Upcoming Committee Formation Meeting:  Friday, January 27, 2017, 10:00 am

Case Name: 17-10111 (MFW)

Location: Office of the US Trustee 844 King Street, Room 3209 Wilmington, DE 19801

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here.  See the petitionFirst Day Declaration, and claims agent for further information.

Contact Norman L. Pernick and  Nicholas J. Brannick for more information.

Upcoming Committee Formation Meeting:  Tuesday, January 24, 2017, 10:00 am

Case Name: 17-10124 (KJC)

Location:  Sheraton Suites 422 Delaware Avenue Wilmington, DE 19801

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here.  Learn more from the First Day Declaration, the Motion for Sale, and the proposed claims agent.

Contact Norman L. Pernick and  Nicholas J. Brannick for more information.

The foreign representative of Metinvest B.V., the parent company of a vertically integrated group of steel and mining companies headquartered in Ukraine, has commenced a case (Case No. 17- 10130) under Chapter 15 of the Bankruptcy Code by filing a petition with the U.S. Bankruptcy Court for the District of Delaware.  The Honorable Laurie Selber Silverstein will preside over the case.  The filing is in furtherance of a scheme of arrangement pursuant to Part 26 of the Companies Act 2006 pending before The High Court of Justice, Chancery Division, Companies Court of England and Wales.  The memorandum in support of the petition and the declaration of the foreign representative are provided.

Learn further by reviewing the January 13th, 2016 filing and June 8th, 2016 filing as well.

 

Contact Norman L. Pernick and Nicholas J. Brannick for more information.

Limited Stores Company, LLC, along with two of its affiliates, filed voluntary petitions for Chapter 11 relief in the Bankruptcy Court for the District of Delaware earlier this morning (Case No. 17-10124-KJC).  The Debtors are a multi-channel retailing company operating under the trade name “The Limited” and specialize in the sale of women’s clothing.  According to the First Day Declaration, the Debtors, like a number of retailers in recent years, have faced significant issues such as declining mall traffic and sales because of increased consumer preference for internet based retail.  The Debtors enter bankruptcy with dual goals: the orderly wind down of their brick and mortar business and the sale of their intellectual property and e-commerce assets.  The Debtors ran a competitive sale process pre-petition and have filed a Motion for Sale of their IP and e-commerce assets to Limited IP Acquisition LLC.  Donlin, Recano & Company, Inc. is the proposed claims agent.  The cases have been assigned to the Honorable Kevin J. Carey.

Contact Norman L. Pernick and Nicholas J. Brannick for more information.

California-based ATopTech, Inc., a developer of technology and manufacturing software solutions for engineers in the physical design of integrated circuits, has filed a voluntary petition for chapter 11 bankruptcy relief in the United States Bankruptcy Court for the District of Delaware (Case No. 17-10111).  The petition lists between $10 and $50 million in both assets and liabilities.  According to the First Day Declaration, the Debtor enters Chapter 11 with a stalking horse bidder and intends to sell its business pursuant to section 363 of the Bankruptcy Code at an auction to take place in mid-March of 2017.  The case has been assigned to the Honorable Mary F. Walrath.  Epiq is the proposed claims agent. The company has issued a press release that can be found here.

Contact Norman L. Pernick and  Nicholas J. Brannick for more information.

Upcoming Committee Formation Meeting: Thursday, January 18, 2017,  10:00 am

Case Name: 17-10064 (KG)

Location:  The Delaware Bar Association 405 N. King St. Wilmington, DE 19801

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here.  See the petitionproposed claims agent Epiq, and the company issued press release for further information.

Contact Norman L. Pernick and  Nicholas J. Brannick for more information.

Homer City Generation, L.P., a coal-fired merchant power plant based in Indiana County, Pennsylvania, has filed a voluntary petition for chapter 11 bankruptcy relief in the United States Bankruptcy Court for the District of Delaware (Case No. 17-10086).  The petition lists between $1 and $10 billion in assets and between $500 million and $1 billion in liabilities.  The company enters bankruptcy with a prepacked chapter 11 reorganization plan and intends to operate in the normal course throughout the bankruptcy restructuring process.  Epiq is the proposed claims agent. The company issued a press release with further information about this case. The case has been assigned to the Honorable Mary F. Walrath.

Contact Norman L. Pernick and  Nicholas J. Brannick for more information.

Chieftain Sand and Proppant, LLC, a producer of hydraulic fracturing sand, and one affiliate, have filed voluntary petitions for chapter 11 bankruptcy relief in the United States Bankruptcy Court for the District of Delaware (Lead Case No. 17-10064 KG) .  According to the First Day Declaration, the demand in frac sand decreased drastically due to the recent petroleum recession and contributed to the commencement of these cases. The petition lists between $1 million and $10 million in assets and between $50 million and $100 million in liabilities.  According to the First Day Declaration, the company enters chapter 11 with  the goal to conduct a section 363 sale.  Energy Capital Partners Mezzanine Opportunities, LP, one of its pre-petition secured lenders, will provide DIP financing and serve as the stalking horse.   Donlin, Recano & Company, Inc. is the proposed claims agent. The cases have been assigned to the Honorable Kevin Gross.

 

Contact Norman L. Pernick and  Nicholas J. Brannick for more information.

Bonanza Creek Energy, Inc. (NYSE: BCEI) and seven of its affiliates filed voluntary petitions for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware earlier this morning (Case No. 17-10015).  BCEI announced on December 23, 2016, that it had reached a comprehensive Restructuring Support Agreement with a majority of its Senior Noteholders and commenced solicitation for a prepacked plan of reorganization under Chapter 11.  The pre-petition Disclosure Statement to the pre-packaged Plan can be found here and the pre-petition Plan can be found here.  The Plan proposes to retire more than $850 million of BCEI’s Senior Notes in exchange for 95.5% of the equity in the reorganized BCEI and the opportunity to participate in a rights offering to raise an additional $200 million in new equity.  The Plan proposes to give BCEI’s existing shareholders 4.5% of the equity and 3-year warrants to acquire up to 7.5% of the equity in the Reorganized BCEI.  Prime Clerk, LLC is the proposed claims and solicitation agent.  The cases have been assigned to the Honorable Kevin J. Carey.  BCEI has issued a press release regarding its reorganization.

Contact Norman L. Pernick and  Nicholas J. Brannick for more information.

SQN Helo 5, LLC, and two of its affiliates, have filed petitions for chapter 11 bankruptcy relief in the United States Bankruptcy Court for the District of Delaware (Case No. 17-10007). The petition lists between $1 million and $10 million in both assets and liabilities.  The cases have been assigned to  the Honorable Brandan  L. Shannon. The petition can be found here.

Contact Norman L. Pernick and  Nicholas J. Brannick for more information.