November 19, 2018 – American Tire Distributors requested Court approval of work fee letter in connection with its anticipated exit financing, and payment of fees and expenses thereunder [Docket No. 344]. The exit financing motion explains, “The Debtors’ restructuring support agreement and plan of reorganization contemplate that their approximately $980 million DIP facility will be…

November 19, 2018 – David’s Bridal requested Court approval of debtor-in-possession (“DIP”) financing [Docket No. 17] to be provided through Bank of America and Cantor Fitzgerald Securities. The DIP financing motion explains, “The Debtors seek authority to (i) obtain senior secured postpetition financing on a superpriority basis consisting of a senior secured superpriority revolving credit…

November 19, 2018 – David’s Bridal, Inc. and three affiliated Debtors (together, “David’s Bridal” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 18-12635 [Docket No. 1]. The Company, an international bridal retailer and the largest U.S. destination for bridal gowns, wedding-related apparel,…

November 16, 2018 – The Court hearing the Sears Holdings’ case issued an order (i) approving bidding procedures for the sale of Sears Home Improvement Business (the “SHIP Business”), (ii) approving stalking horse bid protections, (iii) scheduling auction and (iv) approving the sale of SHIP Business in accordance with a November 2, 2018 asset purchase…

November 16, 2018 – EXCO Resources requested Court authority to enter into exit financing agreements, and incur and pay related fees, indemnities, and expenses [Docket No. 1273]. The exit financing notes motion, “The Debtors, in consultation with their advisors, have negotiated, and the Plan expressly contemplates, Exit Facilities that will facilitate the Debtors’ emergence from…

November 16, 2018 – The U.S. Trustee filed an objection [Docket No. 785] to the Debtors’ First Amended Joint Chapter 11 Plan. The U.S. Trustee asserts, “Significant issues have been raised by numerous of the Debtors’ creditors in their objections to confirmation of the Plan. These issues include, but are not limited to, feasibility of…

November 16, 2018 – Snow Covered Capital filed an objection [Docket No. 999] to the motion of the Debtors’ Official Committee of Unsecured Creditors to convert the Chapter 11 cases to a cases under Chapter 7 [Docket No. 964]. Snow Covered Capital asserts, “In the Motion to Convert, the UCC proposes to place enormous responsibilities…

November 16, 2018 – Advanced Sports Enterprises, Inc. (“ASE” or the “Company”) and four affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Middle District of North Carolina, lead case number 18-80860. The Company, which designs, markets and sells premium bicycle brands through a distribution network that reaches 80 markets…

November 14, 2018 – Sears Holdings’ Official Committee of Unsecured Creditors filed an objection [Docket No. 740] to the Debtors’ debtor-in-possession (“DIP”) financing motion and cash management motion [Docket Nos. 7 and 5, respectively].  The Committee asserts, “The granting of the joint and several suprpriority claims and related liens in respect of the rolled up…