Category: Bankruptcy Updates

Washington Prime Group Completes Financial Restructuring, Reduces Debt by Nearly $1B

Washington Prime Group emerged from the Chapter 11 process, signifying the completion of the company’s financial restructuring and the implementation of its plan of reorganization. The company emerged from bankruptcy with its debt reduced by nearly $1 billion.

Teligent Files Chapter 11, Names Portage Point’s Kasparov Chief Restructuring Officer

Teligent filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District. In connection with the filing, Teligent appointed Vladimir Kasparov of Portage Point Partners to the role of chief restructuring officer.

Apollo-Led Group to Become Majority Owners of Restructured Riverbed Technology

Riverbed Technology entered into a restructuring support agreement regarding the terms of a financial restructuring. Upon consummation of the recapitalization, a group of institutional investors led by Apollo Global Management will become the majority owners of the company.

Glass Mountain Enters Restructuring Support Agreement

Glass Mountain Pipeline Holdings, with the support of its equity sponsor, GEPIF Glass Mountain Pipeline, and lenders holding 66.97% of the company’s revolving and term loans, entered into a restructuring support agreement that provides for the elimination of more than $230 million in debt.

Hilco Global Mexico Appointed Primary Servicer of Mexican Payroll Company

Hilco Terracota, a subsidiary of Hilco Global and Hilco Global Mexico, was appointed as the primary servicer of one of the major payroll loan companies in Mexico and Colombia. The company has recently filed for Chapter 11 bankruptcy in the U.S. and Mexico and is undergoing a major restructuring process.