January 3, 2019 – The Court hearing the Sears Holdings case issued an order rejecting the request of bidder and creditor Omega Advisors Inc. (“Omega”) to overturn the sale and lockup of $650mn in medium term inter-company notes (the “MTNs”) issued by Sears Roebuck Acceptance Corp. (SRAC) to Cyrus Capital Partners L.P. (“Cyrus”) [Docket No….

December 31, 2018 – iHeartMedia filed with the U.S. Bankruptcy Court a monthly operating report for November 2018 [Docket No. 2276]. For the month, the Company reported operating income of $107.1mn and a net Income of $104.2mn on $343.7mn in revenue. Operating expenses for the period were $236.6mn, comprised of (i) $90.9mn in direct operating…

January 2, 2019 – The Debtors filed a Court notice announcing that their Joint Prepackaged Chapter 11 Plan of Reorganization had gone effective on December 31, 2018 [Docket No. 264]. The Court had previously confirmed the Plan on December 19, 2018 [Docket No. 242]. On November 6, 2018, Taco Bueno Restaurants, a Tex-Mex themed restaurant…

January 2, 2019 – Union PROSOL-UTIER objected [Docket No. 4592] to the Second Amended Title III Plan of Adjustment for Puerto Rico Sales Tax Financing Corporation (the “COFINA Plan”).   The objection states, “The COFINA Plan is mainly based in the settlement of the Commonwealth-Puerto Rico Sales Tax Financing Corporation dispute proposed by the Financial…

January 2, 2019 – The Debtors filed a Chapter 11 Plan [Docket No. 522] and a related Disclosure Statement [Docket No. 523]. The Debtors also asked the Court to sign off on the adequacy of their Disclosure Statement and approve solicitation and notice procedures in respect of the Plan [Docket No. 524]. There are three…

November 30, 2010  – Oak Point Partners acquired the remnant assets of the Brook Mays Music Company Bankruptcy Estate in November 2010. On July 11, 2006, Brook Mays Music Company and its related entities (“Brook Mays Music”) filed a chapter 11 petition in the United States Bankruptcy Court for the Northern District of Texas, assigned…