U.S. Bankruptcy Judge Martin Glenn has granted permission for a settlement between Dewey & LeBoeuf’s former partners and the law firm’s estate, valued at $71.5 million, a Reuters’ article reported.
Hostess Brands announced that the company and its five subsidiaries have filed their Joint Plan of Reorganization and related Disclosure Statement with the U.S. Bankruptcy Court for the Southern District of New York.
Vertis Holdings has filed for Chapter 11. Vertis has obtained $150 million in DIP financing from a group of lenders led by GE Capital, Restructuring Finance. In addition, Quad/Graphics will acquire Vertis
American Airlines filed a motion with the bankruptcy court requesting an order authorizing $1.5 billion of new postposition financing and using the proceeds to repay existing prepetition obligations secured by aircraft.
Total commercial bankruptcy filings during the first nine months of the year were 44,750, representing a 22% decrease from the 57,613 filings during the same period in 2011, according to data provided by Epiq Systems.
U.S. Bankruptcy Judge Stuart Bernstein in the U.S. Bankruptcy Court in the Southern District of New York has granted final approval of Journal Register
Contec Holdings announced that the U.S. Bankruptcy Court for the District of Delaware confirmed the company’s Plan of Reorganization. The company was able to reduce its debt by over $250 million and obtain an incremental $25 million in financing.
Bakers Footwear Group is restructuring its business operations through a Chapter 11 reorganization process. The company requested court approval for a proposed $22 million credit agreement with Crystal Financial, and is asking for $6 million on an interim basis.
Dynegy completed its Chapter 11 reorganization and emerged from bankruptcy. The company will have approximately $800 million in liquidity in the form of cash and letter of credit capacity available to support its post emergence operations and commercial activities.