Energy Conversion Devices, a provider in materials science and renewable energy technologies, has filed for Chapter 11 in Michigan, and is seeking to sell some of its businesses. The company has retained the investment banking firm Quarton Partners to manage the sale process.
William Lyon Homes, which develops new home communities in California, Arizona and Nevada, announced that its pre-packaged plan of reorganization has been confirmed by the U.S. Bankruptcy Court just 53 days after its plan and related petitions were filed.
Real Mex Restaurants’ board has approved a bid to acquire virtually all assets of the company and its subsidiaries from a newly created entity associated with certain of the company’s noteholders including affiliates of Tennenbaum Capital Partners, Z Capital Partners and J.P. Morgan Investment Management.
Rockland Capital will acquire Beacon Power’s 20-megawatt flywheel energy storage plant in Stephentown, NY, and most of the other assets of the company. Rockland Capital was the successful acquirer among several energy and technology firms that vied for the opportunity following Beacon’s Chapter 11 bankruptcy filing.
TBS International has filed for Chapter 11 protection in New York. The company has obtained $42.8 million in DIP financing provided entirely by the company’s existing lenders, including Bank of America, DVB Bank, Toronto Dominion Bank and Credit Suisse.
American Laser Centers has completed a sale of substantially all of its assets to private equity investment firm Versa Capital Management. The company received court approval of the sale on January 31.
GA Keen Realty Advisors announced that the sale of the former home to H&H Bagels in New York City closed on February 2, 2012 at the price of $11 million. GA Keen was hired to solicit and negotiate the stalking-horse contract and market the property for higher and better offers.