During the “first day” hearing of Brazilian airline GOL Linhas Aéreas Inteligentes’s Chapter 11 bankruptcy proceeding in the U.S. Bankruptcy Court for the Southern District of New York, the court approved the airline’s interim access to $950 million debtor-in-possession financing.
Brazilian airline GOL Linhas Aéreas Inteligentes voluntarily filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of New York. GOL entered the process with a financing commitment for $950 million in new debtor-in-possession financing.
A team of attorneys from Greenberg Traurig represented Chilean renewable energy company Inversiones Latin America Power in its comprehensive financial restructuring implemented through a pre-packaged plan of reorganization in a Chapter 11 bankruptcy proceeding.
Diamond Sports Group, owner of Bally Sports regional sports networks, entered into a restructuring support agreement with its largest creditor groups. The RSA includes a commitment for $450 million of junior secured superpriority debtor-in-possession financing.
Canadian media company Black Press obtained an initial order under the Companies’ Creditors Arrangement Act from the Supreme Court of British Columbia in Vancouver that provides for the approval of debtor-in-possession financing to be provided by Canso Investment Counsel.
Radio content company Audacy entered into a restructuring support agreement to reduce funded debt by $1.6 billion. In connection with the restructuring, Audacy filed for Chapter 11 bankruptcy and secured commitments from its existing lenders for $57 million in debtor-in-possession financing.
SSG Capital Advisors served as the investment banker to EFS Parlin Holdings in the sale of its interconnection rights to TigerGenCo, a developer, owner and operator of power generation and energy infrastructure projects.
Core Scientific, a provider of blockchain computing data centers and software solutions, pre-paid the outstanding balance on a debtor-in-possession financing package provided by B. Riley Financial, the company’s DIP lender.
Commercial Chapter 11 bankruptcy filings increased 72% to 6,569 in 2023 from the previous year’s total of 3,819, according to data provided by Epiq AACER, a provider of U.S. bankruptcy filing data.
Air Methods, a provider of air medical services in the U.S., emerged from Chapter 11 bankruptcy. As a result of the restructuring process, Air Methods reduced its total debt by approximately $1.7 billion.