Hornblower Group, a leading provider of land- and water-based experiences, has announced a major restructuring deal that will see it sell or shut down its overnight cruising business, American Queen Voyages (AQV), which has been struggling due to the pandemic. The deal, which has the support of its investors, will also involve a change in…
All posts tagged Chapter 11
Philippine Airlines files restructuring under Chapter 11
Avation and Philippine Airlines (PAL) have agreed terms for PAL to retain the use of a Boeing 777-300ER aircraft on lease from Avation. Philippine Airlines have advised that sufficient creditors, including Avation, have agreed to support the restructuring and the airline has a high level of confidence that the process will be completed successfully. A…
Sur La Table to restructure and complete a going-concern sale via voluntary Chapter 11 process
SEATTLE: Sur La Table announced that it has filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey to consummate a restructuring and going-concern sale of the Company, subject to Court approval. With the support of its lenders, Sur La Table has secured…
PG&E obtains all financing necessary to emerge from Chapter 11 and for ongoing operations
SAN FRANCISCO: PG&E Corporation and Pacific Gas and Electric Company announced that PG&E has emerged from Chapter 11, successfully completing its restructuring process and implementing PG&E’s Plan of Reorganization that was confirmed by the United States Bankruptcy Court on June 20, 2020. “Today’s announcement is significant for PG&E and for the many wildfire victims who…
Windstream’s restructuring plan under Chapter 11 confirmed by Court
LITTLE ROCK: Windstream Holdings Inc., a leading provider of advanced network communications and technology solutions, announced that the U.S. Bankruptcy Court for the Southern District of New York has confirmed the Company’s Plan of Reorganization. The Company expects to complete its financial restructuring process and emerge from Chapter 11 bankruptcy protection as a privately held…
Foresight Energy announces Bankruptcy Court confirmed its reorganization plan
SAINT LOUIS: Foresight Energy LP announced that the United States Bankruptcy Court for the Eastern District of Missouri has issued an order confirming Foresight’s chapter 11 plan of reorganization. The plan provides for the reduction of over $1 billion of Foresight’s existing indebtedness and the elimination of approximately $94 million of Foresight’s anticipated annual cash interest…
PG&E Corp achieves bankruptcy court confirmation of its plan of reorganization
SAN FRANCISCO: PG&E Corporation and Pacific Gas and Electric Company announced that the United States Bankruptcy Court for the Northern District of California has confirmed the company’s Chapter 11 Plan of Reorganization. This follows the California Public Utilities Commission’s approval of the Plan on May 28, 2020. “Today’s ruling in the Chapter 11 proceeding concludes…
Unit corporation files Chapter 11; enters into restructuring support agreement with creditors
TULSA: Unit Corporation, a Tulsa-based, publicly held energy company, has filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code to effectuate a pre-negotiated Chapter 11 plan of reorganization that will reduce the Company’s funded debt obligations by more than $650 million and right-size the Company’s balance sheet for go-forward operations. The Company…