In ‘363’ Sales, Three Courts Say Purdue Doesn’t Bar Injunctions Protecting Buyers | ABI: For a sale ‘free and clear,’ nondebtors can be enjoined from suing.
Wildfire spurs outlook cut for Pasadena, Glendale utilities | Bond Buyer: Two public electric utilities in Los Angeles County received negative outlooks from S&P citing costs, liabilities, and litigation stemming from wildfires.
PREPA mediators express hope for progress; deadline extended: U.S. District Court Judge Laura Taylor Swain extended the bankruptcy's litigation stay to March 24 as mediators expressed hope about progress on a deal.
Franchise Group's Unsecured Creditors Seek to Fight Lender Liens: Franchise Group Inc.'s unsecured creditors asked for authority to file a lawsuit challenging the perfection of liens on certain of the company’s assets securing more than $125 million worth of pre-bankruptcy loan debt.
Latham Watkins Represents The Container Store in Emergence From Chapter 11: The company achieved the objectives it set for this process, including restructuring approximately US$243 million in long-term debt obligations, accessing US$40 million in new financing through a US$115 million DIP-to-exit term loan credit facility, and refinancing and upsizing its asset-backed lending facility to add US$40 million in additional capacity
S&C Awarded Law360 ‘Practice Group of the Year’ for Bankruptcy | Sullivan & Cromwell LLP: The group’s recent accomplishments include guiding FTX Trading through its landmark bankruptcy proceedings, which culminated in its emergence from Chapter 11 in January, just over two years after its collapse and bankruptcy filing; managing the Chapter 11 proceedings of SVB Financial Group, which arose from the third largest bank failure in U.S. history; and advising Kidde-Fenwal in the first-ever Chapter 11 case aiming to resolve national mass tort liability related to “forever chemicals.”
Tupperware Lenders Oppose Call for Retiree Committee After Sale: A group of Tupperware Brands Corp. lenders contested the company’s request to form an official committee of retired employees, deeming it “wholly unnecessary” as most assets have already been sold in the bankruptcy process.
