The U.S. trustee on Wednesday objected to Purdue Pharma LP's
proposals to retain Davis Polk & Wardwell, Skadden Arps Slate
Meagher & Flom and Wilmer Cutler Pickering Hale & Dorr by
allowing the law firms to hold on to their retainers until the
maker of Oxycontin's bankruptcy ends.
The Navajo Nation on Tuesday withdrew financial guarantees
for the acquisition by its Navajo Transitional Energy Co LLC of
three mines from bankrupt coal producer Cloud Peak Energy Inc,
saying the tribal company had not provided the tribe's
government with enough information to support the deal.
Medical device maker Nuvectra Corp filed for bankruptcy on
Tuesday, saying in a statement Chapter 11 protection will allow
it to keep its options open for tackling its financial
U.S. dairy giant Dean Foods Co sought Chapter 11 protection
on Tuesday, blaming how Americans are drinking less milk and
saying one of its largest creditors may buy it.
The committee for unsecured creditors of Destination
Maternity Corp on Monday objected to terms in the maternity
apparel retailer's bidding procedures to set aside proceeds from
a sale to pay lenders before the company's bankruptcy gets
Oil and natural gas investment fund Sheridan Holding Co II
LLC expects to be valued between $350 million to $500 million if
its prepackaged bankruptcy reorganization plan is approved as
expected, its banking advisor said in a filing on Sunday.
Coal producer Cloud Peak Energy Inc on Friday won bankruptcy
court approval to end employment agreements with three top
executives, including its chief executive.
Arsenal Resources Development LLC filed for Chapter 11
bankruptcy protection on Friday with a plan approved by its
stakeholders to cut more than $400 million in debt, marking the
natural gas producer's second attempt this year to reorganize
its finances under court supervision.
The judge overseeing Puerto Rico's bankruptcy-like
restructuring has rejected a bid by two investors to reframe
their claims for financial losses as personal injury claims.
Luxury retailer Barneys New York Inc is seeking more time to
remain the only party in its bankruptcy able to file a
reorganization plan after wrapping up its roughly $271 million
sale to Authentic Brands.