June 18, 2019 – The Debtors requested Court authority to (i) access $350.0mn in debtor in possession (“DIP”) financing consisting of (a) a new money revolving loan facility in an aggregate amount of up to $100.0mn (the “New Money Facility”), $35.0mn of which would be available on an interim basis and which will include a…

June 19, 2019 – The Court hearing the White Eagle Asset Portfolio cases approved the Debtors' Second Amended Joint Chapter 11 Plan [Docket No. 349] and the Debtors subsequently notified the Court that the Plan had become effective (also as of June 19, 2019). As agreed with their lenders, the Debtors will now embark on…

June 18, 2019 – Further to the Court's bidding procedures order [Docket No. 456], the Debtors notified the Court that it had designated a stalking horse bidder in respect of each of (i) Ditech Financial LLC, the Debtors' forward mortgage servicing and originations business (the "Forward Business"), and (ii) Reverse Mortgage Solutions, Inc., the Debtors'…

June 18, 2019 – The Court hearing the Fuse, LLC cases issued an order (i) approving the Debtors’ Disclosure Statement and (ii) confirming the Debtors' Amended Prepackaged Joint Plan of Reorganization [Docket No. 251]. On April 22, 2019, Fuse, LLC and eight affiliated Debtors (“Fuse” or the “Debtors”) filed for Chapter 11 protection with the…

June 18, 2019 − Legacy Reserves Inc. and 10 affiliated Debtors (NASDAQ: LGCY, "Legacy" or the "Debtors") filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 19-33395. The Midland, Texas based Debtors, an independent energy company focused on the horizontal development of unconventional plays in…

June 14, 2019 – The Court hearing the Triangle Petroleum Corporation cases approved the adequacy of the Debtors' Disclosure Statement and confirmed the Debtors' Chapter 11 Plan of Reorganization [Docket No. 71]. The Debtors' will emerge from bankruptcy in the hands of secured noteholder J.P. Morgan Securities, LLC (“JPMS”) who are in line for an…

June 12, 2019 – The Court hearing the Things Remembered, Inc. (now, RMBR Liquidation, Inc.) cases confirmed the Debtors' Joint Chapter 11 Plan of Liquidation and approved a related Disclosure Statement on a final basis [Docket No. 510].  On February 6, 2019, Things Remembered and three affiliated Debtors filed for Chapter 11 protection with the…

June 10, 2019 – The Debtors' Official Committee of Unsecured Creditors (the “Committee”) objected [Docket No. 147] to each of the Debtors’ debtor-in-possession ("DIP") financing motion and bidding procedures motion citing that these motions endanger estate value by compelling "a sale transaction within two months (August 2019), regardless of whether the sale process yields optimal…

June 11, 2019 – The Debtors filed an Amended Plan and a related Disclosure Statement; with each document including redlines showing changes to the versions filed on April 30, 2019 [Docket Nos. 472 and 473]. The Debtors also filed an amended liquidation analysis which makes modifications to the version that had otherwise been attached to…