Northstar Aerospace announced that the Ontario Superior Court of Justice granted an Order on August 2, 2012 extending the stay of proceedings against Northstar through October 31, 2012. Northstar also obtained an amendment to its DIP financing to extend the maturity date through August 20, 2012.

U.S. Bankruptcy Judge Shelley C. Chapman in the U.S. Bankruptcy Court in the Southern District of New York has granted final approval of Patriot Coal’s $802 million debtor-in-possession loan provided by Citigroup, Barclays and Bank of America, a Dow Jones Bankruptcy Review article said.

The Philadelphia Orchestra Association and its subsidiary, the Academy of Music, announced it has officially emerged from Chapter 11 bankruptcy protection, effective July 30, 2012.

Fitch said that a review of U.S. second lien debt recoveries in bankruptcies between 2004-2011 indicates lackluster recovery rates with wide disparities among individual issuers.

RG Steel said in documents in the U.S. Bankruptcy Court in the district of Delaware that it has postponed the auction of its plants in Baltimore and Warren, OH, by a week, to August 7, a Reuters article reported.

U.S. Bankruptcy Judge Christopher Sontchi has approved the order that sets up the bidding procedures for SP Newsprint Holdings’ upcoming auction, a Deal Pipeline article said. Separately, Judge Sontchi also approved to increase SP Newsprint’s DIP loan from $30 million to $60 million.

U.S. Bankruptcy Judge Kevin J. Carey in the U.S. Bankruptcy Court in the District of Delaware approved Prince Sports’ restructuring plan.

Furniture Today reported that U.S. Bankruptcy Judge Douglas Tice in the U.S. Bankruptcy Court in the Eastern District of Virginia has granted approval to covert RoomStore’s bankruptcy case from a Chapter 11 to a Chapter 7 liquidation.

Tribune Co. creditors, including Aurelius Capital Management, are asking U.S. Bankruptcy Judge Kevin Carey in the U.S. Bankruptcy Court for the District of Delaware to “suspend” his approval of the company’s reorganization plan and legal settlement until a “higher court” can review it, a Bloomberg article said.

Northstar Aerospace announced that the asset purchase agreement entered into with Heligear Acquisition (as U.S. purchaser) and Heligear Canada Acquisition (as Canadian purchaser), each affiliates of Wynnchurch Capital, was approved by the bankruptcy courts in both the U.S. and Canada.