September 14, 2018 – The Court hearing the Toys “R” Us case approved the Taj Debtors’ sale motion [Docket No. 4671] which establishes (i) bidding procedures for the sale of the Debtors’ indirect 84.87% interest in Toys (Labuan) Holding and the related intellectual property (collectively, the “Asia JV” or “assets”), (ii) a timetable for an…

September 13, 2018 – Hooper  Holmes’ Official Committee of Unsecured Creditors objected [Docket No. 82] to the Debtors’ bid procedures [Docket No. 18] and Stalking Horse APA. The Committee asserts, “The Committee is not opposed to the sale of the Debtors’ Assets through a fair, robust, and value-maximizing sale process….Nevertheless, there remain aspects of the…

September 13, 2018 – Quadrant 4 Systems’ Amended Plan of Liquidation was declared effective [Docket No. 536]. The Plan was previously confirmed by the Court on August 24, 2018 [Docket No. 527]. The Court document notes, “Upon the Effective Date, Amherst Partners, LLC (the “Liquidating Trustee”) was appointed Liquidating Trustee of the Quadrant 4 Liquidating…

September 12, 2018 – iHeartMedia filed a Fourth Amended Joint Chapter 11 Plan of Reorganization [Docket No. 1441] and related Disclosure Statement [Docket No. 1445]. One significant additional disclosure relates to class 8 (“CCOH Due From Claims“) in respect of which the Debtors note projected claims of $1,031,721,306 and a projected recovery of 14.44%.  Additional…

September 12, 2018 – Pacific Drilling filed the final form of its Equity Commitment Agreement with Quantum Pacific (Gibraltar) Limited [Docket No. 582]. The agreement includes a commitment premium (the “Commitment Premium”) of $40 million in new equity which the Debtors believe is necessary to induce support for its comprehensive $1.5 billion capital raising effort….

September 11, 2018 – The Rockport Company filed with the Court a motion to extend the periods during which the Company has an exclusive right to file a Chapter 11 Plan, and solicit acceptances thereof, through and including December 10, 2018 and February 11, 2019, respectively [Docket No. 489]. Absent the requested relief, the Plan…

September 10, 2018 – The Debtors’ Ad Hoc Group of Unsecured Noteholders (“the Ad Hoc Group”) filed “Cleansing Materials” which describe events involving (i) the Debtors and (ii) certain noteholders and lenders; the knowledge of which might keep members of the Ad Hoc Group from trading in the Debtors’ securities. Publication of these events is…