May 17, 2019 – The Debtors notified [Docket No. 216] the Court hearing the Decor Holdings cases that their Joint Chapter 11 Plan of Reorganization had become effective as of May 17, 2019. The Court had previously confirmed the Debtors’ Plan on May 6, 2019 [Docket No. 180]. On April 15, 2019, Jones Energy, Inc….

May 16, 2019 − Hilltop Energy LLC and one affiliated Debtor (“Hilltop Energy” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-11122. The Debtors, independent energy companies engaged in the development and production of, and exploration for, crude oil and natural gas,…

May 16, 2019 – Julie Hertzberg, a Managing Director with Alvarez & Marsal’s (“A&M”) Restructuring & Turnaround practice and head of A&M’s Case Management Services division, has been named the new President of INSOL International (“INSOL”), a world-wide federation of national associations of accountants and lawyers who specialize in turnaround and insolvency. Ms. Hertzberg is…

May 16, 2019 – The Debtors filed an amended Plan and a related Disclosure Statement [Docket Nos. 3894 and 3895]; and separately filed redlines of each document showing changes from versions filed on April 17, 2019 [Docket No. 3896]. The new documents include greater detail on classes and projected recoveries (see below) and the Disclosure…

May 15, 2019 – The Court hearing the Hexion Holdings cases issued an order [Docket No. 366] authorizing the Debtors to assume the April 1, 2019 Restructuring Support Agreement (the “RSA”) amongst the Debtors and certain consenting creditors and equity sponsors [Docket No.198]. In a press release announcing the Debtors Chapter 11 filing, Hexion advised…

May 15, 2019 – The Debtors notified the Court that the hearing scheduled to approve the Debtors' Disclosure Statement had been adjourned from May 16, 2019 until May 30, 2019 [Docket No. 775]. The last minute, and not insubstantial, delay follows on the filing of an objection by SunTrust Bank (“SunTrust” as administrative agent in…

May 15, 2019 − Privately-held EdgeMarc Energy Holdings LLC and 7 affiliated Debtors (“EdgeMarc” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-11104. The Company, a natural gas exploration and production company headquartered in Canonsburg, Pennsylvania, is represented by Adam G. Landis…

May 13, 2019 – The Court hearing the PHI cases issued an order (i) approving the appointment of Judge Robert L. Jones as mediator and (ii) scheduling mediation amongst the Debtors, the Debtors' Official Committee of Unsecured Creditors (the "Committee"), the Debtors' Official Committee of Equity Security Holders (the "Equity Committee") and secured lender Thirty…

May 10, 2019 − Cloud Peak Energy and 27 affiliated Debtors (OTC:CLDP, "Cloud Peak" or the "Debtors") filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-11047. The Company, one of the largest U.S. coal producers, is represented by Daniel J. DeFranceschi of Richards Layton &…

May 11, 2019 − Bristow Group Inc.. (NYSE: BRS) and seven affiliated Debtors (together, “Bristow,” “BGI” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Sothern District of Texas, lead case number 19-32713. The Company, a leading provider of industrial aviation services offering helicopter transportation, search and rescue (SAR)…