On November 20, 2017, Moody’s Investors Service downgraded Houghton Mifflin Harcourt Publishers Inc.’s (HMH) [Houghton Mifflin Harcourt Company] corporate family rating to Caa1 from B3, its probability of default rating to Caa1-PD from B3-PD and its senior secured bank credit facility rating to Caa2 from B3. According to Moody’s, the downgrade reflects continued challenges that…

Verizon Communications filed with the U.S. Bankruptcy Court an objection to cure amounts in the executory contracts and unexpired leases to be assumed by the Debtors, pursuant to the Plan of Reorganization. The objection asserts, “Although Verizon does not generally oppose assumption, it objects to such assumption to the extent that the proposed cure fails…

Ciber filed with the U.S. Bankruptcy Court an objection to the motion of Ciber Global (f/k/a HTC Global Ventures) to enforce the terms of the asset purchase agreement. The objection asserts, “The Motion fundamentally misinterprets clear contractual language contained in the APA and attempts to foist upon the Debtors’ Estates obligations clearly assumed by the…

Real Industry filed with the U.S. Bankruptcy Court a D.I.P. notes purchase agreement and D.I.P. ABL agreement. According to documents filed with the Court, “Subject to the terms and conditions of this Agreement and the Financing Order and in reliance upon the representations and warranties of the Credit Parties contained herein, each Lender severally and…

Multiple parties – including the U.S. Trustee (UST) assigned to the Ignite Restaurant Group case, Navillus Group, Navigators Specialty Insurance Company and current and former employees represented by operation of the Fair Labor Standards Act (“Class Proof of General Unsecured and Priority Claimants”) – filed with the U.S. Bankruptcy Court separate objections to the Company’s…

Katy Industries filed with the U.S. Bankruptcy Court a certification of counsel regarding the order appointing a fee examiner and establishing related procedures concerning compensation and reimbursement of expenses of professionals and members of official committees and consideration of fee applications. Documents filed with the Court explain, “This Court hereby appoints M.J. Renick & Associates…

The U.S. Bankruptcy Court issued an interim order approving Real Industry’s motion to obtain post-petition secured financing, authorizing post-petition use of cash collateral and other pre-petition collateral and scheduling a final hearing. As previously reported, “The DIP Facilities consist of a senior secured debtor-in-possession revolving credit facility in the amount of $110 million provided by…

21st Century Oncology Holdings filed with the U.S. Bankruptcy Court a Supplement to the Company’s Joint Plan of Reorganization. The Supplement contains the following document: Exhibit D: form of the new intercreditor agreement. The Supplement notes, “Intercreditor Agreement is by and among Wilmington Savings Fund Society, FSB, as the ‘MDL Term Loan Agent’, Morgan Stanley…

Multiple parties -including Rooster Energy’s official committee of unsecured creditors, United States Specialty Insurance Company, Aspen American Insurance Company and ConocoPhillips Company – filed with the U.S. Bankruptcy Court separate objections to Rooster Energy’s Disclosure Statement and Plan. The unsecured creditors’ committee asserts, “The Rooster Committee has been engaged in discussions with the Debtors, Chet…

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