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Today Newsletter.
Your daily access to recent significant Chapter 11 case filings, relevant restructuring news and samples of some of our current distressed company profiles.
| Court | Filed | Debtor | Case No | Attorney | Assets | Liabilities |
|---|---|---|---|---|---|---|
| S.D. Tex. | 3/10/2023 | Loyalty Ventures Inc. | 23-90111 | Matthew D. Cavenaugh | $1M-$10M | $500M-$1B |
| S.D. Tex. | 3/10/2023 | LVI Lux Holdings S.à r.l. | 23-90114 | Matthew D. Cavenaugh | $100k-$500k | $500M-$1B |
| S.D. Tex. | 3/10/2023 | LVI Sky Oak LLC | 23-90112 | Matthew D. Cavenaugh | $0-$50k | $0-$50k |
| S.D. Tex. | 3/10/2023 | Rhombus Investments L.P. | 23-90113 | Matthew D. Cavenaugh | $100k-$500k | $0-$50k |
| D. Del. | 3/9/2023 | Ryze Renewables II, LLC | 23-10289 | Pauline K. Morgan | $100M-$500M | $100M-$500M |
| D. Del. | 3/9/2023 | Ryze Renewables Las Vegas, LLC | 23-10290 | Pauline K. Morgan | $100M-$500M | $100M-$500M |
| E.D.N.Y. | 3/9/2023 | 79 Railroad St, Inc | 23-70821 | Pro Se | $0-$50k | $500k-$1M |
| E.D.N.Y. | 3/9/2023 | Lonestar Sports Bar & Grill Inc (Second Filing) | 23-40804 | Pro Se | $0-$50k | $100k-$500k |
| S.D.N.Y. | 3/9/2023 | Luigi Cimolai Holding S.p.A. | 23-90110 | Patricia B. Tomasco | ||
| S.D. Tex. | 3/9/2023 | Cimolai S.p.A. | 23-90109 | Patricia B. Tomasco | ||
| S.D. Tex. | 3/9/2023 | Fishbone Safety Solutions, Ltd. | 23-60011 | Richard Lee Fuqua II | $1M-$10M | $1M-$10M |
| E.D. Tex. | 3/9/2023 | Imagenation of Allen, LLC (Second Filing) | 23-40444 | Joyce W. Lindauer | $0-$50k | $100k-$500k |
| D. Nev. | 3/9/2023 | FORTE II, LLC (Third Filing) | 23-10868 | Marjorie A. Guymon, Esq. | $0-$50k | $0-$50k |
| D. Colo. | 3/9/2023 | Hallmark Mfg., Inc. | 23-10868 | Steven T. Mulligan | $0-$50k | $0-$50k |
| W.D. La. | 3/9/2023 | B&B Builders & Investors, LLC | 23-50155 | Tom St. Germain | $500k-$1M | $1M-$10M |
| W.D.N.C. | 3/9/2023 | Stay Asheville, Inc. | 23-10030 | R. Todd Mosley | $500k-$1M | $500k-$1M |
| D. Del. | 3/8/2023 | BlackLapel Custom Clothiers, Inc. | 23-10287 | Joseph C. Barsalona II | $100k-$500k | $1M-$10M |
| D. Del. | 3/8/2023 | Blank Label Group, Inc. (Second Filing) | 23-10286 | Joseph C. Barsalona II | $500k-$1M | $1M-$10M |
| D. Del. | 3/8/2023 | Ratio Clothing, LLC | 23-10288 | Joseph C. Barsalona II | $100k-$500k | $1M-$10M |
| E.D.N.Y. | 3/8/2023 | 86-55 Grand Realty Inc. | 23-40781 | William Zou | $10M-$50M | $10M-$50M |
Spell Out Percentages in Your Stipulated Judgments
Loyalty Ventures Inc. (Nasdaq: LYLT) (the "Company") and certain of its subsidiaries filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court"). In addition, earlier today, LoyaltyOne, Co. ("LoyaltyOne"), a subsidiary of the Company, sought protection under the Companies' Creditors Arrangement Act (Canada) (the "CCAA") in the Ontario Superior Court of Justice (the "Canadian Court").
In connection with the CCAA proceedings, LoyaltyOne filed motions seeking Canadian Court approval under the CCAA of a sale and investment solicitation process ("SISP"). Under the SISP, if approved, interested parties would be invited to participate in a sale process in accordance with the SISP procedures. Concurrent with the issuance of this press release, Bank of Montreal (TSX: BMO) (NYSE: BMO) announced its entry into a purchase agreement with LoyaltyOne pursuant to which BMO will acquire LoyaltyOne's AIR MILES Reward Program (AIR MILES) business. The consummation of the sale transaction is conditioned upon LoyaltyOne not receiving a more favorable offer from another party in accordance with the SISP, and other customary closing conditions.
Read the full articleCision Published March 10, 2023.
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| Brian Osborne | Paul Deutch | Alison Miller |
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