Revel Receives Court Approval for $250MM DIP Financing
Revel AC announced that it received final bankruptcy court approval for its $250 million DIP financing to help support and maintain its day-to-day operations throughout its restructuring.
Revel AC announced that it received final bankruptcy court approval for its $250 million DIP financing to help support and maintain its day-to-day operations throughout its restructuring.
FoxBusiness reported that Kodak agreed to sell some of its Document Imaging assets to Japan-based Brother Industries. The article said that the cash deal is valued at $210 million.
Commonwealth Biotechnologies said that its Plan of Reorganization from Chapter 11 bankruptcy proceedings has become effective April 15, 2013.
The Scooter Store said it will move to transform its business model through the sale of substantially all of its assets under §363 of the U.S. Bankruptcy Code. It commenced a voluntary Chapter 11 case.
Powerwave Technologies said it entered into a $5 million DIP credit agreement with P-Wave Holdings, an affiliate of The Cores Group, to support the sales process the company is undertaking.
Reuters reported that although the Tribune emerged from bankruptcy, it continues to battle with attorneys representing noteholders in the bankruptcy.
The U.S. Bankruptcy Court granted approval for Rotech Healthcare’s first-day motions, which were designed to ensure normal daily operations during the Chapter 11 debt restructuring.
Bloomberg reported that Rotech Healthcare filed for bankruptcy with Silver Point Finance agreeing to loan the company as much as $30 million to help finance the bankruptcy.
The Wall Street Journal reported that with the number of distressed businesses in Europe soaring, the continent’s bankruptcy laws are getting a makeover. And the model is Chapter 11 of the U.S. Bankruptcy Code.
Reuters reported that MF Global Holdings will seek court approval of a plan to liquidate its assets and repay creditors.