Mac Acquisition LLC (dba Romano’s Macaroni Grill), along with eight affiliates and subsidiaries, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 17-12224).  According to the First Day Declaration, Mac enters Chapter 11 with a prepacked plan of reorganization and a Restructuring Support Agreement with two of its largest secured creditors.  Mac also enters Chapter 11 with proposed debtor-in-possession financing in the amount of $5 million.  In the Petition, Mac reports between $10 – $50 million in assets and $50 – $100 million in liabilities.  Donlin Recano is the proposed claims and noticing agent.  The cases have been assigned to the Honorable Kevin Gross.

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

Ideal Diamond Trading Limited (f/k/a Jade Crown Trading Limited), a diamond trader based in Hong Kong, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 17-12202).  Ideal is an affiliate of Exelco North America, Inc. (Lead Case No. 17-12029) and it is expected that Ideal’s case will be jointed administered with Exelco.  Ideal’s Petition estimates its assets and liabilities to be between $10 – $50 million.  Donlin Recano is the claims and noticing agent for the Exelco cases.  The Exelco cases have been assigned to the Honorable Kevin Gross.

 

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

Upcoming Committee Formation Meeting: Wednesday, October 11, 2017 10:00 AM

Case Name: 17-12082 (KJC)

Location: Delaware State Bar Association, 405 N. King Street, 2nd Floor, Wilmington, DE 19801

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. See the petition for further details.

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

Upcoming Committee Formation Meeting: Friday, October 13, 2017 10:00 AM

Case Name: 17-12100 (LSS)

Location: Sheraton Suites, 422 Delaware Avenue, Wilmington, DE 19801

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. See the petition for relief for further details.

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

Upcoming Committee Formation Meeting: Thursday, October 12, 2017 10:00 AM

Case Name: 17-12029 (KG)

Location: Delaware State Bar Association, 405 N. King Street, 2nd Floor, Wilmington, DE 19801

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. See the petition for further details.

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

GST Autoleather, Inc., a manufacturer of leather interior products for automobiles based in Southfield, Michigan, along with five of its subsidiaries and affiliates, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 17-12100).  The petition reports $100 million to $500 million in both assets and liabilities.  According to reporting from Debtwire, GST was shopping itself for sale prior to the filing.  No First Day Declaration or Motion to Appoint a Claims and Noticing Agent have been filed.  The cases have not yet been assigned to a Judge.

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

Appvion, Inc., a manufacturer of specialty, high value added coated paper products headquartered in Appleton, Wisconsin, has, along with five of its affiliates and subsidiaries, filed a petition for relief in the Bankruptcy Court for the District of Delaware (Lead Case No. 17-12082).  The petition reports $413,430,904 in assets and $714,758,194 in liabilities.  According to the First Day Declaration, Appvion’s filing was caused by negative industry trends and an unsustainable debt overhang, and Appvion intends to pursue a balance sheet restructuring.  Appvion has also filed a motion to approve $85 million in debtor-in-possession financing from a group of its first lien lenders.  Prime Clerk LLC is the proposed claims and noticing agent.  The case has been assigned to the Honorable Kevin J. Carey.

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

Exelco North America, Inc., a diamond wholesaler based in Wilmington, DE, along with three affiliates, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 17-12029).  Exelco, North America is the American affiliate of Antwerp, Belgium-based Exelco NV, which has also filed a petition for relief.  Exelco NV recently made headlines when the Belgian bank KBC Group NV seized assets from Exelco NV’s headquarters in July.  KBC Group was subsequently ordered to return those assets by a Belgian court.  Exelco North America’s petition reports $0 to $50,000 in assets and $1 million to $10 million in liabilities  Exelco NV’s petition reports $10 million to $50 million in assets and $50 million to $100 million in liabilities. No First Day Declaration has been filed yet.  Donlin Recano 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.

Upcoming Committee Formation Meeting:  Tuesday, September 26, 2017 10:00 AM

Case Name: 17-11962 (KJC)

Location: U.S. Trustee Office, 844 King Street, Suite 3209, Wilmington, DE 19801

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. See the petition and First Day Declaration for further details.

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

Aerogroup International, Inc., along with five of its affiliates and subsidiaries, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 17-11962).  Based in Edison, NJ, the Debtors comprise a women’s footwear brand which whose products are retailed through various channels, including 78 Debtor-owned stores and the Debtors’ e-commerce platform.   The Petition reports $50 million to $100 million in assets and $100 million to $500 million in liabilities.  According to the First Day Declaration, the Debtors intend to liquidate their retail stores and pursue a reorganization or § 363 sale built around their e-commerce and wholesale businesses.  The Debtors have engaged Hilco Merchant Resources, LLC as their exclusive liquidating agent for the store closing sales.  Prime Clerk, LLC is the proposed claims and noticing agent.  The cases have been assigned to the Honorable Kevin J. Carey.

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