September 12, 2018 – iHeartMedia filed a Fourth Amended Joint Chapter 11 Plan of Reorganization [Docket No. 1441] and related Disclosure Statement [Docket No. 1445]. One significant additional disclosure relates to class 8 (“CCOH Due From Claims“) in respect of which the Debtors note projected claims of $1,031,721,306 and a projected recovery of 14.44%.  Additional…

September 12, 2018 – Pacific Drilling filed the final form of its Equity Commitment Agreement with Quantum Pacific (Gibraltar) Limited [Docket No. 582]. The agreement includes a commitment premium (the “Commitment Premium”) of $40 million in new equity which the Debtors believe is necessary to induce support for its comprehensive $1.5 billion capital raising effort….

September 11, 2018 – The Rockport Company filed with the Court a motion to extend the periods during which the Company has an exclusive right to file a Chapter 11 Plan, and solicit acceptances thereof, through and including December 10, 2018 and February 11, 2019, respectively [Docket No. 489]. Absent the requested relief, the Plan…

September 10, 2018 – The Debtors’ Ad Hoc Group of Unsecured Noteholders (“the Ad Hoc Group”) filed “Cleansing Materials” which describe events involving (i) the Debtors and (ii) certain noteholders and lenders; the knowledge of which might keep members of the Ad Hoc Group from trading in the Debtors’ securities. Publication of these events is…

September 6, 2018 – Gibson Brands filed a Fourth Amended Joint Chapter 11 Plan of Reorganization [Docket No. 726] and requested approval of a Disclosure Statement addendum and amended solicitation procedures with respect to Class 6 And Class 8 claims (these two classes comprised of general unsecured claims of (i) less than $40,000 and (ii)…

Privately-held, The Nordam Group and four affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 18-11699. The Tulsa-based Company, which provides aerospace components, manufacturing and repair services to the business aviation industry, commercial aircraft industry, and military and defense markets worldwide, is represented by…

Zenith Bank Plc (“Zenith”) filed with the U.S. Bankruptcy Court a motion for dismissal or abstention under 11 U.S.C. Section 1112(b) and 305 (a)(1). In support of the dismissal, Zenith states, “The Debtors’ reorganization efforts hinged on success at a hearing before the Nigeria Federal High Court on July 6, 2018. The Nigeria Federal High…

Premier Exhibitions’ official committee of unsecured creditors filed with the U.S. Bankruptcy Court an objection to (a) an emergency motion of the official committee of equity security holders for derivative standing to prosecute litigation on behalf of the Debtors’ estates and (b) an emergency application to employ Robert Charbonneau and Agentis PLLC as special counsel…