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.
The number of new coronavirus cases in mainland China fell below 2,000 on Tuesday for the first time since January but the virus remains far from contained, as its economic impact spreads globally with South Korea announcing an economic emergency.