December 19, 2018 – The Court hearing The Relay Company (f/k/a The Rockport Company) case (i) approved the adequacy of the Debtors’ Combined Disclosure Statement and Chapter 11 Plan of Liquidation; and (ii) confirmed the Plan [Docket No. 664]. On December 17, 2019, the claims agent notified the Court that each of the three voting…

July 18, 2018 – Oak Point Partners acquired the remnant assets of the Lehr Construction Corp. Bankruptcy Estate (Lehr Construction) in July 2018. On February 21, 2011, Lehr Construction filed a voluntary petition under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York, assigned Case…

December 19, 2018 – The Court hearing the American Tire Distributors case confirmed [Docket No. 620] the Debtors’ Amended Joint Chapter 11 Plan of Reorganization (as Modified) [Docket No. 615]. The Company, which filed for Chapter 11 protection on October 4, 2018, is the largest replacement tire distributor in North America based on dollar amount…

December 13, 2018 – Wilmington Trust, National Association (“Wilmington”), the Trustee in respect of the Debtors’ 6 5/8% Senior Secured Notes due 2018, objected to the Debtors’ motion requesting authority to enter into a proposed $200mn junior debtor-in-possession (“DIP”) financing arrangement (the “Junior DIP Loan”) with Cyrus Capital [Docket No. 1207] citing its view that…

December 18, 2018 – David’s Bridal has received Court authority for (i) a pair of  debtor-in-possession (“DIP”) credit facilities (ii) its continued use of cash collateral [Docket No. 221].  As previously reported in respect of the requesting motion [Docket No. 17], “The Debtors seek authority to (i) obtain senior secured postpetition financing on a superpriority…

November 20, 2018 – The Court hearing the David’s Bridal case issued an interim order approving the Debtor’s proposed debtor-in-possession (“DIP”) financing [Docket No. 102] to be provided through Bank of America and Cantor Fitzgerald Securities.  As previously reported [Docket No. 17], “The Debtors seek authority to (i) obtain senior secured postpetition financing on a…

December 17, 2018 – The International Union of Operating Engineers, Local 953, AFL-CIO (“IUOE”) objected to the Debtors’ “Valued Employee Program [Docket No. 811] on the grounds that excluding the working man, while rewarding management, runs against the program’s stated goal of reducing “uncertainty” in order to retain employees. The objection states, “The IUOE represents…

December 17, 2018 – The Court hearing the Toys “R” Us, Inc. case confirmed the Chapter 11 Plan of affiliate Debtors Taj and TRU Inc. [Docket No. 5979]. This follows on the heels of a comprehensive settlement reached last week  amongst (i) the Debtors, (ii) Toys (Labuan) Holding Limited (the “Asia JV”), (iii) the TRU…