December 26, 2018 – Promise Healthcare Group requested Court approval of (i) bidding procedures in respect of the sale of the certain assets (the “Select Assets”) to Select Medical Corporation, (b) stalking horse bid protections in respect of the sale and (iii) procedural steps related to the sale [Docket No. 355].    The sale motion…

December 26, 2018 – Further to a sale hearing held on December 18, 2018, The Court hearing the Sears Holdings case approved the $60 million sale of the Debtors’ Home Improvement Business to stalking horse bidder Service.com [Docket No. 1417].  As previously cited from the motion requesting Court approval [Docket No. 450], “On November 2,…

December 21, 2018 – The Court hearing the Mission Coal Company case issued an order [Docket No. 490] approving (i) bidding procedures in respect of the sale of the Debtors’ assets and (ii) the proposed $145mn credit bid of the Debtors’ debtor-in-possession (“DIP”) lenders (the “DIP Lenders”). On December 5, 2018, the Court had previously…

December 24, 2018 – Toys “R” Us filed a Chapter 11 Plan [Docket No. 6053] and a related Disclosure Statement [Docket No. 6054] of Wayne Real Estate Parent Company (Toys “R” Us, the “Debtors,” and Wayne Real Estate Parent Company, the “Wayne Debtor”).   The Disclosure Statement provides the following overview of the TRU Retail…

December 24, 2018 – The Court hearing the Synergy Pharmaceuticals case issued a second interim order  [Docket No. 113] authorizing the Debtors to access (i) interim debtor-in-possession (“DIP”) financing, consisting of $8mn in new money DIP loans” and $16mn of  roll up DIP loans, and (ii) access cash collateral. The $8.0mn in interim financing authorized…

December 20, 2018 – SL Agent objected [Docket No. 1357] to the Debtors’ motion for the sale of property [Docket No. 938]. SL Agent is the agent for the Debtors’ Third Amended and Restated Loan Agreement, dated as of June 4, 2018 (the “Loan Agreement,” which had $831.4mn outstanding as of the Petition date). The…

December 20, 2018 – Frank Theatres Bayonne/South Cove, LLC and 23 affiliated Debtors (Frank Theatres” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of New Jersey, lead case number 18-34808 [Docket No. 1]. The Company, which operates pure play movie theaters, combination movie theater/family entertainment complexes, and…

December 17, 2018 – The Relay Company (f/k/a The Rockport Company) filed a Combined Plan and Disclosure Statement [Docket No. 649] and a blackline of the amended Combined Plan and Disclosure Statement reflecting changes to the version filed on October 16, 2018 [Docket No. 650].  The Court documents explain, “This Combined Plan and Disclosure Statement…

December 19, 2018 – The Court hearing The Relay Company (f/k/a The Rockport Company) case (i) approved the adequacy of the Debtors’ Combined Disclosure Statement and Chapter 11 Plan of Liquidation; and (ii) confirmed the Plan [Docket No. 664]. On December 17, 2019, the claims agent notified the Court that each of the three voting…