Avaya’s Second Amended Joint Chapter 11 Plan of Reorganization [became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed the Plan on November 28, 2017. BankruptcyData’s detailed Plan Summary notes, “The Revised Second Amended Plan is premised on a global settlement between the Mediation Parties, as further set forth in…

The U.S. Bankruptcy Court approved TerraVia Holdings’ motion to extend the exclusive period during which the Company can file a plan and solicit acceptances thereof through and including February 28, 2018 and April 30, 2018, respectively. As previously reported, “The Debtors’ request for an extension of the Exclusive Periods comes less than six weeks before…

On December 14, 2017, Moody’s Investors Service downgraded the corporate family rating and senior secured first lien term loan rating for TOMS Shoes, LLC, each to Caa3 from Caa2. The Company’s Caa2-PD probability of default rating was affirmed. According to Moody’s, the downgrades reflect Moody’s estimate of a below average family recovery rate in a…

U.S. Bank National Association filed with the U.S. Bankruptcy Court an objection to GenOn Energy’s Third Amended Joint Chapter 11 Plan of Reorganization. The objection asserts, “By virtue of filing of an amended plan and related plan supplement, the Debtors purport to have filed a motion pursuant to Bankruptcy Rule 9019 to approve a so-called…

The U.S. Trustee assigned to the Energy Future Holdings case and Delaware Trust Company filed with the U.S. Bankruptcy Court a separate final objection and reservation of rights, respectively, to Energy Future Holdings’ First Amended Joint Plan of Reorganization. The Trustee asserts, “The E-Side Plan may be otherwise confirmed but only to the extent that…

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