October 17, 2018 – Creditors UMB Bank, N.A., as master indenture trustee, and Wells Fargo Bank, National Association, as indenture trustee (together, the “Secured Parties) filed an objection [Docket No. 557] to Verity Health System of California’s sale motion. The Secured Parties state, “The Debtors are seeking relief on an incomplete record. The Debtors have…

October 17, 2018 – GreenTech Automotive (“GreenTech”) and WM Industries Co (“WMIC”) filed an amended bidding procedures motion [Docket No. 328]. The motion notes, “The Bid Procedures Motion included as an exhibit the form of Asset Purchase Agreement (the ‘Initial APA’) which the Debtors had negotiated with Shenzen Jin Hong Investment Management Co., Ltd., commonly…

October 16, 2018 – Mission Coal Company requested Court authority [Docket No. 34] to obtain postpetition, debtor-in-possession (“DIP”) financing consisting of a superpriority priming multiple-draw term loan credit facility in the aggregate amount of no less than $202,941,464, which includes, “(i) the aggregate principal amount of up to $56,000,000 in respect of new money term…

October 16, 2018 – The Court hearing the Sears Holdings case approved the Debtors’ interim request to (i) borrow pursuant to the terms of a senior secured superpriority priming non-amortizing debtor-in-possession (“DIP”) asset-based credit facility (the “DIP ABL Facility”), in an aggregate principal amount of up to $1,830,378,380 billion on the terms and conditions set…

October 16, 2018 – The Ad Hoc Group of Taj Noteholders filed an objection [Docket No. 5291] to the proposed sale of the Debtors’ Shared Services Business [Docket No. 5199]. The Noteholders assert, “The proposed sale of the Shared Services Business—through which Toys Delaware provides critical information technology and other back-office services to its current…

October 16, 2018 – The Relay Company (f/k/a The Rockport Company) filed a Combined Plan and Disclosure Statement [Docket No. 554] and a related blackline which notes changes from the version filed on September 21, 2018  Docket No. 555]. The Disclosure Statement notes, “This Combined Plan and Disclosure Statement contemplates the creation of a Liquidating…

October 16, 2018 – Mission Coal Company (“Mission Coal” or the “Company”) and 10 affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Northern District of Alabama, lead case number 18- 23538 [Docket No. 1]. Mission Coal, a Kingsport, Tennessee-based energy company which produces and markets mostly metallurgical coal, is…

October 15, 2018 – Sears Holdings requested Court approval for postpetition, debtor-in-possession (“DIP”) financing and the use of cash collateral [Docket No. 7]. The financing motion explains, “The Prepetition First Lien Lenders have agreed to provide up to $1.83 billion senior secured superpriority priming debtor in possession asset-based credit facility (the ‘DIP ABL Facility’), with…

October 15, 2018 – The Court hearing the RMH Franchise Holdings case approved the Disclosure Statement related to the Company’s First Amended Joint Plan of Reorganization [Docket No. 648]. As previously reported [Docket No. 620], “The Plan implements a comprehensive restructuring of the Debtors through the issuance of the Plan Sponsor New Common Stock to…