November 9, 208 – The Debtors’ Official Committee of Unsecured Creditors filed an objection [Docket No. 640] to the Debtors’ proposed global bidding procedures [Docket No. 429]. The Committee asserts, “If approved, the Global Bidding Procedures will lock the Debtors into a three-to-four month process for a going concern sale of the Go Forward Stores…

November 9, 2018 – The Official Committee of Unsecured Creditors (the “Committee”) of RMH Franchise Holdings filed an objection [Docket No.742] to the Debtors’ First Amended Joint Chapter 11 Plan of Reorganization [Docket No. 618]. The objection states, “Throughout these cases, the Committee remained cautiously optimistic that the Debtors and ACON would be able and…

November 7, 2018 – Taco Bueno Restaurants filed a Chapter 11 Plan [Docket No. 21] and related Disclosure Statement [Docket No. 22]. The Disclosure Statement notes, “On October 24, 2018, the Initial Lender Group agreed to terms with Taco Supremo, LLC (‘Taco Supremo’), an affiliate of Sun Holdings, Inc. (‘Sun Holdings’), for the sale of…

November 5, 2018 – A group of certain funds affiliated with Ares Management (“Ares”) filed an objection [Docket No. 116] to two related motions seeking appointment of an equity committee in these cases [Docket Nos. 42 and 77].    The objection asserts, “Movants fail to acknowledge the heavy burden they carry, choosing instead to rely…

November 7, 2018 – PetroQuest Energy Firm requested Court authority to (i) assume the $50,000,000 Exit Facility Commitment Letter, dated as of November 6, 2018 and (ii) pay related fees and expenses (the “Commitment Expenses”) [Docket No.17]. The Debtors’ motion notes, “On November 6, 2018, as contemplated by the Restructuring Support Agreement, the Debtors entered…

November 7, 2018 – PetroQuest Energy filed an emergency motion requesting authority to enter into its Restructuring Support Agreement [Docket No. 16]. The Debtors state, “After months of negotiations, the Debtors and the Consenting Creditors reached an agreement regarding the restructuring of the Debtors’ capital structure. This agreement, which is embodied in a Restructuring Support…

November 6, 2018 – Taco Bueno Restaurants and 9 affiliated Debtors (“Taco Bueno” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Northern District of Texas, lead case number 18-33678 [Docket No. 1]. Privately held Taco Bueno, a Tex-Mex themed restaurant chain with 169 restaurants in Texas, Oklahoma, Arkansas,…

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…

November 6, 2018 – Sears Holdings’ Official Committee of Unsecured Creditors requested Court approval to conduct an examination of, and seek discovery and investigation from, the Debtors, their advisors and controlling shareholders, and other third parties on certain “insider problematic transactions” by and between the Debtors and ESL Investments, Inc., Seritage Growth Properties, Fairholm Capital…