Carl Marks Advisors announced the promotion of Brian Williams to Partner. With a primary focus in the energy industry, Williams has 20 years of strategic advisory, operating and investment banking experience, including executive management, mergers and acquisitions, private capital raises, restructuring and principal investing. Prior to joining Carl Marks Advisors, Williams served as C.F.O., Co-Founder…

Quadrant 4 Systems filed with the U.S. Bankruptcy Court a motion for entry of an order authorizing the Debtor to pay retention bonuses to four key non-insider employees and granting shortened notice in connection therewith. The motion explains, “By this Motion, the Debtor requests the entry of an order authorizing it to pay Retention Bonuses…

The U.S. Bankruptcy Court approved CGG Holding’s Disclosure Statement and scheduled an October 10, 2017 hearing to consider the Revised Joint Chapter 11 Plan of Reorganization. According to the Disclosure Statement, “The Plan is part of a comprehensive reorganization of the Company in France and the United States through plans approved (i) in the Safeguard…

Energy Future Holdings (EFH) filed with the U.S. Bankruptcy Court a motion for an order authorizing the EFH/Energy Future Intermediate Holdings (EFIH) Debtors to consent to Oncor’s entry into the Sharyland merger agreement. The motion notes, “On July 21, 2017, Oncor and Sharyland signed an agreement that provides for an exchange by Sharyland and its…

The U.S. Bankruptcy Court issued an interim order approving Perfumania Holdings’ post-petition financing motion. As previously reported, “The agent and D.I.P. lender is Wells Fargo. The Ratification Agreement provides for (i) a senior secured debtor-in-possession asset based revolving facility in an aggregate principal amount of $83,750,000 (the ‘DIP Facility’) to refinance the Debtors’ prepetition revolving…

Jennifer Hammer, Director of Insurance of the State of Illinois (the statutory and Court-affirmed rehabilitator of Triad Guaranty Insurance Corporation [TGIC] and Triad Guaranty Assurance Corporation [TGAC]) filed with the U.S. Bankruptcy Court an objection to the Company’s Disclosure Statement. The objection asserts, “The Motion should be denied since the Disclosure Statement does not contain…

Perfumania Holdings filed with the U.S. Bankruptcy Court a motion for interim and final orders authorizing the Debtors to assume an agency agreement; to sell certain assets through store closing sales; authorizing customary bonuses to employees at closing business locations; waiving compliance with contractual store closing sale restrictions and authorizing the Debtors to abandon certain…

Quadrant 4 Systems’ official committee of unsecured creditors filed with the U.S. Bankruptcy Court an objection to the Company’s post-petition financing motion. The committee asserts, “The Proposed Final Order is not a proper exercise of the Debtor’s business judgment. The Debtor has no meaningful leverage in its negotiations with its primary lender, BMO Harris Bank,…

The Commonwealth of Pennsylvania, Department of Revenue filed with the U.S. Bankruptcy Court an objection to Gymboree’s First Amended Joint Plan of Reorganization. The objection asserts, “While the Debtors’ Plan provides for payment of Allowed Priority Tax Claims in a manner consistent with section 1129(a)(9)(C) of the Bankruptcy Code, the Plan does not set forth…

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