Restructuring

Judge Approves $7 Million Sale of Fresh Produce Retail Chain

05/13/15

The roughly $7 million sale of the Fresh Produce retail chain, which sells vacation-inspired clothing to women, got approval from a bankruptcy judge.

In a court order signed Tuesday, Judge Michael Romero approved the chain’s sale to an investor group that includes Fresh Produce’s existing owners, Thom and Mary Ellen Vernon.

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Fresh Produce Buyer Plans to Save More Than Half of Stores

05/11/15

The Fresh Produce retail chain, which sells colorful, roomy women’s clothing that one can classify as “tourist wear,” has found a buyer who promised to keep more than half of its 27 stores alive.

In court papers, Fresh Produce officials said that an entity called Blue Stripe LLC is preparing to buy all but 12 stores out of bankruptcy protection.

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American Eagle Energy Enters Bankruptcy

05/11/15

Colorado oil company American Eagle Energy Corp. has filed for chapter 11 bankruptcy protection after missing an interest payment to bondholders. The Wall Street Journal has the Daily Bankruptcy Review article here.

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Bankrupt Chicago Horse-Racing Tracks Look for Buyers

05/08/15

Want to place a bet on two Chicago-area horse-racing tracks?

Balmoral Park and Maywood Park are going up for sale as part of a deal to end a legal fight with Illinois riverboat casino operators. The casino operators won an $82 million judgment against the tracks’ owners over an alleged bribery scheme involving disgraced ex-Illinois Gov. Rod Blagojevich. The tracks filed for bankruptcy in December to prevent the casinos from trying to collect that money.

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RadioShack Intellectual Property Hits Auction Block Monday

05/08/15
Tony Gutierrez/Associated Press

The RadioShack trademark and the rest of the intellectual property trove of the electronics retailing pioneer is going up for auction Monday as efforts continue to gather cash f

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Watchdogs Seek Examiner for Ex-Apple Supplier GT Advanced

05/07/15

Federal bankruptcy watchdogs have asked that an independent examiner be appointed to oversee spending in the bankruptcy of GT Advanced Technologies Inc. The Wall Street Journal has the Daily Bankruptcy Review article here.

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Magnetation Files for Bankruptcy After Reaching Deal With Bondholders

05/06/15

Magnetation LLC, a Minnesota mining company, filed for chapter 11 bankruptcy protection Tuesday after reaching a restructuring deal with senior bondholders owed $425 million. The Wall Street Journal has the Daily Bankruptcy Review article here.

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Gallup Diocese, Abuse Victims to Begin Mediation

05/01/15

A bankruptcy judge has ordered the Roman Catholic Diocese of Gallup, N.M., its insurance carriers and lawyers representing 58 alleged sexual-abuse victims to begin mediation no later than July 15.

Judge David Thuma, who oversees the diocese’s bankruptcy proceedings, signed off on mediation at the request of both alleged victims and the diocese, which stretches across broad swaths of northern Arizona and New Mexico.

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Endeavour International Looks for Buyer of U.S. Operations

05/01/15

Oil and gas developer Endeavour International Corp. couldn’t reassemble the pieces of a restructuring pact shattered by diving oil prices, so it is looking for a buyer of its U.S. operations. The Wall Street Journal has the Daily Bankruptcy Review article here.

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