September 28, 2018 – Ranger Specialty Income Fund, LP (“Ranger Domestic”), Ranger Direct Lending Fund Trust (“Ranger Offshore”) and Ranger Alternative Management II, LP (collectively, “Ranger”), requested that the Court convert the Princeton Alternative Income Fund (“PAIF”) case from a Chapter 11 reorganization to Chapter 7 liquidation [Docket No. 335] and submitted a memorandum of…

September 28, 2018 – Claire’s Stores filed with the U.S. Bankruptcy Court a monthly operating report for the period of August 5, 2018 through September 1, 2018 [Docket No. 1058]. For the period, the consolidated Debtors reported operating income of $10.7 million and a net loss of $277,814 on $119.8 million in net sales. The…

September 30, 2018 – Brookstone filed with the Court a notice of successful bid and next-highest bid for the Debtors’ equity interests in certain non-Debtor joint venture subsidiaries, IP assets, airport leases and certain JV equity interests (collectively, the “Going Concern Assets”) [Docket No. 466]. The Debtors state, “An Auction for the Going Concern Assets…including…

September 28, 2018 – The U.S. Department of Homeland Security, the U.S. Customs and Border Protection (“CBP”) and the U.S. Internal Revenue Service (“IRS”), filed an objection [Docket No. 835] to the Debtors’ Fourth Amended Joint Chapter 11 Plan of Reorganization [Docket No. 726], citing (i) the Debtor’s failure to file its most recent tax…

September 27, 2018 – The Court hearing the J & M Sales case approved (i) a proposed critical vendor bailment program with respect to $15,000,000 of new critical vendor deliveries and (ii) entry into bailment agreements with critical vendors and a related escrow agreement with Michael Fallas [Docket No. 514]. As previously reported [Docket No….

September 27, 2018 –  Creditor OHI Asset RO filed with the Court an objection to the fifth monthly application of Pepper Hamilton; CohnReznick LLP; and Norton Rose Fulbright US (collectively, the “Committee Professionals”) for allowance of compensation for services rendered and for reimbursement of expenses as Counsel for the Official Committee of Unsecured Creditors for…