The equity owner of Avenue Stores LLC said on Wednesday in a
filing it wants the plus-size apparel retailer's Chapter 11
bankruptcy converted to a Chapter 7 liquidation because the
committee representing unsecured creditors in the case has
"squandered" the opportunity to help resolve the case.
New York ride-hailing company Juno USA LP on Wednesday
sought an order to tap $1 million of a $4.5 million loan from
its parent company to fund a bankruptcy liquidation it began a
day earlier after succumbing to rising costs from local
regulations and lawsuits.
The committee for unsecured creditors of Avenue Stores LLC
has called for converting the plus-size apparel retailer's
Chapter 11 bankruptcy to a Chapter 7 liquidation so an appointed
trustee may potentially press lawsuits against its equity owner.
By Jim Christie
Oil and natural gas producer EP Energy Corp said in court papers
on Tuesday it aims put its plan to slash $3.3 billion in debt to
a vote of stakeholders in January and have the proposal approved
by the judge overseeing its bankruptcy in February.
Purdue Pharma LP on Monday defended its retainers for Davis
Polk & Wardwell, Skadden Arps Slate Meagher & Flom and Wilmer
Cutler Pickering Hale & Dorr over objections by the U.S.
trustee, saying it is not seeking to give the firms a financial
advantage over other administrative creditors in its bankruptcy.
Bankrupt energy producer Sanchez Energy Corp has proposed
hiring Mohsin Meghji as soon as possible as its chief
restructuring officer. The M-III Partners LLC managing partner
served in the same capacity for retailer Sears Holding Corp
during its bankruptcy.
The U.S. government on Friday objected to EP Energy Corp's
motion for an order to obtain up to $314.7 million in financing
to support its bankruptcy reorganization, saying terms for the
loan need to make clear that the energy producer will comply
with its environmental obligations.
The Roman Catholic Diocese of Rochester, New York, on
Thursday filed an adversary complaint in its bankruptcy against
11 of its insurers to try to force payments from them to help
compensate victims of sex abuse by clergy.
PES Holdings LLC, which owns the largest oil refinery on the
East Coast, won court approval on Thursday for $100 million in
financing to support itself in bankruptcy and for its proposed
procedures to sell itself.
The U.S. trustee on Wednesday objected to Purdue Pharma LP's
proposals to retain Davis Polk & Wardwell, Skadden Arps Slate
Meagher & Flom and Wilmer Cutler Pickering Hale & Dorr by
allowing the law firms to hold on to their retainers until the
maker of Oxycontin's bankruptcy ends.