Innkeepers, Paulson Resorts, Townsends: Bankruptcy

by:GF bags     2019-08-31
Midland Loan Services
Fixed services of $0. 825 billion
The US Inn owner\'s interest rate mortgage on trust property filed a document on February.
1 against requests by LNR Securities LLC and Appaloosa Management LP for the right to oppose the newly proposed innkeeper restructuring structure.
Both LNR and Appaloosa hold some of the certificates issued by the trust company that Midland serves for it.
Midland cited chapters and verses in the management document, saying that the certificate holder granted Midland exclusive rights to appear in court in bankruptcy cases.
Midland cited other provisions that stated that they could only act in bankruptcy if the individual Certificate Holder jointly held a 25% stake and agreed to compensate Midland.
In total, Appaloosa and LNR were \"well below\" 25% of the requirements, Midland said.
For a summary of LNR\'s preliminary objections to the new restructuring structure, please click here to view January.
Bloomberg bankruptcy report.
The bankruptcy judge will decide at the hearing whether LNR and Appaloosa are eligible to oppose the reorganization of the innkeeper.
If it is planned, Lehman Ali
Five Mile Capital Partner Co. , Ltd. will share ownership after the innkeeper\'s 11 th chapter reorganization is completed.
For more information about the new plan structure, click here on January.
Bloomberg bankruptcy report.
Bankruptcy Court hearing to be held on March 8
9 consider the auction process and approval agreement for the establishment of new proposals.
Palm Beach, Florida-
The innkeeper of the real estate investment trust has been extended by 72-
Accommodation and limited
The service property has 10,000 rooms in 20 states.
For details on the first innkeeper plan rejected by the bankruptcy judge, please click here to view August.
Bloomberg bankruptcy report.
Apollo Investment
The innkeeper was bought in July 2007 for $1.
35 billion.
The Innkeeper\'s petition lists $1 in assets.
The total debt was $1, or 5 billion euros. 52 billion.
The case took place at the American Trust, 10-13800, U. S.
Bankruptcy Court in southern New York (Manhattan).
Southwest Georgia Ethanol Producer Profile 100-owner of southwest Georgia ethanol Co. , Ltd. million gallon-a-
The annual ethanol plant in Mitchell County, Georgia submitted an 11-chapter petition on February.
In Albany, Georgia
The company listed assets of $164 in the petition.
Debt of $7 million and $134. 1 million.
Southwest Georgia\'s ethanol company earns $168.
The financial year ended September was EUR 9 million.
Net loss for the whole year was $2. 2 million.
The company said its net loss for the three months ended December was $2 million.
The company blamed the funding problem on higher corn prices compared to ethanol prices.
The company said in court documents that the factory still has operational difficulties caused by construction and design problems.
SGE is owned by First United ethanol Co. , Ltd.
The parents did not file for bankruptcy.
Chapter 11 cases will be funded by a set of existing lenders offering $10 million in revolving credit and represented by WestLB AG, New York branch.
From the loan, $5 million will be provided temporarily.
The loan rate is nine percentage points higher than the London interbank rate.
There will be 4% floors in Libor.
The bank group was owed $92 million for building the plant.
Production began in October 2008.
Other liabilities include $12.
6 million arrears of two sub-notes. The larger, $8.
6 million, belonging to the Mitchell Development Authority.
Please click here for other Bloomberg reports.
SGE requested that the case be handed over to the Court branch in Macon, Georgia.
A court document said participants in the case would fly to Atlanta for the hearing.
Macon is closer to Atlanta.
The case occurred at Southwest Georgia ethanol Co. , Ltd. , 11-10145, U. S.
Bankruptcy Court, Central Georgia (Albany).
Adapt to the shrinking market
Lower levels of bond liquidity pressuretier junk-
Rating companies are the lowest since the medium term
According to Moody\'s liquidity, 2005
The Stress Index, released in February. 1.
Moody\'s said the improvement came from \"high
\"Even the yield market for high-risk credit is welcome \".
\"A year ago, the weaker credit in the category owed $79 billion in debt this year.
Moody\'s says debt due in 2011 has now fallen to $26 billion. Although near-
Moody\'s said that the term of regular debt has been reduced, \"the total debt level has not decreased significantly.
Instead, \"the company is just playing-the-
Moody said: \"The Next way.
Caa1 has $130 billion-or-
Moody\'s said in another report that lower-rated debt will expire in the next five years.
Moody\'s said such companies \"could face debt refinancing difficulties if the leveraged financing market is under pressure.
