November 21, 2018 – LBI Media filed a motion to obtain debtor-in-possession (“DIP”) financing including in respect of interim borrowings of up to $10 million [Docket No. 12]. The motion states, “The Debtors seek authorization to obtain DIP Financing under a multiple-draw super-priority senior secured term loan facility in an aggregate principal amount not to…

November 26, 2018 – Exelon Generation Company, LLC (“Exelon” or “Buyer”) filed a complaint against Debtor FirstEnergy Solutions Corp. (“FES” or “Seller”) seeking a declaratory judgment and injunctive relief [Docket No. 1755] The complaint alleges, “Exelon and FES entered into an Asset Purchase Agreement dated July 9, 2018…pursuant to which Exelon agreed to purchase and…

November 26, 2018 – Fairway Energy, LP and 2 affiliated Debtors (collectively, “Fairway” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 18-12684 [Docket No. 1]. The Company, an independent salt dome crude oil storage business based in Houston, is represented by Edmon…

September 18, 2017 – Oak Point Partners acquired the remnant assets of the RoomStore, Inc. Bankruptcy Estate (RoomStore) in September 2017. On December 12, 2011, RoomStore filed a voluntary chapter 11 petition in the United States Bankruptcy Court for the Eastern District of Virginia, assigned Case No. 11-37790. Thereafter, the case was converted to chapter…

November 25, 2018 – Waypoint Leasing Holdings Ltd. and approximately 140 affiliated Debtors (collectively, “Waypoint” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 18-13648. The Company, a global helicopter leasing company that provides operating lease and financing solutions to helicopter…

November 21, 2018 – Summit Financial Corp. filed its first Amended Chapter 11 Plan. The Plan includes the following detail as to the order of payment of Allowed Claims:  1st – Administrative Claims; 2nd – Class 1, Allowed Secured Tangible Personal Property Tax Claim of  Broward County Records, Taxes & Treasury Division; 3rd – Class…

November 21, 2018 – The U.S. Trustee filed an objection [Docket No. 607] to the Debtors’ Disclosure Statement [Docket No. 571] citing multiple concerns about its adequacy. The objection stated, “The Disclosure Statement should not be approved in its current form because it fails to provide sufficient information to enable creditors to make an informed…

November 21, 2018 – Privately-held LBI Media, Inc. and 17 affiliated Debtors (together, “LBI Media” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 18-12655. The Company, the largest privately held, minority-owned Spanish-language broadcaster in the United States with TV and radio stations…