Young Conaway Stargatt & Taylor Archives

Virgin Orbit Files Plan to Resolve Outstanding Claim and Interests

Virgin Orbit Holdings and its U.S. subsidiaries filed a plan, which provides for, among other things, resolution of outstanding claims and interests and a related disclosure statement in the U.S. Bankruptcy Court for the District of Delaware.

Virgin Orbit Commences Voluntary Chapter 11 Proceeding

Virgin Orbit Holdings and its U.S. subsidiaries, a responsive space launch provider, commenced a voluntary proceeding under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court in the District of Delaware in order to effectuate a sale of the business.

Quanergy to Facilitate Sale of Business Through Voluntary Chapter 11 Process

Quanergy Systems initiated an orderly sale process for its business. To facilitate the sale and maximize value, the company filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.

Winc Obtains Court Approval of First Day Motions After Filing Chapter 11 Petitions

Winc and its subsidiaries initiated voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware. The Bankruptcy Court granted the company interim approval to enter into a debtor-in-possession facility comprising a $5 million term loan.

AeroCentury Enters Stalking Horse Agreement with Drake Asset Management

AeroCentury and certain of its subsidiaries commenced a voluntary case under Chapter 11 of the United States Bankruptcy Code. AeroCentury also entered into a stalking horse agreement with its sole secured lender, Drake Asset Management.

BofA and Wells Provide ABL to Northwest Hardwoods in Restructuring Process

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.

Huron Advises Northwest Hardwoods in Restructuring; BofA and Wells to Refinance ABL

Huron Consulting Group is serving as financial advisor for Northwest Hardwoods, which filed for relief under Chapter 11 of the Bankruptcy Code. Bank of America and Wells Fargo will refinance an existing ABL facility as part of the company’s financial restructuring.

FTI Consulting to Provide Financial Advisory Services to Pace Industries

FTI Consulting will serve as financial advisor to Pace Industries, which reached an agreement with its lenders on the terms of a financial restructuring plan and initiated a voluntary prepackaged Chapter 11 process in the U.S. Bankruptcy Court for the District of Delaware.

Philadelphia Credit and Restructuring Summit: Energized by New Location, Women Exec Panel

The Philadelphia Credit and Restructuring Summit celebrated its 10th anniversary by moving to a new location and adding a panel of women executives to the lineup. Lenders, turnaround professionals and bankruptcy judges enjoyed a round of Judicial Jeopardy before discussing serious matters ranging from possible federal tariffs on foreign goods to the ramifications of the Supreme Court’s ruling on structured dismissals in bankruptcy.

Morgan to Be Inducted as Fellow of the ACB

Pauline K. Morgan, a partner in Young Conaway Stargatt & Taylor’s Bankruptcy and Corporate Restructuring section, will be inducted as a Fellow of the American College of Bankruptcy.

January 5, 2015 Young Conaway Stargatt & Taylor ABF Journal

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