Claire’s Stores’ Official Committee of Unsecured Creditors filed with the U.S. Bankruptcy Court an objection to the Debtors motion for entry of an order (i) approving the proposed Disclosure Statement and (ii) establishing solicitation and voting procedures. The Committee states, “The Plan delivers all of the Debtors’ considerable enterprise value to its controlling shareholder, Apollo,…

The U.S. Bankruptcy Court issued an interim Order approving New MACH Gen’s motion for interim and final orders (i) authorizing Debtors to obtain postpetition financing in the form of a multi-draw term loan facility from Beal Bank USA and Beal Bank, SSB, as initial lenders (the “DIP Lenders”), (ii) authorizing use of cash collateral, (iii)…

Credit Suisse AG and certain of its subsidiaries (“Credit Suisse”) announced that it has  reached an agreement with Lehman Brothers Holdings Inc. and certain of its subsidiaries (“Lehman”) to resolve legacy claims from Lehman’s 2009 bankruptcy. The claims relate to terminated derivatives transactions between the two parties. According to a Credit Suisse statement, “Under the…

Netflix filed with the U.S. Bankruptcy Court an objection to Relativity Media’s application for entry of an order authorizing the retention and employment of Winston & Strawn as attorneys for the Debtors. Netfix asserts, “Winston & Strawn LLP (‘Winston’) – is presently counsel for Netflix in a significant patent litigation in the District of Delaware….

Claire’s Stores and the Ad Hoc First Lien Group filed with the U.S. Bankruptcy Court separate objections to the motion of Oaktree Capital Management for entry of an order directing the Debtors to modify their marketing process. The Debtors assert, “For more than five months, the Debtors have engaged with Oaktree in good faith to…