Daily Bankruptcy & Restructuring Newsletter for April 1, 2015

Committee Still Not On Board With Revel AC Proposed Sale…

Court Docket: Limited Objection of the Official Committee of Unsecured Creditors to the Debtors’ Emergency Motion For Entry of an Order Approving the Sale of the Debtors’ Assets Free and Clear of Liens, Claims, Encumbrances and Interests to Polo North Country Club, Inc.


Wall Street Journal: RadioShack Rescue Deal Clears Bankruptcy Court

Reuters: RadioShack co-branding of stores with Sprint wins court approval

Court Docket: Curious What These Co-Branded RadioShack/Sprint Stores Might Look Like?  Store-Within-a-Store Design Concepts Filed


Bloomberg: Apax, Omers Said to Agree to Hand Canada Publisher to Funds


SEC Filing: Samson Resources Corp. Files Annual Report with Going Concern Warning


SEC Filing: Sabine Oil & Gas Corp. Also Files Annual Report with Going Concern Warning


Public Disclosure: Puerto Rico Electric Power Authority Provides Disclosures on Forbearance Agreement, Business Plan

Taylor Riggs on Twitter: PREPA prices on on getting 15-day extension. not much reaction 7% of 2040


Mergers & Acquisitions: Out of Bankruptcy, Dex Media Show New Signs of Struggle


Facebook: UNITE HERE Local 54 Statement Regarding Carl Icahn


Jones Day: Business Restructuring Review, Volume 14, No. 2


Orrick: Should Underwater Junior Liens Survive Bankruptcy?


Schulte Roth & Zabel: A Test for the Banking Recovery and Resolution Directive


Kathy Bazoian Phelps: March 2015 Ponzi Scheme Roundup

Daily Bankruptcy & Restructuring Newsletter for March 31, 2015

Court Docket: Karmaloop filed its bankruptcy sale motion and the stalking horse bidder is . . . not Kanye West (it is Comvest Capital as agent for the senior lenders)


Bloomberg: RadioShack Judge Extends Hearing With 7,000 Jobs at Stake


Wall Street Journal: Puerto Rico Extends Deadline


Bloomberg: Atlantic City Requests 60-Day Extension of New Jersey Loan

Debtwire: Atlantic City’s luck may have run out


Trepp: Another Grocery Chain Announces Closures; Detroit Metro Mall to Special Servicer


Bloomberg: Harbinger Investor Suit Over Lightsquared Dismissed by Judge


Press Release: SEC Announces Fraud Charges Against Investment Adviser Accused of Concealing Poor Performance of Fund Assets From Investors

SEC Administrative Proceeding: Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 203(e), 203(f) and 203(k) of the Investment Advisers Act of 1940, and Section 9(b) of the Investment Company Act of 1940, and Notice of Hearing (In the Matter of Lynn Tilton; Patriarch Partners, LLC; Patriarch Partners VIII, LLC; Patriarch Partners XIV, LLC; and Patriarch Partners XV, LLC)

Wall Street Journal: SEC Files Fraud Charges Against Lynn Tilton, Patriarch Partners


Federal Reserve Bank of St. Louis: How Long Until “Slack” Is Out of the Labor Market?


Bloomberg: Connacher Lenders Find Advocate in Ex-U.S. Bankruptcy Judge


Brookings Institute & Ben Bernanke: Why are interest rates so low?


IndyStar: Proposed South Bend casino gives competitors jitters


Bloomberg: Bond Traders Fear Oct. 15-Style Volatility Could Repeat


Troutman Sanders: Fannie Mae and Freddie Mac: 2014 Progress Report


Buchanan Ingersoll & Rooney: Third Circuit Finds Settlement Agreement to be Plan Modification


Benesch: Delaware Proposing New Rapid Arbitration Act


Lowenstein Sandler: SEC Finalizes Long-Awaited “Regulation A+” Offering Reforms


Bloomberg BNA: Mid-Market Mergers Abound: Dykema Ties Up With Texas Firm

Daily Bankruptcy & Restructuring Newsletter for March 30, 2015

RadioShack Asset Sale Updates…

Wall Street Journal (from Friday): RadioShack Bidding War Continues With Salus Offer – Court approval of Standard General bid sought; Salus preparing a new offer

Reuters (from Friday): Lender says will make ‘significant’ new bid for RadioShack

Court Docket (from Sunday): Counsel to Salus writes: “Near the end of the hearing on Friday afternoon, I indicated that Salus intended to submit a new superior bid over the weekend. However, as a result of new developments that we only learned after leaving the courtroom, that is no longer the case. We will be prepared to explain Salus’s reasons, as well as why Salus believes that its bid in the auction was higher and better than the Standard General bid, when we reconvene tomorrow morning.”


