Seadrill’s official committee of unsecured creditors filed with the U.S. Bankruptcy Court an emergency motion for an order determining that holders of credit agreement unsecured claims are improperly classified under the Debtors’ First Amended Joint Chapter 11 Plan of Reorganization. The motion explains, “In contrast to the substantial opportunities offered to Hemen and the other…

The U.S. Bankruptcy Court issued an order with changes made by the Court approving Point.360’s post-petition financing motion. As previously reported, “The non-default interest rate on the DIP Credit Facility is prime plus 1.5% per annum. The maturity date of the DIP Credit Facility is October 31, 2018. Lender shall receive a first priority lien…

BankruptcyData’s detailed analysis and summary of Ciber’s Plan of Liquidation, dated December 8, 2017, is now available. The U.S. Bankruptcy Court confirmed the Plan on December 20, 2017; however, an effective date has not yet been issued. BankruptcyData notes, “The Plan contemplates a liquidation of the Debtors and their Estates and is therefore referred to…

J.G. Wentworth (JGW) filed with U.S. Bankruptcy Court a Supplement to its Joint Prepackaged Plan of Reorganization. The Supplement contains the following documents: Exhibit A: new revolving credit facility (RCF) commitment letter, including a term sheet summarizing the key terms of the new RCF attached as Exhibit A thereto; Exhibit B: stockholders agreement; Exhibit C:…

The U.S. Bankruptcy Court approved Ezra Holdings’ motion to implement an employee incentive plan and the payment of obligations arising thereunder as administrative expenses. As previously reported, “EMITS is the global information technology (‘IT’) organization and IT shared service provider serving Ezra Holdings Limited (‘Ezra’) and its related companies spanning the United States, Europe, Africa,…

Golfsmith International Holdings and its official committee of unsecured creditors filed with the U.S. Bankruptcy Court a joint motion for entry of an order establishing procedures for the allowance, settlement and payment of 503(b)(9) claims. The motion notes, “As part of the Global Settlement, the Debtors, the Creditors’ Committee, and the Second Lien Parties decided…

The U.S. Trustee assigned to the Rooster Energy case and Chet Morrison Contractors & Morrison Energy Group filed with the U.S. Bankruptcy Court separate objections to the Amended Joint Plan of Reorganization of Cochon Properties and Morrison Well Services. The Trustee asserts, “The releases, discharge, exculpations and injunctions provided to ‘Released Parties’ in the Plan…

The U.S. Bankruptcy Court approved Uni-Pixel’s motion to establish and administer a key employee incentive program (KEIP). As previously reported, “The KEIP is necessary to incentivize critical personnel to continue to perform at a high level, without distraction, while assuming additional roles and performing services beyond the duties required by their former positions, in order…

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