Rentech filed with the U.S. Bankruptcy Court a motion to (a) obtain post-petition financing, (b) grant senior liens and super-priority administrative expense status and (c) grant adequate protection to pre-petition lenders. The motion explains, “Authorizing the Debtors to obtain secured postpetition financing in an aggregate principal amount of up to $3 million (the ‘DIP Facility’)…

George Putnam’s Turnaround Letter recently published its latest free report: “Top Five Turnaround Stocks for 2018,” which details five hot value stock recommendations—all hand-picked by George Putnam, III and based on potential stock profit in 2018 and beyond. One of the recommended stocks, Consolidated Communications (CNSL), acquired FairPoint Communications. The Turnaround Letter had recommended FairPoint…

The U.S. Bankruptcy Court issued an order approving GenOn Energy’s motion for entry of an order (i) authorizing and directing certain actions in furtherance of the Company’s GenMa settlement and (ii) estimating U.S. Bank’s claims. As previously reported, “The GenMA Settlement provides for, among other things: the payment of: (a) the outstanding Lessor Notes in…

CGG Holding filed with the U.S. Bankruptcy Court a status report with respect to the reorganization of the Debtors and their non-debtor affiliates (collectively, “CGG Group”) in France and the United States through the Safeguard Plan and the Joint Chapter 11 Plan of Reorganization [Further Revised], respectively. According to documents filed with the Court, “As…

The U.S. Trustee assigned to the Aeropostale case filed with the U.S. Bankruptcy Court an objection to the Company’s Disclosure Statement. The Trustee asserts, “The United States Trustee objects to the Third Amended Disclosure Statement because it fails to contain adequate information on a number of material issues. Specifically, the Third Amended Plan contains broad…

Privately-held Penthouse Global Digital, Inc. (Penthouse) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Central District of California (San Fernando Valley), lead case number 18-10102. Based in Chatsworth, CA, the Company is led by Kelly Holland as C.E.O. and is represented in bankruptcy proceedings by Michael H. Weiss of Weiss &…

COPSync filed with the U.S. Bankruptcy Court a motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including March 28, 2018 and May 27, 2018, respectively. The motion explains, “The Debtor and Debtor’s counsel are currently evaluating the proof of claims which…

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