Wall Street Journal: Lifestyle Lift Seeks Bankruptcy Protection


Reuters: Creditors offer Puerto Rico’s troubled utility $2 billion financing – sources

Bloomberg: Puerto Rico Power Utility May Extend Agreement With Creditors


Wall Street Journal: Exide Wins Bankruptcy-Court Approval for Restructuring Plan


CNBC: Las Vegas casino industry on the mend: Caesars CEO


MiBiz: Picture changing for bankrupt Christian retailer


Wall Street Journal: Some Energy Companies Find the Going Tough – The ranks of financially stressed firms have swelled to a 4½-year high as the sharp drop in oil prices batters oil-and-gas companies


Reuters: Kentucky’s big pension mess


Wall Street Journal: New SkyMall Owner May Relaunch Catalog


San Antonio Express-News: Focus on market share may leave shale producers at margins


Wall Street Journal: Macquarie to Pay $15 Million to Settle SEC Charges Tied to Puda Coal Offering

Lehman Brothers Holdings Inc. Bankruptcy New Filing Alert: Required Bankruptcy Report Regarding Schedules Of Assets And Liabilities, Statement Of Financial Affairs, Monthly Operating Report Or Other Periodic Report

On March 26, 2015, a required bankruptcy report regarding schedules of assets and liabilities, statement of financial affairs, monthly operating report or other periodic report was filed in the bankruptcy case of Lehman Brothers Holdings Inc. and its affiliates.
Continue reading Lehman Brothers Holdings Inc. Bankruptcy New Filing Alert: Required Bankruptcy Report Regarding Schedules Of Assets And Liabilities, Statement Of Financial Affairs, Monthly Operating Report Or Other Periodic Report

Lehman Brothers Holdings Inc. Bankruptcy New Filing Alert: Notice Of The Transfer Or Assignment Of A Claim Against The Debtor

On March 26, 2015, a notice of the transfer or assignment of a claim against the debtor was filed in the bankruptcy case of Lehman Brothers Holdings Inc. and its affiliates.
Continue reading Lehman Brothers Holdings Inc. Bankruptcy New Filing Alert: Notice Of The Transfer Or Assignment Of A Claim Against The Debtor

Lehman Brothers Holdings Inc. Bankruptcy New Filing Alert: Required Bankruptcy Report Regarding Schedules Of Assets And Liabilities, Statement Of Financial Affairs, Monthly Operating Report Or Other Periodic Report

On March 26, 2015, a required bankruptcy report regarding schedules of assets and liabilities, statement of financial affairs, monthly operating report or other periodic report was filed in the bankruptcy case of Lehman Brothers Holdings Inc. and its affiliates.
Continue reading Lehman Brothers Holdings Inc. Bankruptcy New Filing Alert: Required Bankruptcy Report Regarding Schedules Of Assets And Liabilities, Statement Of Financial Affairs, Monthly Operating Report Or Other Periodic Report

Nortel Networks Inc. Bankruptcy New Filing Alert: Application For Interim Approval Of Professional Compensation

On March 26, 2015, an application for interim approval of professional compensation was filed in the bankruptcy case of Nortel Networks Inc. and its affiliates.
Continue reading Nortel Networks Inc. Bankruptcy New Filing Alert: Application For Interim Approval Of Professional Compensation

Nortel Networks Inc. Bankruptcy New Filing Alert: Notice Of The Transfer Or Assignment Of A Claim Against The Debtor

On March 26, 2015, a notice of the transfer or assignment of a claim against the debtor was filed in the bankruptcy case of Nortel Networks Inc. and its affiliates.
Continue reading Nortel Networks Inc. Bankruptcy New Filing Alert: Notice Of The Transfer Or Assignment Of A Claim Against The Debtor

Nortel Networks Inc. Bankruptcy New Filing Alert: Notice Of The Transfer Or Assignment Of A Claim Against The Debtor

On March 26, 2015, a notice of the transfer or assignment of a claim against the debtor was filed in the bankruptcy case of Nortel Networks Inc. and its affiliates.
Continue reading Nortel Networks Inc. Bankruptcy New Filing Alert: Notice Of The Transfer Or Assignment Of A Claim Against The Debtor

Taylor, Bean & Whitaker Mortgage Corp. Bankruptcy New Filing Alert: Response To The Motion For Relief From The Discharge Injunction Or Entry Of A Final Decree

On March 26, 2015, a response to the motion for relief from the discharge injunction or entry of a final decree was filed in the bankruptcy case of Taylor, Bean & Whitaker Mortgage Corp. and its affiliates.
Continue reading Taylor, Bean & Whitaker Mortgage Corp. Bankruptcy New Filing Alert: Response To The Motion For Relief From The Discharge Injunction Or Entry Of A Final Decree

News, Analysis & Bankruptcy Court Filings

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