Looking forward, Moody\'s said, \"the biggest liquidity risk at the moment is the risk of economic recovery turning to the south . \"
The Paulson resort provided two financing for the restructuring of five of Paulson\'s resorts.
Winthrop Real Estate Trust, which was foreclosed last week, has two offers to fund their 11-chapter restructuring that began in February. 1 in New York.
One of them is from the Singapore government, a mezzanine loan company.
Paulson offered another loan with Five Mile Capital partner Limited.
In filing the petition, Paulson said it would provide $30 million in loans from existing mortgages.
The resort will decide which offer is best next month.
For Bloomberg reports from yesterday\'s hearing, please click here.
Paulson included the resorts in Chapter 11 of February.
Mortgage loans were $1 billion and mezzanine loans were $0. 525 billion.
Midland Loan Services
Special Services for $1 billion in mortgages.
The Paulson resort case has some of the same roles as the hotels owned by the US Inn owner trust, which is under restructuring.
Five miles is one of the innkeeper\'s potential buyers, and Midland is a special service company that offers $0. 825 billion in mortgages for most innkeeper properties.
CNL Hotels & Resorts Morgan Stanley
Own the resort before January. 28 foreclosure.
Paulson and Winthrop gained control by canceling their own mezzanine loans.
The resort is the Grand Wailea Resort & Spa in Hawaii;
La Quinta Resort in La Quinta, CA and pga west golf course;
Biltmore Resort & Spa Phoenix Arizona
Dolar Golf & Spa Miami
Claremont Resort & Spa in Berkeley, California.
There are 14 golf courses at the resort.
Property listed assets are $2.
Liabilities of $2 billion and $1. 9 billion. New York-
In 2007, Morgan Stanley bought the five Resorts for $4 billion.
Revenue for 2010 was $0. 465 billion.
The same foreclosure on January.
On the 28 th, Capital Trust took over three other hotels in Morgan Stanley.
They are financed separately and are not submitted in Chapter 11.
Those are the Ritz hotels.
Carlton Grande Lake in Orlando, Florida
JW Marriott Grand Lake in Orlando, Florida
JW Marriott Resort at Desert Ridge is located in Phoenix.
The case took place at re MSR golf course Limited, 11 th10372, U. S.
Bankruptcy Court in southern New York (Manhattan).
Luyuan No. 1 bidder otters tail ethanol plant tail Co. , Ltd. will take 55-million gallon-a-
The annual ethanol plant in Fergus Falls, Minnesota, will be auctioned on February. 16.
Preliminary bids will expire on February. 11.
A hearing to approve the sale is scheduled for February. 17.
At the auction, $62.
Green Plains Renewable energy will offer 54 million bid opening
It has eight ethanol plants with a total capacity of 0. 657 billion gallons. a-year.
The fourth is the green plain.
According to court documents, the largest ethanol producer in North America.
The price includes $55 million in cash and assumed debt, plus inventory adjustments.
After a consensus reorganization with most of the larger creditors, Otter Tail intends to restructure with Chapter 11 plans.
When the Otter Tail can\'t raise $12.
It decided to sell a 5 million stake.
Accumulated arrears of $82 to lenders.
8 million, according to the court documents.
AgStar Financial Services owes PCA $34.
2 million construction loans.
Otter Tail applied for Chapter 11 reorganization in his hometown on October.
The factory began operation in March 2008.
The petition lists assets of $66.
Debt of $4 million and $86 million.
Almost all debts are secured.
In the case of re-Otter Tail company Enterprise Co. , Ltd. , 09-61250, U. S.
Minnesota District bankruptcy court (Fergus Falls).
Hsbc us seeks to dismiss the Awal Bank Chapter 11 case if the bankruptcy judge in Manhattan agrees to the motion filed yesterday, the Chapter 11 case that the manager of Awal Bank BSC started on October will be rejected by HSBC Bank of America
Awal commenced bankruptcy proceedings in Bahrain on July 2009.
In September of the same year, it filed a 15-chapter petition in New York.
Later, the bankruptcy judge admitted that Bahrain was so-
It is called the main foreign procedure.
The Awal administrator later filed a petition for Chapter 11, apparently because of the limited capacity to file a lawsuit in chapter 15.
Within days of the commencement of Chapter 11 cases, the bankruptcy judge rejected the structure of the reorganization, there was no creditor\'s committee in the reorganization, and there was no list of assets and debts, and the Bahrain court assigned the creditors, and make payments to professionals without the approval of the bankruptcy court.
According to HSBC, there has been no major activity in the case since then.
The bank said the dismissal was appropriate.
Awal\'s 11-chapter petition says assets are less than $100 million and debt is more than $1 billion.
