Global Geophysical Services Inc.'s prepetition lender is opposing the Debtors' motion for approval of their debtor in possession financing facility to be provided by certain of their prepetition unsecured bondholders, pointing out that it can provide alternative financing on the same economic terms offered by the bondholder. TPG Specialty Lending Inc. and its affiliates, the prepetition secured lenders, say priming their liens and security interests on a non-consensual basis in favor of the bondholders' DIP facility is neither necessary nor permissible.
The Budd Company, Inc., a former supplier to the automotive industry, filed for chapter 11 bankruptcy protection on March 31, 2014, to seek approval of a settlement of potential claims against its parent, ThyssenKrupp AG, to help it address about $1.2 billion in liabilities, mostly owed to former employees.
MSI Corporation seeks authorization from the Hon. Jeffery Deller of the U.S. Bankruptcy Court for the Western District of Pennsylvania to employ Logue Law Firm LLC as special counsel.
The U.S. Bankruptcy Court for the District of Nevada authorized Martifer Solar USA, Inc. to employ Wolf, Rifkin, Shapiro, Schulman & Rabkin LLP as special California litigation counsel nunc pro tunc to the Petition Date.
Auto Orange II, LLC, filed on March 21, 2014, a motion requesting an extension of its exclusive period to file a plan.
Global Aviation Holdings Inc., et al., said in a notice filed with the U.S. Bankruptcy Court for the District of Delaware that the deadline for interested parties to file competing bids for the purchase of all or substantially all of their assets is extended until April 23, 2014.
Bankruptcy Judge Nancy Hershey Lord rejected the request of N. Bergman Insurance Trust for an order reopening its bankruptcy case to vacate the Court's Order granting secured creditor Financial Life Services LLC relief from the automatic stay. The Debtor seeks to reinstate the automatic stay and to market and sell a certain life insurance policy. FLS opposes the Motion to Reopen.