November 9, 2018 – The Court hearing the Aegean Marine Petroleum Network case approved on an interim basis [Docket No. 51] the Debtors’ debtor-in-possession (“DIP”) financing [Docket No. 17] to be provided by Mercuria Energy Group Limited (together with its affiliates, ‘Mercuria’).  The financing order states, “The Debtors are hereby authorized and empowered to immediately…

November 9, 2018 – Aegean Marine Petroleum Network requested Court approval [Docket No. 59] for (a) proposed procedures relating to the sale of its assets, (b) the sale of substantially all of the Debtors’ assets and (iii) a proposed stalking horse asset purchase agreement (the “Stalking Horse APA”) with Mercuria Asset Holdings (Hong Kong) Limited…

November 9, 2018 – Sears Holdings’ Official Committee of Unsecured Creditors filed an objection [Docket No. 629] to the Debtors’ application to retain Evercore Group as investment banker [Docket No. 424]. The committee asserts, “The Creditors’ Committee respectfully requests that the Court deny the Evercore Application absent additional evidence establishing the necessity of retaining Evercore…

November 9, 2018 – Sears Holdings requested Court approval for the sale of Medium Term Notes [Docket No. 642]. The motion explains, “By this Motion, the Debtors request, authority to sell certain SRAC Medium Term Notes Series B (the “MTNs”) issued by Debtor Sears Roebuck Acceptance Corp. (‘SRAC’) and currently owned by various other Debtors….

November 9, 208 – The Debtors’ Official Committee of Unsecured Creditors filed an objection [Docket No. 640] to the Debtors’ proposed global bidding procedures [Docket No. 429]. The Committee asserts, “If approved, the Global Bidding Procedures will lock the Debtors into a three-to-four month process for a going concern sale of the Go Forward Stores…

November 9, 2018 – The Official Committee of Unsecured Creditors (the “Committee”) of RMH Franchise Holdings filed an objection [Docket No.742] to the Debtors’ First Amended Joint Chapter 11 Plan of Reorganization [Docket No. 618]. The objection states, “Throughout these cases, the Committee remained cautiously optimistic that the Debtors and ACON would be able and…

November 7, 2018 – Taco Bueno Restaurants filed a Chapter 11 Plan [Docket No. 21] and related Disclosure Statement [Docket No. 22]. The Disclosure Statement notes, “On October 24, 2018, the Initial Lender Group agreed to terms with Taco Supremo, LLC (‘Taco Supremo’), an affiliate of Sun Holdings, Inc. (‘Sun Holdings’), for the sale of…

November 5, 2018 – A group of certain funds affiliated with Ares Management (“Ares”) filed an objection [Docket No. 116] to two related motions seeking appointment of an equity committee in these cases [Docket Nos. 42 and 77].    The objection asserts, “Movants fail to acknowledge the heavy burden they carry, choosing instead to rely…

November 7, 2018 – PetroQuest Energy Firm requested Court authority to (i) assume the $50,000,000 Exit Facility Commitment Letter, dated as of November 6, 2018 and (ii) pay related fees and expenses (the “Commitment Expenses”) [Docket No.17]. The Debtors’ motion notes, “On November 6, 2018, as contemplated by the Restructuring Support Agreement, the Debtors entered…