Although domestic banks cannot file for bankruptcy of any kind in the United StatesS.
Foreign banks like Awal may file for bankruptcy or restructuring.
Chapter 11 case In re Awal Bank BSC, 10-15518, U. S.
Bankruptcy Court in southern New York (Manhattan).
Chapter 15 case In re Awal Bank BSC, 09-15923, U. S.
Bankruptcy Court in southern New York (Manhattan).
Townsend lost $2.
8 million in the first 12 days of Chapter 11 Townsend
A vertically integrated chicken producer submitted an operation report showing that the cost of goods sold was nearly $2 million higher than $15.
24 million income for the first 12 days of Chapter 11 cases beginning on December. 19.
Net loss for the period was $2. 8 million.
Townsend plans to auction the business in February. 15.
Orders approved for financing require a sale this month, and if there is no remaining cash payment fee after the sale, convert the case to liquidation in Chapter VII.
Based in Georgetown, Delaware, family-
Townsend is able to produce 0. 7 billion pounds of poultry a year.
3 million eggs a week
It has four production facilities in Arkansas and North Carolina.
Townsend\'s listed assets are $0. 131 billion and its liabilities are $0. 127 billion.
Liabilities include $20.
7 million fixed-term loans owed to secured lenders and revolving credit owed $40 million. Twelve-
The monthly income was $0. 504 billion.
Townsend signed contracts with more than 300 growers running 1,200 chicken houses.
The case took place at re Townsends. , 10-14092, U. S.
Bankruptcy Court of Delaware (Wilmington).
Trade in the east is $4.
7 million December EBITDAOriental Trading Co. , Ltd.
In December, direct marketers of home decoration products, toys and novelty products, whose chapter 11 plan was confirmed, made a net loss of $5 million in December, at $39.
Net sales were 7 million.
Gross profit for the month was $24. 9 million.
Earnings before interest, taxes, depreciation and amortization for the month are $4. 7 million.
The restructuring project totaled $3. 1 million.
OTC confirmed with first-and second-lien lenders.
The plan adds cash or $0. 2 billion to new stocks.
The senior lender owed $0. 403 billion in Lien Notes.
For more information about planning and settlement, please click November.
Bloomberg bankruptcy report.
This plan is mainly negotiated with the first one.
Lien Lenders before August.
Filed for bankruptcy.
Carlyle Group purchased 68% off-site transactions from private equity funds in July 2006
Brentwood association of private equity investors.
Brentwood continues to hold about 24%.
Assets in Omaha, NE
In April, the company had a book value of $0. 463 billion.
Liabilities totaled $756. 6 million.
Net sales for this fiscal year were $485. 4 million.
The case occurred at re OTC Holdings. , 10-12636, U. S.
Bankruptcy Court of Delaware (Wilmington).
Blank report $3.
1 million net LossPoint blank solution company, December
Its restructuring plan is scheduled to be approved in February.
The court session was confirmed on the 14 th for $3.
Net sales in December were $7, with a net loss of 8 million. 3 million.
Operating loss for the month was $1. 4 million.
Total restructuring costs for the current period $5. 2 million.
Sponsored by lonstar Partners LP, Privet Fund Management LLC and Prescott Group Capital Management.
They will provide $25 million in alternative financing and support equity offerings of $15 million to $25 million.
This issue will be available to specific unsecured creditors and shareholders.
For more information about the plan, please click December.
Bloomberg bankruptcy report.
Point Blank, based in Pompano Beach, Florida, is a software armor manufacturer.
Revenue exceeded $0. 153 billion in 2009.
In September, the former chief executive and chief operating officer were found guilty of plotting $0. 185 billion in fraud.
The April petition lists $64 million in assets and $68 in debt. 5 million.
The debt includes $10.
5 million repayment of secured loans for Chapter 11 case financing.
He said it still owes $28.
2 million trading suppliers.
The case is at re Point Blank Inc. , 10-11255, U. S.
Bankruptcy Court of Delaware (Wilmington).
TAAs industry certification buy Owen TanningIrving Leather Co. , Ltd.
A shoe and handbag leather producer and seller in Hartland, Maine, this week was authorized by the bankruptcy court to sell the business to Tasman industries.
Tasman will waive Owen\'s $1 million debt.
In addition, Tasman will pay $3.
Payment of 3 million of cash and notes to the fund of the secured lender Jupiter LLC.
On November, Owen filed Chapter 11 documents in Bago, Maine, saying that assets were less than $10 million and debts were more than $10 million.
