December 12, 2018 – Parker Drilling filed a Joint Chapter 11 Plan [Docket No. 17] and related Disclosure Statement [Docket No. 21].  The Disclosure Statement provides the following overview of the Debtors restructuring efforts: “The Debtors face obsolescence risk and technology changes while remaining capital constrained. A meaningful investment will be critical for the Debtors…

December 12, 2018 – The United Mine Workers of America objected [Document No. 417] to the Debtors’ proposed Key Employee Incentive Plan (the “KEIP”) and Key Employee Retention Plan (the “KERP”)  [Docket No. 354].    The objection states, “It is undisputed that Debtors did not consult union representatives in the design of the retention programs…

December 12, 2018 – Synergy Pharmaceuticals requested Court authority to enter into a $115 million debtor-in-possession (“DIP”) loan arrangement [Docket No. 15].    The motion states, “In the weeks leading up to the Petition Date, the Debtors and their advisors engaged in extensive, hard-fought negotiations with their prepetition lenders regarding potential proposals for debtor-in-possession financing…

December 12, 2018 – Synergy Pharmaceuticals filed a motion requesting Court approval of (i) proposed bidding procedures and (ii) a stalking horse agreement (the “Stalking Horse Agreement”) with Bausch Health (“BH”) pursuant to which BH has agreed to purchase substantially all of the Debtors’ assets for $185 million in cash [Docket No. 17]. The motion…

November 10, 2017 – Oak Point Partners acquired the remnant assets of the Waterford Wedgwood USA, Inc., et al. Bankruptcy Estates (Waterford Wedgwood) in November 2017. Between April 23, 2009 and April 27, 2009, Waterford Wedgwood and its affiliates filed voluntary petitions under chapter 7 of the Bankruptcy Code in the United States Bankruptcy Court…

December 11, 2018 – Toys “R” Us requested Court approval of a settlement agreement, dated December 11, 2018, amongst (i) the Debtors, (ii) Toys (Labuan) Holding Limited (the “Asia JV”), (iii) the TRU Non-Debtor Subsidiaries, (iv) the Ad Hoc Group of B-4 Lenders, (v) the Taj Holders Steering Group, and (vi) the Debtors’ Official Committee…

November 27, 2018 – The Debtors requested Court approval of a settlement agreement (the “Settlement Agreement”) reached between (i) the Debtors, (ii) Dine Brands Global, Inc., Applebee’s Restaurants LLC, and Applebee’s Franchisor LLC (collectively, “Applebee’s”), and (c) ACON Equity Partners III, L.P., ACON Franchise Holdings, LLC and any of their affiliated entities and individuals (collectively…

December 8, 2018 – iHeartMedia, Clear Channel Outdoor Holdings, Inc. (“CCOH”), and GAMCO Asset Management, Inc. (“GAMCO”) filed an emergency motion for authorization of a settlement agreement [Docket No. 2143]. The motion states, “As of the time of filing of this Motion, CCOH, one of the Debtors’ largest creditors holding a claim in the amount…