November 9, 2018 – Elements Behavioral Health filed with the Court a Combined Plan and Disclosure Statement [Docket No. 569].  The following is a summary of classes, claims, voting rights and estimated recoveries under the Plan:   Class 1 (“DIP Facility Claims”) is unimpaired, deemed to accept and not allowed to vote on the Plan….

November 14, 2018 – Sears Holdings filed with the Court of a term sheet detailing a $350 million debtor-in-possession (“DIP”) multiple draw term loan facility (the GACP Junior DIP Facility”) to be provided by Great American Capital Partners Finance (“GACP”) to Sears Roebuck Acceptance Corp. and Kmart Corp. and certain of their affiliates [Docket No….

November 13, 2018 – American Tire Distributors filed an Amended Joint Plan of Reorganization [Docket No. 331] and related Disclosure Statement [Docket No. 332]. According to the Disclosure Statement, “Pursuant to the restructuring support agreement entered into in connection with these Chapter 11 Cases, the Debtors, the Consenting Noteholders holding approximately 75% of the principal…

November 13, 2018 – The Bank of New York Mellon (“BNYM”) filed an objection [Docket No. 4210] to Disclosure Statement for the Title III Plan of Adjustment of the Debts of Puerto Rico Sales Tax Financing Corporation [Doc. No. 4073]. BNYM asserts, “BNYM serves as trustee for all of the Existing Securities issued by COFINA…

November 13, 2018 – Lehman Brothers Holdings filed an objection [Docket No. 4213] to the Title III Plan of Adjustment of the Debts of Puerto Rico Sales Tax Financing Corporation. The objection explains, “While the Disclosure Statement is extensive as befits the nature of this case, it nevertheless fails to provide adequate information for creditors…

November 14, 2018 – The Court hearing the Nine West Holdings case approved [Docket No. 864] the Debtors’ revised Disclosure Statement [Docket No. 837] related to the Company’s First Amended Joint Plan of Reorganization [Docket No. 836] and concurrently set a January 28, 2019 date for the Plan confirmation hearing. The following is an updated…

November 13, 2018 – Bank of America, N.A., acting in its capacity as Administrative Agent, Collateral Agent and L/C Issuer (the “Agent”) filed an objection [Docket No.758] to RMH Franchise Holdings’ extension motion [Docket No. 688].  Bank of America asserts, “Under 11 U.S.C. § 1121(d), the exclusive periods may only be extended by the Court…

November 13, 2018 – The U.S. Trustee assigned to the Welded Construction case filed an objection [Docket No. 196] to the Debtors’ Key Employee Incentive Plan (the “KEIP”)  [Docket Nos. 121 and 122]. The U.S. Trustee asserts, “The Motion seeks approval of what the Debtors term a Key Employee Incentive Program (“KEIP”) for insiders. While…