February 26, 2019 – The Debtors’ Official Committee of Unsecured Creditors (the “Committee”) objected to the Debtors’ request for Court approval of the adequacy of the Debtors’ Disclosure Statement arguing that it “is inadequate, inaccurate and describes a plan that is not confirmable on its face” [Docket No. 515]. The objection states, “The Debtors’ approach…

February 25, 2019 – Further to a scheduled hearing, the Court hearing the Nine West Holdings case confirmed [Docket No. 1308] the Debtors' Third Amended Joint Plan of Reorganization ending a lengthy and often acrimonious Chapter 11 that pitted the Debtors' equity holders Sycamore Partners Management and Kohlberg Kravis Roberts & Co (together, the "Equity…

February 25, 2019 – The Court hearing the Innovative Mattress Solutions case issued an order [Docket No. 334] approving (i) bidding procedures in respect of the sale of substantially all of the Debtors' assets (the "Sale"), including certain bid protections, (ii) an asset purchase agreement, dated February 12, 2019, between the Debtors and Tempur World,…

February 25, 2019 − Windstream Holdings and more than 200 affiliated Debtors (NASDAQ: WIN; “Windstream” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 19-22312. The Company, a FORTUNE 500 company and a leading provider of advanced network communications and technology…

February 18, 2019 – The Debtors requested that the Court hearing the Aceto Corporation case issue both a bidding procedures order and a sale order. The bidding procedures order would authorize (i) the Debtors’ proposed bidding procedures in respect of a potential section 363 asset sale of the Debtors’ Chemical Plus Business (the “Sale”), (ii)…

February 22, 2019 – The Debtors requested Court authority to access $25mn in debtor-in-possession (“DIP”) financing, $17mn on an interim basis; with the financing to be used to purchase augmentation inventory to further maximize proceeds being generated during the Debtors’ store closing sales [Docket No. 216]. The DIP motion states, “The proposed DIP Facility and…

February 19, 2019 – The Court hearing the Verity Health System case issued an order [Docket No. 1572] approving (i) proposed bidding procedures for a sale of substantially all of the Debtors’ assets (the "Sale") and (ii) a form of asset purchase agreement (the "Stalking Horse APA") to serve as a base for an agreement…