October 9, 2018 – Toys “R” Us requested Court authority for bidding procedures in respect of the sale of its shared services business (the “Shared Services Business”) [Docket No. 5199]. Central to the bidding procedures motion is the agreement of the Debtors’ Term B Lenders to serve as a stalking horse bidder with a credit…

October 9, 2018 – RMH Franchise Holdings filed a First Amended Joint Plan of Reorganization [Docket No. 618] and related Disclosure Statement [Docket No. 620]. The Disclosure Statement notes, ”The Plan implements a comprehensive restructuring of the Debtors through the issuance of the Plan Sponsor New Common Stock to the Plan Sponsor, which Plan Sponsor…

October 9, 2018 – Westmoreland Coal Company (“Westmoreland”) and 36 affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case number 18-35672. Concurrent with the filing, Westmoreland announced that it had entered into a restructuring support agreement (“RSA”) with holders of its bank and bond…

October 5, 2018 – Mattress Firm requested Court authority (i) to agree and execute an exit commitment letter (the “Exit Commitment Letter”), (ii) to agree to a commitment fee (the “Commitment Fee”) that would be treated as a superpriotity administrative expense and (iii) to file the Exit Commitment Letter under seal [Docket No. 91]. The…

September 28, 2018 – The U.S. Department of Homeland Security (“DHS”), the U.S. Customs and Border Protection (“CBP”) and the U.S. Internal Revenue Service (“IRS”), filed an objection [Docket No. 835] to the Debtors’ Fourth Amended Joint Chapter 11 Plan of Reorganization [Docket No. 726], citing (i) the Debtor’s failure to file its most recent…

October 5, 2018 – American Tire Distributors (“ATD”) notified the Court that it had reached a settlement with holders of a majority of its term loans whereby those holders have agreed to support the restructuring support agreement announced by the Debtors on October 4, 2018 [Docket No. 128]. The settlement notes, “On October 5, 2018,…

October 5, 2018 – Mattress Firm requested Court approval for postpetition, debtor-in-possession (“DIP”) financing [Docket No. 16] in respect of which Barclays Bank PLC is to serve as administrative agent and co-collateral agent (the “ABL DIP Agents”) and Citizens Bank is to serve as a co-collateral agent. The DIP financing motion explains, “The Debtors were…

October 5, 2018 – Toys (Labuan) Holding Limited (hereinafter, “Toys Labuan” or the “Asia JV”) objected [Docket No. 5152] to confirmation of the Second Amended Chapter 11 Plans of the Toys Delaware and Geoffrey Debtors [Docket No. 4542]. Toys Labuan asserts, “The Debtors’ 84.47% indirect equity interest in the Asia JV is by far the…