The American Bankruptcy Institute will host four webinars during the next week with a focus on the Coronavirus Aid, Relief, and Economic Security Act and the Small Business Reorganization Act of 2019. The first webinar will take place on April 3.
Alvarez & Marsal is acting as restructuring advisor and Jeffrey S. Stein of Stein Advisors is acting as chief restructuring officer for Whiting Petroleum, which commenced voluntary Chapter 11 bankruptcy proceedings.
Alvarez & Marsal served as financial advisor to Dean Foods on its sale of assets to Dairy Farms of America, Prairie Farms Dairy, Mana Saves McArthur, Producers Dairy Foods, Harmoni and Industrial Realty Group.
FTI Consulting is serving as restructuring advisor and Guggenheim Securities is serving as financial advisor to OneWeb, which voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York.
Equify Financial and Wilks Brothers will provide $15 million debtor-in-possession financing to CARBO Ceramics as part of a debt-for-equity exchange pursuant to a plan of reorganization in a Chapter 11 bankruptcy case.
The stimulus package recently passed in the U.S. Senate features several bankruptcy provisions, including an increase in the eligibility threshold to file under subchapter V of chapter 11, according to a press release from the American Bankruptcy Institute.
Greenberg Traurig will rejoin forces with Bruce Zirinsky, its former co-chair of the restructuring and bankruptcy practice, and subsequently founder of Zirinsky Law Partners, a boutique law and advisory firm.
The American Bankruptcy Institute announced that it will cancel its annual spring meeting. The meeting was scheduled for April 23-25 in Washington, D.C, but will not go on as “conditions have worsened exponentially.”
Total commercial chapter 11 filings in February 2020 decreased 20% over the same period last year, according to Epiq Systems, but Amy Quackenboss, executive director of the American Bankruptcy Institute, projects a future increase in filings due to the COVID-19 pandemic.