November 9, 2018 – The Debtors’ Ad Hoc Group of Unsecured Noteholders filed an objection [Docket No. 835] to Nine West Holdings’ (“NWHI”) Disclosure Statement [Docket No. 783]. The Noteholders assert, “The Plan is centred upon a purported settlement of Debtor NWHI’s valuable claims against its equity holders for grossly inadequate consideration. The Ad Hoc…

November 12, 2018 – The NORDAM Group filed a Joint Postpackaged Chapter 11 Plan of Reorganization [Docket No. 657] and a related Disclosure Statement [Docket No. 658]. The following is the summary of claims, classes, voting rights and projected recoveries: Class 1 (“Priority Non-Tax Claims”) is unimpaired, presumed to accept and not entitled to vote…

November 9, 2018 – Nine West Holdings filed a First Amended Joint Plan of Reorganization [Docket No. 836] and a related revised Disclosure Statement [Docket No. 837]. The revised Disclosure Statement notes, “As part of the continued efforts to develop consensus around a viable chapter 11 plan, the Debtors have entered into Bankruptcy Court ordered…

November 12, 2018 – All American Oil & Gas Incorporated (“AAOG”) and two affiliated Debtors (Western Power & Steam, Inc. (“WPS”) and Kern River Holding Inc. (“KRH”) and together with AAOG and WPS, the “Company” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Western District of Texas, lead…

November 9, 2018 – The Court hearing the Tops Holding II case confirmed [Docket No. 765] the Company’s  Second Amended Joint Chapter 11 Plan of Reorganization (with Technical Modifications) [Docket No. 751].  As previously reported [Docket No. 548] “The Plan provides for the substantial reduction of the Debtors’ funded debt by approximately $455 million and…

November 9, 2018 – The Official Committee of Unsecured Creditors filed an objection [Docket No. 833] to Nine West Holdings’ Disclosure Statement [Docket No.783]. The Committee asserts, “The Committee has grave concerns regarding the Plan and the purported settlements contained therein. The Committee believes that rather than allocating the Debtors’ assets in accordance with the…

November 9, 2018 – The Court hearing the Aegean Marine Petroleum Network case approved on an interim basis [Docket No. 51] the Debtors’ debtor-in-possession (“DIP”) financing [Docket No. 17] to be provided by Mercuria Energy Group Limited (together with its affiliates, ‘Mercuria’).  The financing order states, “The Debtors are hereby authorized and empowered to immediately…

November 9, 2018 – Aegean Marine Petroleum Network requested Court approval [Docket No. 59] for (a) proposed procedures relating to the sale of its assets, (b) the sale of substantially all of the Debtors’ assets and (iii) a proposed stalking horse asset purchase agreement (the “Stalking Horse APA”) with Mercuria Asset Holdings (Hong Kong) Limited…

November 9, 2018 – Sears Holdings’ Official Committee of Unsecured Creditors filed an objection [Docket No. 629] to the Debtors’ application to retain Evercore Group as investment banker [Docket No. 424]. The committee asserts, “The Creditors’ Committee respectfully requests that the Court deny the Evercore Application absent additional evidence establishing the necessity of retaining Evercore…

November 9, 2018 – Sears Holdings requested Court approval for the sale of Medium Term Notes [Docket No. 642]. The motion explains, “By this Motion, the Debtors request, authority to sell certain SRAC Medium Term Notes Series B (the “MTNs”) issued by Debtor Sears Roebuck Acceptance Corp. (‘SRAC’) and currently owned by various other Debtors….