Avadim Health agreed to sell its assets and filed voluntary petitions for protection under Chapter 11. Hayfin Capital Management, Avadim’s existing lender, entered into a binding stalking horse purchase agreement and committed to provide certain debtor-in-possession financing.
CarbonLite Holdings retained Force 10 Partners to lead its restructuring effort following its voluntary bankruptcy filing on March 8. Force 10 co-founder Brian Weiss will serve as chief restructuring officer.
MobiTV voluntarily filed for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. MobiTV intends to use these proceedings to implement a restructuring process. FTI Consulting is serving as the company’s financial advisor.
Bank of America and Wells Fargo provided Northwest Hardwoods with an asset-based loan during the company’s financial restructuring process and emergence from Chapter 11.
Pachulski Stang Ziehl & Jones announced that bankruptcy and restructuring attorneys Isaac Pachulski, Jeffrey Davidson and Gabriel Glazer joined the firm. Their experience includes restructuring billions of dollars of debt.
Given the long list of costly, contentious and ultimately unsuccessful retail bankruptcies, much attention has been given to the particulars surrounding Filene’s Basement’s Chapter 11 proceedings that culminated with a §363 sale to Syms Corp. What follows is a behind-the-scenes look at these events that bucked a trend in more ways than one.