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Friday, March 10, 2023

Welcome to the Bankruptcy
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.

Featured Recent Filings

CourtFiledDebtorCase NoAttorneyAssetsLiabilities
S.D. Tex.3/10/2023Loyalty Ventures Inc.23-90111Matthew D. Cavenaugh$1M-$10M$500M-$1B
S.D. Tex.3/10/2023LVI Lux Holdings S.à r.l.23-90114Matthew D. Cavenaugh$100k-$500k$500M-$1B
S.D. Tex.3/10/2023LVI Sky Oak LLC23-90112Matthew D. Cavenaugh$0-$50k$0-$50k
S.D. Tex.3/10/2023Rhombus Investments L.P.23-90113Matthew D. Cavenaugh$100k-$500k$0-$50k
D. Del.3/9/2023Ryze Renewables II, LLC23-10289Pauline K. Morgan$100M-$500M$100M-$500M
D. Del.3/9/2023Ryze Renewables Las Vegas, LLC23-10290Pauline K. Morgan$100M-$500M$100M-$500M
E.D.N.Y.3/9/202379 Railroad St, Inc23-70821Pro Se$0-$50k$500k-$1M
E.D.N.Y.3/9/2023Lonestar Sports Bar & Grill Inc (Second Filing)23-40804Pro Se$0-$50k$100k-$500k
S.D.N.Y.3/9/2023Luigi Cimolai Holding S.p.A.23-90110Patricia B. Tomasco
S.D. Tex.3/9/2023Cimolai S.p.A.23-90109Patricia B. Tomasco
S.D. Tex.3/9/2023Fishbone Safety Solutions, Ltd.23-60011Richard Lee Fuqua II$1M-$10M$1M-$10M
E.D. Tex.3/9/2023Imagenation of Allen, LLC (Second Filing)23-40444Joyce W. Lindauer$0-$50k$100k-$500k
D. Nev.3/9/2023FORTE II, LLC (Third Filing)23-10868Marjorie A. Guymon, Esq.$0-$50k$0-$50k
D. Colo.3/9/2023Hallmark Mfg., Inc.23-10868Steven T. Mulligan$0-$50k$0-$50k
W.D. La.3/9/2023B&B Builders & Investors, LLC23-50155Tom St. Germain$500k-$1M$1M-$10M
W.D.N.C.3/9/2023Stay Asheville, Inc.23-10030R. Todd Mosley$500k-$1M$500k-$1M
D. Del.3/8/2023BlackLapel Custom Clothiers, Inc.23-10287Joseph C. Barsalona II$100k-$500k$1M-$10M
D. Del.3/8/2023Blank Label Group, Inc. (Second Filing)23-10286Joseph C. Barsalona II$500k-$1M$1M-$10M
D. Del.3/8/2023Ratio Clothing, LLC23-10288Joseph C. Barsalona II$100k-$500k$1M-$10M
E.D.N.Y.3/8/202386-55 Grand Realty Inc.23-40781William Zou$10M-$50M$10M-$50M

View All Filings
Featured Article

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 article

Cision Published March 10, 2023.

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