FTX Trading and its affiliated debtors filed an initial plan of reorganization and related term sheet with the U.S. Bankruptcy Court.
Obra Capital, a portfolio company of RedBird Capital Partners and Reverence Capital Partners, completed a super priority secured debtor-in-possession credit and security agreement for GWG Holdings, a financial services firm based in Dallas.
The U.S. Bankruptcy Court for the Southern District of New York confirmed Garrett Motion’s plan of reorganization, positioning the company to complete the implementation of the plan, which will be led by funds managed by Centerbridge Partners and Oaktree Capital Management.
Garrett Motion obtained approval of stalking horse bidding protections for affiliates of KPS Capital Partners, including a $63 million termination fee and expense reimbursement that is subject to a limit of $21 million.