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 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 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 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 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.
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 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 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.
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.
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.