Bankruptcy Updates Archives - Page 2 of 165

Tupperware Brands Finalizes Debt Restructuring Agreement

Tupperware Brands finalized an agreement with its lenders to restructure its existing debt obligations, improving the company’s overall financial position by amending certain credit obligations and extending the maturity of certain debt facilities to allow it to continue with its turnaround efforts.

August 4, 2023 Alvarez & Marsal | Mariela Matute | Moelis & Company | Tupperware Brands Ian Koplin

Commercial Chapter 11 Bankruptcy Filings Increased 71% Y/Y in July

There were 362 commercial Chapter 11 filings registered in July 2023, an increase of 71% from the 212 filings registered in July 2022, according to data provided by Epiq Bankruptcy.

August 3, 2023 ABI | Amy Quackenboss | Epiq Bankruptcy | Gregg Morin Ian Koplin

FTX Trading and Debtors File Initial Plan of Reorganization and Term Sheet

FTX Trading and its affiliated debtors filed an initial plan of reorganization and related term sheet with the U.S. Bankruptcy Court.

Aleafia Health Obtains Creditor Protection to Pursue Restructuring and Sale Process

The Ontario Superior Court of Justice granted an order for Canadian cannabis company Aleafia Health to restructure its business. In connection with the order, Aleafia executed a term sheet for debtor-in-possession financing with Red White & Bloom Brands.

July 26, 2023 Aleafia Health | KSV Restructuring | Red White & Bloom Brands Ian Koplin

Equilibrium to Provide $30MM in DIP Financing to AppHarvest

AppHarvest filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. The company also obtained a commitment from Equilibrium for $30 million in debtor-in-possession financing.

Novan Enters Asset Purchase Agreement with Ligand, Files for Chapter 11 Bankruptcy

Medical dermatology company Novan entered into a stalking horse asset purchase agreement with Ligand Pharmaceuticals prior to filing for Chapter 11 bankruptcy. Novan also entered into a secured DIP credit facility with Ligand in the principal amount of $15 million.

ViewRay Files Voluntary Chapter 11 Petitions

ViewRay and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware.

July 18, 2023 B. Riley Securities | Faegre Drinker Biddle & Reath | Paul Ziegler | Viewray Ian Koplin

QualTek Services Emerges from Chapter 11

QualTek Services, an infrastructure services provider, emerged from Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas following the confirmation of its plan of reorganization on June 30.

Diebold Nixdorf Plan of Reorganization Confirmed

The U.S. Bankruptcy Court in the Southern District of Texas has confirmed Diebold Nixdorf’s plan of reorganization related to its comprehensive debt restructuring.

July 17, 2023 Diebold Nixdorf | Octavio Marquez Ian Koplin

Monster Enters into Asset Purchase Agreement for Bang Energy

Monster Beverage and Vital Pharmaceuticals (which, together with certain of its debtor affiliates, does business as Bang Energy and VPX Sports) entered into an asset purchase agreement under which a subsidiary of Monster would acquire substantially all of Bang Energy’s assets, including a beverage production facility located in Phoenix.

Category: Bankruptcy Updates