October 10, 2018 – The U.S. Trustee assigned to the Zohar III case filed an objection [Docket No. 472] to Lynn Tilton’s motion for a protective order in respect of the financial statements of portfolio companies [Docket No. 454]. The U.S. Trustee asserts, “The Movants must meet their burden of demonstrating that the financial information…

October 10, 2018 – The Court hearing the Westmoreland Coal Company case has approved the Debtors request to obtain interim debtor-in-possession (“DIP”) financing [Docket No. 92].  The order states, “The Debtors are authorized to execute and deliver the DIP Loan Documents and borrow money under the DIP Facility, on an interim basis, up to an…

October 9, 2018 – Color Spot Nurseries filed a further amended Combined Plan of Liquidation & Disclosure Statement [Docket Nos. 410 and 411]. The Court documents explain, “Because the Plan is a liquidating plan, the ‘liquidation value’ in the hypothetical chapter 7 liquidation analysis for purposes of the ‘best interests’ test is substantially similar to…

October 8, 2018 –  Hooper Holmes filed a notice stating that, absent the receipt of any qualified bids other than that of the stalking horse bidder (the “Stalking Horse Bidder”), its planned auction had been cancelled and the Stalking Horse Bidder had been designated the Successful Bidder for the Transferred Assets [Docket No. 184]. The…

October 9, 2018 – Westmoreland Coal Company requested Court approval for debtor-in-possession (“DIP”) financing [Docket No. 17] in respect of which Wilmington Savings Fund Society, FSB is to serve as collateral agent, the “DIP Facility Agent”. The DIP financing motion explains, “The DIP facility and the loan commitment for the WLB Debtors is to enter…

October 9, 2018 – The Court hearing the Mattress Firm case approved on an interim basis the Debtors’ debtor-in-possession (“DIP”) financing [Docket No. 184] 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…

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…