Bankruptcy & Restructuring News & Analysis — Conductor
FAT Brands Sale Process - April 24th Bid Deadline
A dual-tranche debtor-in-possession facility totaling up to $307.6 million was approved, and court-approved bidding procedures now set an April 24th bid deadline, an April 27th auction, and a May 8th sale hearing.
Axip Energy Completes 363 Sale in 43 Days for $161 Million
The Court entered the sale order on April 6th, approving the transfer of substantially all assets to stalking horse bidder Service Compression for a base purchase price of 161 million dollars, just 43 days after the February 22nd petition date
BlockFills Crypto Brokerage Pursues Dual-Track Restructuring in Delaware
Less than four weeks after filing, the Debtors filed a joint Chapter 11 plan featuring a dual-track toggle mechanism.
Delaware Bankruptcy Court Approves Most but Not All of Yellow Corporation's $1.44 Billion Pension Plan Settlements
The Delaware Bankruptcy Court approved most of Yellow Corporation's $1.44 billion in pension plan withdrawal liability settlements but denied three, including the New York Teamsters' $326.5 million settlement, finding that the liquidated damages component far exceeded the fund's own 10 percent cap.
Court Confirms Bravo Brio Restaurants' Chapter 11 Plan After Estimating $11.9 Million inKind Claim at Zero
The Bankruptcy Court for the Middle District of Florida confirmed Bravo Brio Restaurants' Chapter 11 plan after estimating at $0 the nearly $12 million in claims filed by restaurant financing company inKind, finding that the company's obligations under a Credit Purchase Agreement had been fully satisfied through the redemption of over $7 million in credit.