization to obtain DIP Financing under a multiple-draw super-priority senior secured term loan facility in an aggregate principal amount not to…

November 26, 2018 – Exelon Generation Company, LLC (“Exelon” or “Buyer”) filed a complaint against Debtor FirstEnergy Solutions Corp. (“FES” or “Seller”) seeking a declaratory judgment and injunctive relief [Docket No. 1755] The complaint alleges, “Exelon and FES entered into an Asset Purchase Agreement dated July 9, 2018…pursuant to which Exelon agreed to purchase and…

November 26, 2018 – Fairway Energy, LP and 2 affiliated Debtors (collectively, “Fairway” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 18-12684 [Docket No. 1]. The Company, an independent salt dome crude oil storage business based in Houston, is represented by Edmon…

September 18, 2017 – Oak Point Partners acquired the remnant assets of the RoomStore, Inc. Bankruptcy Estate (RoomStore) in September 2017. On December 12, 2011, RoomStore filed a voluntary chapter 11 petition in the United States Bankruptcy Court for the Eastern District of Virginia, assigned Case No. 11-37790. Thereafter, the case was converted to chapter…