October 31, 2019 – The Debtors notified the Court that their Joint Chapter 11 Plan of Reorganization had become effective as of October 31, 2019 [Docket No. 879]. The Court had previously approved the Debtors’ Joint Chapter 11 Plan of Reorganization on October 7, 2019 [Docket No. 825]. The Debtors also filed a Plan supplement…

October 30, 2019 – At a first day hearing, the Court hearing the Murray Energy Holding Co. cases has given the Debtors the green light to access $200.0mn of new money, debtor-in-possession ("DIP") financing over the vigorous objections of pre-petition term loan lender Black Diamond Commercial Finance L.L.C. ("Black Diamond"). In its nominally "limited" objection,…

October 29, 2019 – Further to an October 28, 2019 sale hearing and absent any further bids beyond that of stalking horse bidder Oregon Potato Company (“OPC”), the Court hearing the NORPAC Foods cases issued an order approving the $155.0mn sale of substantially all of the Debtors’ assets to OPC [Docket No. 317]. All pretty…

October 29, 2019 − Privately held Murray Energy Holding Co. and almost 100 affiliated Debtors (“Murray Energy” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Ohio, lead case number 19-56885. The Debtors, the largest privately owned coal company in the United States, are represented by…

October 25, 2019 – The Court hearing the Deluxe Entertainment Services cases issued a final order authorizing the Debtors to (i) access the $60.0mn  balance of a $115.0mn in debtor-in-possession (“DIP”) financing provided by an ad hoc committee of pre-petition term loan lenders (the "Ad Hoc Group") and (ii) continue using cash collateral [Docket No….

October 24, 2019 – The Court hearing the Stearns Holding case confirmed the Debtors’ Amended Joint Chapter 11 Plan of Reorganization [Docket No. 432].  On July 9, 2019, Stearns Holdings, LLC and six affiliated Debtors (together, “Stearns” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of…

October 23, 2019 – The Debtors' claims agent notified the Court hearing the Emerge Energy Services LP cases of Plan voting results [Docket No. 542]. Led by railcar lessor Trinity Industries Leasing Company ($320.5mn claim), general unsecured creditors (Class 6) have resoundingly rejected the Debtors' offer of a $0-2.2mn recovery in respect of an estimated…

October 21, 2019 − Nobilis Health Corp.and two affiliated Debtors (NYSE American: HLTH, “Nobilis Health” or the “Debtors”) filed for Chapter 7 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-12264. The Debtors, a healthcare development and management company with more than 30 locations across Texas and Arizona, are…

October 21, 2019 − Destination Maternity Corporation and two affiliated Debtors (Nasdaq: “DEST,” “Destination Maternity” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-12256. The Debtors, a leading designer and retailer of maternity clothing in the United States, are represented by Adam…

October 17, 2019 – The Debtors' Official Committee of Tort Claimants (the “TCC”) and a committee comprised of holders of certain of the Debtors' senior unsecured notes (the “Ad Hoc Committee,” and together with the TCC, the "Movants") filed a competing Chapter 11 Plan [Docket No. 4257]. On October 9, 2019, in a highly anticipated…