The U.S. Bankruptcy Court issued a final order approving TerraVia Holdings’ motion to obtain post-petition secured financing. As previously reported, “The Debtors seek entry of interim and final orders: (a) authorizing the Borrower to enter into…the new money debtor-in-possession financing facility (the ‘DIP Facility’) in the aggregate principal amount of $10,000,000 to be funded by…

First NBC Bank Holding’s official committee of unsecured creditors filed with the U.S. Bankruptcy Court an objection to the Debtor’s motion for an extension of the exclusivity period and time within which the Debtor’s Plan may solicit Plan acceptances. The objection explains, “The Debtor provides only two arguments for cause – first, that the Debtor…

The U.S. Bankruptcy Court entered an order confirming Angelica’s Third Amended Joint Chapter 11 Plan. Substantially all of Angelica’s assets were sold during the Company’s Chapter 11 proceeding, with sale proceedings used to satisfy various claims. The privately-held medical laundry and linen management services’ provider, n/k/a RFID Corporation, filed for Chapter 11 protection on April…

On August 28, 2017, S&P Global Ratings lowered its long-term corporate credit rating on MIE Holdings Corporation to SD from CC and its senior unsecured notes rating to D from CC. According to S&P Global, the ratings were lowered because MIE completed an exchange offer for its senior unsecured notes due 2018 and 2019. The…

According to recent press and people familiar with the matter, The Bon-Ton Stores, Inc. is hiring advisers to help it turn around its business and slash its debtload, as it struggles to cope with the sector’s downturn. Bon-Ton has tapped advisory firm AlixPartners LLP to provide operational advice on its turnaround efforts, and is also…

Privately-held Lehman Brothers Holdings’ (LBHI) subsidiaries Lehman Brothers U.K. Holdings (Delaware) (LUK) and Lehman Pass-Through Securities (LPTSI) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 17-12442. The Companies, whose parent LBHI operated as an investment banker prior to its March 2012 liquidation, is…

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