March 1, 2019 – Stretto, a market-leading bankruptcy-technology firm serving the corporate-restructuring and consumer-bankruptcy industries, has acquired CINgroup® and its Best Case® Bankruptcy/CINcompass® software and data-services platforms.   In a press release announcing the acquisition, Stretto commented, “CINgroup, including Best Case Bankruptcy, CINcompass and CIN Legal Data Services®, represent the leading brands in bankruptcy.  Serving…

March 4, 2019 − Magnum Construction Management (f/k/a Munilla Construction Management, “MCM” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Florida, lead case number 19-12821. The Company, a family-owned, Miami-based, construction company specializing in heavy civil construction, is represented by Jordi Guso of Berger Singerman…

March 1, 2019 – The Court hearing the Synergy Pharmaceuticals case issued an order [Docket No. 484] approving (i) the sale of substantially all of the Debtors' assets (the "Acquired Assets") to Bausch Health (“BH”) for total consideration of approximately $200mn and (ii) the revised asset purchase agreement (the “APA”), dated January 4, 2019, between…

February 28, 2019 − Privately-held Weatherly Oil & Gas, LLC (f/k/a SND-Vortus LP, “Weatherly” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 19-31087. The Company, a Fort Worth-based oil and natural gas company primarily focused on exploiting natural resources in the…

February 26, 2019 – The Debtors notified the Court that they had postponed until February 28, 2019 the auction initially scheduled for February 25, 2109 [Docket No. 409]. This is the second such postponement and reflects dynamic, pre-auction efforts; including last-minute interest from new potential bidders for (i) the Debtors' Janie and Jack assets and…

February 26, 2019 – The Court hearing the Synergy Pharmaceuticals case issued a final order [Docket No. 454] authorizing the Debtors to access debtor-in-possession (“DIP”) financing of $159.1mn (the “DIP Loans”) which is comprised of (i) approximately $114.1mn of loans representing a partial “roll-up” of prepetition secured obligations and (ii) $45.0mn of “new money” loans…