At the beginning of the restructuring, Porter capital
Since the factoring deal owed nearly $2 million, the Jupiter fund has a guarantee claim of $4. 2 million.
The development authorities in Maine owe $1. 2 million.
Accounts payable are $2.
Court documents say 6 million.
Revenue exceeded $28 million for the year ended June.
In the case of re-Owen Leather Co. , Ltd. , 10-11757, U. S.
Bankruptcy Court of Maine (Bangor).
A $250 Charlie Brown steakhouse liquor license the owner of the Charlie Brown steakhouse is selling another liquor license.
Dayman prison\'s cabin Food Co. , Ltd is a $250,000 business in Dayman, Massachusetts.
The company hopes to approve the sale at a hearing on March 9 without holding an auction. Forty-
Prior to the submission of Chapter 11 on November, seven locations had been closed.
Seven restaurants in the office have been sold out.
There will be another motion to sell the remaining 32 locations.
In addition to Charlie Brown and the office, the company operates in the name of Bugaboo Creek.
The company is controlled by Trimaran Capital Partners.
At the beginning of Chapter 11 cases, the lender was owed $70. 2 million.
In addition to the secured debt at the beginning of the case, the second arrears amounted to $14 million
Lien Senior sub-notes and mezzanine loans of $30 million.
The senior secured lender is Ableco Finance LLC of Wells Fargo Capital Finance Co. , Ltd.
And Ally Commercial Finance Limited
This case is the CB Holding Company. , 10-13683, U. S.
Bankruptcy Court of Delaware (Wilmington).
In December, The Bear Island paper company lost a net loss of $70,000.
A unit of Canada Birch Paper Co. , Ltd.
According to the operational report submitted to the bankruptcy court, a net loss of $70,000 was made in December.
Net sales for the month were $12. 86 million.
Gross profit is $1. 34 million.
At the beginning of November, the bankruptcy judge authorized Bear Island to sell the business to a group consisting of Black Diamond Capital Management Co. , Ltd. , Credit Suisse Group and Keith bin Capital Consultants Co. , Ltd.
They offered $172.
5 million, including $94.
5 million in cash and $78 million in credit for secured debt.
The Black Diamond Group estimates their offer will range from $90 million to $94.
Does not represent 5 million cash in the assets of its collateral.
The group holds 65% of the first $0. 438 billionlien debt.
Headquartered in Nova Scotia, birch and United States of AmericaS.
Subsidiaries apply for restructuring in the United States at the same timeS.
Canada, last February
Birch is second.
The largest news paper producer in North America.
At the beginning of Chapter 11 cases, the secured liability included $0. 438 billion
Term lien loan, second $0. 104 billion
Term lien loan, $50 million in an asset
Supported revolving credit and $51.
Swap agreement 5 million.
Trade suppliers were owed $9. 5 million.
In 2009, the companies generated $0. 667 billion in sales, of which $0. 125 billion came from Bear Island.
Birch has three pulp and paper mills in Quebec.
The Bear Island factory is located in Ashland, Virginia.
Birch trees are controlled by Brent paper.
In the case of re-commitment of Zhou Paper Co. , Ltd. LLC, 10-31202, U. S.
Bankruptcy Court of Eastern Virginia (Richmond).
S. Holdings Limited by SaysCoach, Moody\'s, the American coach \"may\" need to restructure
Moody\'s Investors Service said yesterday it was the largest chartered bus operator in the United States. S.
\"May\" need to be reorganized in \"very short term.
Moody\'s downgraded the company by one rating to caa1.
Of the other adjusted ratings, $55 million was second
2014 The lien term loan due becomes caa3.
Moody\'s said revenue in 2010 was $0. 417 billion.
Moody\'s said that when Fenway Partners bought the business from Colberg, the company \"took on a heavy debt burden in 2007 \". Dallas-
The coach is the second in this country.
The largest bus operatorW. R.
Grace, Tribune, GM, AmTrust, Evans Oil: Bankruptcy in today\'s bankruptcy podcast we describe W. R. Grace & Co.
The end of 10-
Restructuring.
We mentioned that only two plans are still competing in terms of restructuring publisher Forum companies.
And use AmTrust Financial
As an example of Congress\'s attempt to prevent bank holding companies from exploiting the loopholes in bankruptcy to evade capital requirements.
Let\'s take a look at the history of GM.
Avoid responsibility for assisting and inciting apartheid and describe access to oil dealer Evans oilLLC.
Listen to the bankruptcy podcast with Lee Pacchia of Bloomberg Law and Bloomberg News bankruptcy columnist and editorat-
Big Bill Rochelle, click here.
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