September 13, 2018 – Hooper  Holmes’ Official Committee of Unsecured Creditors objected [Docket No. 82] to the Debtors’ bid procedures [Docket No. 18] and Stalking Horse APA. The Committee asserts, “The Committee is not opposed to the sale of the Debtors’ Assets through a fair, robust, and value-maximizing sale process….Nevertheless, there remain aspects of the…

September 13, 2018 – Quadrant 4 Systems’ Amended Plan of Liquidation was declared effective [Docket No. 536]. The Plan was previously confirmed by the Court on August 24, 2018 [Docket No. 527]. The Court document notes, “Upon the Effective Date, Amherst Partners, LLC (the “Liquidating Trustee”) was appointed Liquidating Trustee of the Quadrant 4 Liquidating…

September 12, 2018 – iHeartMedia filed a Fourth Amended Joint Chapter 11 Plan of Reorganization [Docket No. 1441] and related Disclosure Statement [Docket No. 1445]. One significant additional disclosure relates to class 8 (“CCOH Due From Claims“) in respect of which the Debtors note projected claims of $1,031,721,306 and a projected recovery of 14.44%.  Additional…

September 12, 2018 – Pacific Drilling filed the final form of its Equity Commitment Agreement with Quantum Pacific (Gibraltar) Limited [Docket No. 582]. The agreement includes a commitment premium (the “Commitment Premium”) of $40 million in new equity which the Debtors believe is necessary to induce support for its comprehensive $1.5 billion capital raising effort….

September 11, 2018 – The Rockport Company filed with the Court a motion to extend the periods during which the Company has an exclusive right to file a Chapter 11 Plan, and solicit acceptances thereof, through and including December 10, 2018 and February 11, 2019, respectively [Docket No. 489]. Absent the requested relief, the Plan…

September 10, 2018 – The Debtors’ Ad Hoc Group of Unsecured Noteholders (“the Ad Hoc Group”) filed “Cleansing Materials” which describe events involving (i) the Debtors and (ii) certain noteholders and lenders; the knowledge of which might keep members of the Ad Hoc Group from trading in the Debtors’ securities. Publication of these events is…

September 6, 2018 – Gibson Brands filed a Fourth Amended Joint Chapter 11 Plan of Reorganization [Docket No. 726] and requested approval of a Disclosure Statement addendum and amended solicitation procedures with respect to Class 6 And Class 8 claims (these two classes comprised of general unsecured claims of (i) less than $40,000 and (ii)…

August 23, 2018 – The U.S. Securities and Exchange Commission filed charges against 1 Global Capital LLC (“1 Global”) and its former CEO Carl Ruderman for allegedly defrauding at least 3,400 retail investors, more than one-third of whom had invested retirement funds. The charges, filed under seal on August 23, 2018 and presented by a…

September 5, 2018 – Brookstone’s Official Committee of Unsecured Creditors filed with the Court a redacted objection [Docket No. 319] to Debtors’ motion outlining bidding protections for the sale of the Debtors’ intellectual property assets to a newly-formed subsidiary or affiliate of Bluestar Alliance, LLC [Docket No. 287]. The Committee’s objection cites concerns over the…

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