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PSL-North America LLC and an affiliate sought bankruptcy protection with plans to sell most of their assets to Jindal Tubular USA LLC for cash and assumed liabilities totaling $100 million, absent higher and better offers.

Judge Robert E. Grossman of the U.S. Bankruptcy Court for the Eastern District of New York gave Kangadis Food Inc. interim authority to use cash collateral in which Citibank, N.A., has an interest. Prior to the Petition Date, the Debtor was indebted to Citibank in the amount of $3.5 million plus accrued and compound interest, fees, costs and attorney's fees as may be accrued.

GSE Environmental, Inc. and its debtor-affiliates sought and obtained permission from the Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware to employ Prime Clerk LLC as administrative advisor, nunc pro tunc to May 4, 2014 petition date.

Aramid Entertainment Fund Limited and its affiliated debtors ask the bankruptcy court for approval to hire Kinetic Partners (Cayman) Limited as crisis managers, nunc pro tunc to the Petition Date.

Aramid Entertainment Fund Limited, which made loans to, and investments in, participants in the global media and entertainment industry, was sent to Chapter 11 bankruptcy by its liquidators appointed in the Cayman Islands.

Overseas Shipholding Group, Inc., et al., seek authority from the U.S. Bankruptcy Court for the District of Delaware for Maremar Tanker LLC to sell to Maremar Product Tanker Corporation its rights, titles and interests in VICTORY (ex-Overseas Maremar).

Energy Future Holdings Corp., and its debtor-affiliates seek authorization from the U.S. Bankruptcy Court for the District of Delaware to employ Sidney Austin LLP as special counsel for certain corporate and litigation matters, nunc pro tunc to Apr. 29, 2014 petition date.

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  • Takata Corp. et al. Proposes to Pay $47.4 Million to Key Vendors

    TK Holdings Inc. and other Takata Corp. units that have sought Chapter 11 protection are seeking approval from the U.S. Bankruptcy Court for the District of Delaware to pay $47.4 million of the $118 million owed to various third-party providers of goods and services.

    The Debtors are only seeking approval to pay the prepetition claims of "critical vendors", i.e. vendors, suppliers, service providers, and other similar parties and entities that are essential to maintaining the going concern value of the Debtors' businesses.

    Written on Tuesday, 27 June 2017 02:03 in Latest News Be the first to comment! Read 10 times Read more...