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…
October 5, 2018 – PlayFusion Limited (“PlayFusion”) filed an objection [Docket No. 5149] to confirmation of the Second Amended Chapter 11 Plans of the Toys Delaware Debtors and Geoffrey Debtors [Docket No. 4542]. PlayFusion explains, “PlayFusion holds an Administrative Claim against Toys Delaware and Geoffrey, and it has ‘opted out’ of the Settlement Agreement, whereby…
October 4, 2018 – National Public Finance Guarantee Corporation, Assured Guaranty Corp., Assured Guaranty Municipal Corp., and Syncora Guarantee Inc. (collectively, the “Movants”), who are holders and/or insurers of bonds issued by the Puerto Rico Electric Power Authority (“PREPA”), filed with the Court a motion to lift the cases’s automatic stay and commence an action…
October 5, 2018 – The U.S. Bankruptcy Court hearing the Brookstone case has approved (i) the Debtors’ sale motion of August 8, 2018, (ii) the Debtors’ asset purchase agreement with BKST Brand Holdings LLC, a subsidiary of Bluestar Alliance LLC, (the “Bluestar APA”) and (iii) the Debtors’ asset purchase agreement with Apex Digital Inc (the…
October 5, 2018 – Mattress Firm and 40 affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 18-12241. Mattress Firm, which is headquartered in Houston, Texas operates as a specialty retailer of mattresses and related products and accessories in the United States. The Company,…
October 1, 2018 – Toys “R” Us notfied the Court of its intention to cancel its scheduled intellectual property auction and its plans for a Toys “R” Us and Babies “R” Us branding company [Docket No. 5058]. The Debtors explain, “On June 28, 2018, the Court entered the Order (I) Amending the U.S. Intellectual Property…
October 4, 2018 – American Tire Distributors requested Court authority to (i) obtain debtor-in-possession (“DIP”) post-petition secured financing and (ii) utilize cash collateral [Docket No. 15]. Bank of America, is the administrative agent and collateral agent for the ABL DIP Loan and DIP FILO Loan, for and on behalf of itself and the lenders party…
October 4, 2018 – The Court hearing the Orianna Health Systems’ case approved the sale of the Debtors’ “Restructuring Portfolio” pursuant to the terms of the Asset Purchase Agreement, dated August 13, 2018 between SC-GA 2018 Partners (the “Purchaser”) and the Debtors [Docket No. 1041]. As previously reported [Docket No. 828], “This Court-approved, competitive…
October 4, 2018 – The U.S Trustee in the RMH Franchise Holdings case filed an objection to the Debtors’ Disclosure Statement [Docket No. 603]. The Trustee asserts, “The U.S. Trustee objects to the Disclosure Statement because it does not provide adequate information concerning the Plan to creditors whose votes will be solicited, as required by…
October 4, 2018 – American Tire Distributors, Inc. and eight affiliated Debtors (collectively, the “Company” or “ATD”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 18-12223. The Company, the largest replacement tire distributor in North America based on dollar amount of wholesale sales and number…
