Category: Bankruptcy Updates

Court Allows Kodak to Negotiate Terms of Financing

U.S. Bankruptcy Judge Allan L. Gropper of the U.S. Bankruptcy Court for the Southern District of New York is allowing Kodak to lay out the terms of its $830 million interim and exit financing provided by company’s second lien noteholders, a Law360 article reported.

GE Capital Objects to Use of Hilco Funds in Hostess Case

GE Capital, as agent for the pre-petition ABL lenders in the Hostess bankruptcy case, filed a motion in the bankruptcy court objecting to the use of the funds that will result from the hiring of a group of Hilco-related companies as consulting and marketing agents and post-petition lender.

Court Confirms NewPage Chapter 11 Plan

The U.S. Bankruptcy Court for the District of Delaware has confirmed NewPage’s Chapter 11 Plan. The plan was accepted by the overwhelming majority of creditors. The company will now proceed to close on the restructuring transactions contemplated by the plan.

Tiger Group to Liquidate B&R Art Gallery Assets

Tiger Group’s Remarketing Services division is auctioning more than 600 lithographs and prints, as well as over 200 figurines and sculptures in an online auction of the former assets of B&R Art Gallery. The company filed for bankruptcy in October.