Wednesday, November 29, 2023

Category: Bankruptcy News

SAS AB – Seeks Authority for $500mn Replacement DIP Financing Facility from Castlelake; Proceeds to be Used to Repay $350mn Apollo DIP in Full & See Debtors Through Expected June 2024 Emergence
Bankruptcy Bankruptcy News

SAS AB – Seeks Authority for $500mn Replacement DIP Financing Facility from Castlelake; Proceeds to be Used to Repay $350mn Apollo DIP in Full & See Debtors Through Expected June 2024 Emergence

RSSFeeds CloudNovember 9, 2023

November 4, 2023 – The Debtors requested Court authority to: (i) access $500.0mn under a proposed replacement debtor-in-possession (“DIP”) term loan facility (the “Refinancing DIP Facility”) to be provided by Castlelake* managed affiliate, CL-S Holdings,…

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Anagram Holdings, LLC – Global Leader in Foil Balloons and Party City Subsidiary Files for Bankruptcy with Over $100mn of Debt; Certain Prepetition Lenders Agree to Serve as Stalking Horse; Debtors Line Up $22mn of DIP Financing
Bankruptcy Bankruptcy News

Anagram Holdings, LLC – Global Leader in Foil Balloons and Party City Subsidiary Files for Bankruptcy with Over $100mn of Debt; Certain Prepetition Lenders Agree to Serve as Stalking Horse; Debtors Line Up $22mn of DIP Financing

RSSFeeds CloudNovember 9, 2023

November 8, 2023 – Anagram Holdings, LLC and two affiliated debtors (dba Anagram Balloons; together “Anagram” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas,…

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4E Brands Northamerica LLC – U.S. Trustee, Citing “Foundational Infirmity” of Undisclosed Jones/Freeman Relationship on Integrity of Cases, Seeks Orders that Would Strip Jackson Walker LLP of $13mn in Fees; Draws Judge Isgur Deeper into Controversy
Bankruptcy Bankruptcy News

4E Brands Northamerica LLC – U.S. Trustee, Citing “Foundational Infirmity” of Undisclosed Jones/Freeman Relationship on Integrity of Cases, Seeks Orders that Would Strip Jackson Walker LLP of $13mn in Fees; Draws Judge Isgur Deeper into Controversy

RSSFeeds CloudNovember 4, 2023

November 3, 2023 – Kevin Epstein, the United States Trustee for Region 7 (“U.S. Trustee”), has filed a motion [Docket No. 517] using the 4E Brands Northamerica LLC cases as a vehicle to obtain a…

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Wesco Aircraft Holdings, Inc. – Recently Assigned Judge Isgur Allows 120-Day (First) Extension of Exclusive Plan Filing Period; Debtors and 2027 Noteholder Langur Maize Exchange Fire (If Not Notes) Ahead of 2022 “Uptiering” Adversary Proceeding Trial
Bankruptcy Bankruptcy News

Wesco Aircraft Holdings, Inc. – Recently Assigned Judge Isgur Allows 120-Day (First) Extension of Exclusive Plan Filing Period; Debtors and 2027 Noteholder Langur Maize Exchange Fire (If Not Notes) Ahead of 2022 “Uptiering” Adversary Proceeding Trial

RSSFeeds CloudNovember 4, 2023

November 2, 2023 – The Court (Judge Isgur stepping in for Judge Jones) hearing the Wesco Aircraft Holdings, Inc. cases has extended (for a first time) the periods during which the Debtors have an exclusive…

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Desolation Holdings LLC (Bittrex) – Further to $24mn Settlement with SEC, Former Cryptocurrency Exchange Wins Confirmation of Liquidation Plan; General Unsecureds (Including SEC) to Receive 100% Recoveries; Regulatory Clarity, However, Far from 100%
Bankruptcy Bankruptcy News

Desolation Holdings LLC (Bittrex) – Further to $24mn Settlement with SEC, Former Cryptocurrency Exchange Wins Confirmation of Liquidation Plan; General Unsecureds (Including SEC) to Receive 100% Recoveries; Regulatory Clarity, However, Far from 100%

RSSFeeds CloudNovember 2, 2023

October 31, 2023 – The Court hearing the Desolation Holdings LLC cases issued an order confirming the Debtors’ Amended Plan of Liquidation [Docket No. 517]. Confirmation of the liquidation Plan follows a September 9th court…

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