The U.S. Bankruptcy Court confirmed rue21’s First Amended Joint Plan of Reorganization. As previously reported, “Subject to confirmation of the Plan, upon the Effective Date, the Debtors will have reduced approximately $700 million in funded debt from the Debtors’ balance sheet, providing the Debtors with the capital necessary to fund ongoing operations. Upon exiting these…

The U.S. Trustee assigned to the Adeptus Health case filed with the U.S. Bankruptcy Court an objection to the Company’s Second Amended Joint Plan of Reorganization. The Trustee asserts, “The Debtors have agreed to insert language into the Plan that excludes governmental entities and claims from release and exculpation provisions….The Plan contains non-consensual third party…

Triad Guaranty and Wolfgang Holdings filed with the U.S. Bankruptcy Court an Amended Disclosure Statement related to the Company’s Amended Joint Plan of Reorganization. According to documents filed with the Court, “The Plan provides that each Holder of an Allowed Administrative Expense Claim will receive either (i) payment in full in Cash for the unpaid…

Ignite Restaurant Group filed with the U.S. Bankruptcy Court a Joint Amended Chapter 11 Plan and related Disclosure Statement. According to the Disclosure Statement, “The Plan is structured as a joint plan. The Debtors will pursue all reasonably available actions to maximize distributions under the Plan to Holders of Claims and Interests….Pursuant to the Settlement,…

The U.S. Bankruptcy Court approved Peekay Boutiques’ bid procedures in connection with the solicitation and acceptance of higher and better bids set forth in the asset purchase agreement by and among the Debtors and TLA Acquisition and relating to the sale of substantially all of the Debtors’ assets, scheduling a hearing to consider the sale,…

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