February 13, 2019 – Total Finance Investment Inc. (“TFI” or the “Company”) and six affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Northern District of Illinois, lead case number 19-03734. The Company, an operator of buy-here, pay-here (“BHPH”) used automobile dealerships located in Illinois and Wisconsin, is represented by…

February 13, 2019 – Plaintiffs David Herdon, Julia Herndon, Gabriell Herndon, Jedidiah Herndon, Estefania Miranda, Gabriella’s Eatery, Chico Renta-Fence and Ponderosa Pest & Weed Control, individually and on behalf of all others similarly situated (“Plaintiffs”) filed a complaint against Debtors (“Defendant”) alleging numerous failings on the part of the Debtors that were responsible for the…

February 13, 2019 – Imerys Talc America, Inc. and two affiliated Debtors (“Imerys” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-10289 [Docket No. 1]. The Company,  the leading talc producer on the American continent, with operations in Montana, Vermont, and Texas,…

October 31, 2018 – Oak Point Partners acquired the remnant assets of the Creditor Trust of Schwab Industries, Inc. n/k/a SII Liquidation Company, et al. Bankruptcy Estates (SII Liquidation) in October 2018. On February 28, 2010, SII Liquidation and its affiliates each filed a voluntary petition under chapter 11 of the Bankruptcy Code in the…

February 12, 2019 – The Court hearing the SQLC Senior Living Center at Corpus Christi (d/b/a Mirador) case authorized (i) the asset purchase agreement dated February 8, 2019 (the ‘Stalking Horse APA’ which is attached to the order) with Ronald E. Jennette, Trustee, as trustee of the Aldergate Trust (the ‘Stalking Horse’), (ii) the Debtor’s…

February 12, 2019 – Further to a hearing held at noon on February 12, 2019, the Court hearing the Elements Behavioral Health case confirmed the Debtors’ Combined Plan and Disclosure Statement. The Court has not yet issued a confirmation order, but a certificate attaching the proposed order was submitted by the Debtors [Docket No. 763]….

February 11, 2019 – The Debtors filed a Joint Plan of Reorganization and a related Disclosure Statement [Docket Nos. 2119 and 2120], together with a motion to requesting approval of the Disclosure Statement and the scheduling of a Plan confirmation hearing [Docket No. 2121]. Summary of the Plan The Disclosure Statement provides the following overview…

February 11, 2019 – The Debtors’ Official Committee of Unsecured Creditors (the “Creditors Committee”) objected [Docket No. 2544] the Debtors’ motion to extend their Plan exclusivity period [Docket No. 2312] by a period of four months. In what may be a sign of things to come, ie a continued fight between the Creditors Committee and…

February 11, 2019 – Ditech Holding Corporation (“Ditech” or the “Company,” f/k/a Walter Investment Management Corp) and 13 affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 19-10412. The Company, an independent servicer and originator of mortgage loans and servicer of reverse…

February 8, 2019 – The Debtors filed a Third Amended Disclosure Statement [Docket No. 758] which attaches a redline showing changes from version filed on February 7, 2019. [Docket Nos. 731]. The amendments reflect changes agreed between the parties during a telephonic hearing held on February 8, 2019 and do not include any changes to…