January 25, 2019 – Further to the cancellation of the auction planned for January 15, 2019 and the Debtors’ designation of stalking horse bidder Vermillion Power (the “Stalking Horse Bidder”) as the successful bidder in respect of the Debtors’ West Lorain assets (the “West Lorain Assets”), the Court hearing the FirstEnergy Solutions case approved [Docket…

January 25, 2019 – The Debtors filed a notice detailing the results of an auction held in respect of the Debtors’ pharmacy assets on January 23, 2019. Walgreens Boots Alliance was named the successful bidder in respect of about half of the pharmacies auctioned off (@63 stores). Albertsons (7), CVS (13), Hy-Vee (6), Lewis Drug…

January 25, 2019 – Talen Montana, LLC (“Talen”) objected to confirmation of the Debtors’ Plan, arguing that the Debtors’ recently announced intention to reject certain coal supply agreements between Talen and the Debtors, without otherwise presenting a legitimate justification for doing so, renders the Plan unconfirmable. Talen also suggests that there exists a non-legitimate rationale…

January 16, 2019 – The Court hearing the Westmoreland Coal case appointed U.S. Bankruptcy Court Judge Marvin Isgur as a mediator and ordered that (i) Mar-Bow Value Partners, LLC and Jay Alix (collectively, Mar-Bow), (ii) McKinsey Recovery and Transformtion Services (“McKinsey”) and (iii) the Debtors to appear before Judge Isgur for mediation [Docket No. 1088]. …

January 23, 2019 – Further to the Debtors’ January 22, 2019 auction and its selection of successfull and back-up bidders [Docket No. 125], the Debtors received Court approval [Docket No. 129] for (i) an asset purchase agreement (the “SCM APA”) between (a) the Debtors and (b) SCM Lifescience Co., LTD. and Genexine,Inc., (collectively, the “Buyers”)…

January 23, 2019 – Sam Kane Beef Processors (“SKB” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 19-20020 [Docket No. 1]. The Company, which has operated a meat-packing plant in Corpus Christi, Texas since 1949 (see “God Bless America” and “People…

January 23, 2019 – Maremont Corporation and 3 affiliated Debtors (“Maremont” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-10118 {Docket No. 1]. The Debtors,each a wholly-owned, non-operating subsidiary of Meritor, Inc. (“Meritor,” NYSE: MTOR) historically involved in the manufacturing of automobile…

January. 22, 2019 – Irvine, California-based Bankruptcy Management Solutions (BMS) unveiled a new name and brand, Stretto, intended to “reflect the company’s growth and evolution into a full-service bankruptcy-administration technology and services provider.”   Eric Kurtzman, co-CEO at Stretto, stated, “We’re excited to announce the launch of our new brand and, in essence, a new…

January 22, 2019 – The Debtors filed notice that their Amended Joint Prepackaged Chapter 11 Plan of Reorganization became effective as of January 22, 2019 [Docket No. 315]. The Court had previously confirmed the Plan on December 21, 2018 [Docket No. 282]. The Debtors, a pure play Mid-Continent independent energy company engaged in the exploration,…

January 17, 2019 – The Debtors notified [Docket No. 2207] the Court hearing the iHeartMedia case that they had reached an agreement in principle with Wilmington Savings Fund Society, FSB (the “Legacy Notes Trustee”) regarding a settlement and related proposed modifications to the Debtors’ Modified Fifth Amended Joint Chapter 11 Plan of Reorganization of iHeartMedia,…