October 17, 2019 − Dura Automotive Systems, LLC and six affiliated Debtors (“Dura” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Middle District of Tennessee, lead case number 19-06741. The Debtors, a leading global automotive systems supplier and 73.1% owned by Lynn Tilton's Patriarch Partners, LLC, are represented…

October 16, 2019 – Further to the Court's bidding procedure order of August 22, 2019 [Docket No. 156], the Debtors have notified the Court of the designation of ABG-Barneys, LLC ("ABG-Barneys") as a stalking horse in respect of a sale of substantially all of the Debtors' assets. ABG-Barneys, an acquisition vehicle created by Authentic Brands…

October 15, 2019 − Highland Capital Management, L.P.  (“HCMLP” or the “Debtor”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-12239. The Debtor, an investment entity managed by Dallas-based alternative investment platform Highland Capital Management (“Highland”), is represented by James E. O'Neill of Pachulski Stang…

October 15, 2019 – The Court hearing the Sears Holdings Corporation cases has confirmed the Debtors' Modified Second Amended Joint Chapter 11 Plan of liquidation [Docket No. 5370].  Although the confirmation order marks the completion of an important phase of the Debtors' long, resource-draining bankruptcy process, the Court's order makes clear that there remains a…

October 10, 2019 – The Debtors have responded to a proposed order filed with the Court by their debtor-in-possession ("DIP") lenders in a dispute which had threatened to further destabilize the Debtors' cases just as the Debtors are completing their search for a stalking horse bidder, a process that the Debtors' are currently required to…

October 9, 2019 – The Court hearing the PG&E Corporation cases has delivered a major setback to the Debtors' hopes of maintaining control over their Chapter 11 cases (and the ultimate widlfire tab they will have to pay), granting a joint motion filed by the Debtors’ Official Committee of Tort Claimants (the “TCC”) and the…

October 8, 2019 – The Court hearing the Fusion Connect cases issued an order approving (i) the Debtors’ Disclosure Statement, (ii) proposed Plan solicitation and voting procedures and (iii) a Plan confirmation hearing for November 14, 2019  [Docket No. 457]. On October 7, 2019, the Debtors filed their Second Amended Joint Chapter 11 Plan and…

October 7, 2019 – Further to an October 3rd auction and to an October 7th sale hearing, the Court approved the $16.5mn sale of the Debtors' E-Commerce Business assets City Chic Collective USA Incorporated (“City Chic”) [Docket No. 339]. The revised asset purchase agreement amongst the Debtors and City Chic is attached to the sale…

October 7, 2019 − George Washington Bridge Bus Station Development Venture LLC (the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 19-13196. The Debtors, the developers of the George Washington Bridge Bus Station in New York, are represented by Michael D. Sirota…

October 4, 2019 − Agera Energy LLC and five affiliated Debtors (“Agera Energy” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 19-23802. The Debtors, an electricity and natural gas reseller, are represented by Darren Azman of McDermott, Will & Emery…