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Week Ahead in Bankruptcy: Oct. 25, 2021

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(Reuters) - Here is a look at some upcoming events of interest to the bankruptcy law community. Unless otherwise noted, all times are local, and court appearances are virtual due to the COVID-19 pandemic.

Monday, Oct. 25

2 p.m. – USA Gymnastics will hold a hearing, postponed from Oct. 19, on its request to begin soliciting creditor votes for its proposed reorganization plan. The organization proposed a $425 million settlement to athletes who were sexually abused by former team doctor Larry Nassar.

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The case is In re USA Gymnastics, U.S. Bankruptcy Court, Southern District of Indiana, No. 18-09108.

For USA Gymnastics: Catherine Steege of Jenner & Block.

Tuesday, Oct. 26

10 a.m. – Brazilian airline Avianca will seek approval of its proposed reorganization plan, which rests on a deal with lenders and noteholders to take over the majority of the company. The plan would reduce Avianca’s debt by $3 billion.

The case is In re Avianca Holdings SA, U.S. Bankruptcy Court, Southern District of New York, No. 20-11133.

For Avianca: Dennis Dunne of Milbank.

11 a.m. – Offshore driller Seadrill Ltd will seek approval of its proposed reorganization plan, which aims to reduce the company’s debt by $4.9 billion and raise $350 million in new financing. Senior lenders are in line to take over most of Seadrill’s equity.

The case is In re Seadrill Ltd, U.S. Bankruptcy Court, Southern District of Texas, No. 21-30427.

For Seadrill: Anup Sathy of Kirkland & Ellis.

Wednesday, Oct. 27

10 a.m. – A.B.C. Carpet Co. Inc., the high-end furniture retailer, will hold a hearing on the sale of its assets to the highest bidder at an auction scheduled for Oct. 22. The company has lined up a $15.3 million lead bid from 888 Capital, an entity controlled by Regal Investments.

The case is In re A.B.C. Carpet Co. Inc., U.S. Bankruptcy Court, Southern District of New York, No. 21-11591.

For ABC: Oscar Pinkas of Greenberg Traurig.

Thursday, Oct. 28

11 a.m. – LATAM Airlines Group SA will seek approval to access $750 million in a secondary tranche of financing to fund operations during its bankruptcy process.

The case is In re LATAM Airlines Group SA, U.S. Bankruptcy Court, Southern District of New York, No. 20-11254.

For LATAM: Richard Cooper of Cleary Gottlieb Steen & Hamilton.

Friday, Oct. 29

10 a.m. – U.S. Bankruptcy Judge John Dorsey will hold a pretrial conference ahead of a Nov. 4 hearing on Mallinckrodt's proposed reorganization plan. Under the plan, the pharmaceutical company would reduce its overall debt by about $1.3 billion and set up a trust for opioid claimants worth approximately $1.7 billion.

The case is In re Mallinckrodt Plc, U.S. Bankruptcy Court, District of Delaware, No. 20-12522.

For Mallinckrodt: George Davis of Latham & Watkins.

Know of an event that could be included in Week Ahead in Bankruptcy? Contact Maria Chutchian at maria.chutchian@thomsonreuters.com

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Our Standards: The Thomson Reuters Trust Principles.

Maria Chutchian reports on corporate bankruptcies and restructurings. She can be reached at maria.chutchian@thomsonreuters.com.

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