MF Global Seeks Approval to Liquidate Assets
Reuters reported that MF Global Holdings will seek court approval of a plan to liquidate its assets and repay creditors.
Reuters reported that MF Global Holdings will seek court approval of a plan to liquidate its assets and repay creditors.
Total commercial bankruptcy filings for Q1/13 decreased 27% from the same period in 2012, according to the American Bankruptcy Institute.
Digital First Media announced the U.S. Bankruptcy Court for the Southern District of New York granted final approval for the sale of the assets of Journal Register Company and its affiliates to 21st CMH Acquisition Co.
Revel AC said it has filed its voluntary prepackaged Chapter 11 cases in the U.S. Bankruptcy Court for the District of New Jersey to facilitate its previously announced financial restructuring.
Tiger Group’s Remarketing Services division will be auctioning assets from the offices of investment managers Aletheia Research & Management, which filed for Chapter 11 protection in November 2012.
Local exchange carrier Otelco filed for bankruptcy protection in Delaware, after losing a contract with Time Warner. Court documents show GE Capital is agent for secured term facility with $162 million currently outstanding.
Kodak announced the closing of its previously announced $848 million financing with members of the steering committee of the second lien noteholders and other holders of Kodak’s senior secured notes.
Bloomberg reported that RDA Holding, the publisher of Reader’s Digest magazine, won final court approval to borrow $105 million from a group of lenders while it reorganizes in bankruptcy protection.
Hostess said it has selected United States Bakery’s offer as the winning bid for the Sweetheart, Eddy’s, Standish Farms and Grandma Emilie’s bread brands. Hostess also said the stalking horse bid submitted by McKee Foods for the Drake’s snack cake brand will be presented for approval to the bankruptcy court.
Yellow pages and Internet advertising firm Dex One, formerly known as R.H. Donnelley, and SuperMedia filed for bankruptcy protection as part of the companies’ merger plans.