May 9, 2019 – The Court hearing the Specialty Retail Shops Holding Corp (Shopko) case issued an order approving the sale of the Debtors' Visa/Mastercard class action claim to Halcyon Loan Trading Fund LLC (the “Purchaser”) for $2.2mn [Docket No. 1276]. The Visa/Mastercard class action plaintiffs allege that Visa, MasterCard, and major credit card issuers…

May 8, 2019 – Privately-held Triangle Petroleum Corporation and 3 affiliated DebtorsFN1 (“TPC” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-11025. Denver-based TPC, an independent energy company with a strategic focus in the Williston Basin of North Dakota, is represented by…

May 7, 2019  − Sure Winner Foods (“SWF” or the “Debtor”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Maine, lead case number 19-20226. The Company, a leading direct-store-delivery ("DSD") distributor of frozen food and ice cream in the Northeast, is represented by Robert J. Keach of Bernstein Shur…

May 7, 2019 – The Court hearing the Things Remembered (now RMBR Liquidation, Inc.) cases issued an order (ii) approving the Debtors’ Disclosure Statement on an interim basis, (ii) authorizing the Debtors’ proposed Plan solicitation and voting procedures and (iii) scheduling a June 12, 2019 hearing at which the Court is scheduled to approve the…

May 7, 2019 – UMB Bank, N.A., as indenture trustee in respect of the Debtors’ bonds issued in November 2017 ($36.7mn outstanding as at Petition date), and Lapis Advisers, LP, as agent under the Debtors’ Credit Agreement ($10.5mn outstanding, UMBA Bank and Lapis Advisers together, the “Lenders” and holding approximately two-thirds of the Debtors’ nearly…

May 6, 2019 − Privately-held Hospital Acquisition LLC and 25 affiliated Debtors (trading as Lifecare Health Partners, "LifeCare" or the "Debtors") filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-10998. The Company, leading operator of long-term acute care (“LTAC”) hospitals in the United States ,…

May 3, 2019 – The Debtors notified the Court hearing the Sungard Availability Services Capital cases that their prepackaged Chapter 11 Plan had become effective as from May 3, 2019 [Docket No. 50]. The Court had previously confirmed [Docket No. 46] the Plan on May 2, 2019, only 22.5 [record breaking] hours after the Debtors…

May 2, 2019 – Just after 9pm on May 1st (21:04:47 to be exact), the Court hearing the Sungard Availability Services Capital cases acknowledged receipt of the lead Debtor's lead Chapter 11 Petition. Just 20.5 hours later (17:31:42) the Court's confirmation order was filed. For the second time in four months, Judge Drain of the…

May 1, 2019 – The Debtors requested Court authority to (i) access $100mn in debtor-in-possession (“DIP”) financing, $50mn on an interim basis, and (ii) use of cash collateral [Docket No. 5]. The motion also provides detail as to the Debtors' anticipated exit financing arrangements, with all amounts borrowed under the requested DIP financing to be…