SAN FRANCISCO, Sept 19 The committee for
wildfire victims in the bankruptcy of PG&E Corp said in
a court filing on Thursday it was prepared to present a $24
billion reorganization plan for the power provider.
The committee representing wildfire victims in the
bankruptcy of PG&E Corp has attacked a recent $11 billion
settlement between the power producer and insurance companies,
arguing the deal violates bankruptcy rules on the order of
payments to creditors.
Sienna Biopharmaceuticals Inc won a court order on Wednesday
allowing it to begin tapping its roughly $11 million cash
collateral on the heels of filing for bankruptcy after burning
through much of its funding for developing skin treatments.
Oil and natural gas investment fund Sheridan Holding Co II
LLC filed for bankruptcy protection on Sunday with a prepackaged
plan overwhelmingly backed by its debtholders to eliminate $900
million of its roughly $1.1 billion in debt.
A group of unsecured noteholders of Sanchez Energy Corp has
challenged the energy producer's bid for an order approving a
$350 million bankruptcy loan package from secured noteholders,
saying they can offer a $175 million loan leaving the company in
stronger financial shape to emerge from Chapter 11.
USA Gymnastics is seeking an order giving it until early
December to file a reorganization plan, saying it does not
expect it will have a plan soon that sexual abuse victims and
other parties in its bankruptcy can support.
Cristine Pirro Schwarzman has joined the business
restructuring practice group at Ropes & Gray as a New York-based
partner, the firm announced on Thursday.
Energy producer Alta Mesa Resources Inc has filed for
bankruptcy protection to try to find a buyer or restructure its
nearly $850 million in debt, blaming weak oil prices.
Unsecured creditors of Avenue Stores LLC on Wednesday
rallied against its bid for an order approving its bankruptcy
loan, saying in a filing that terms of the loan would
effectively liquidate the women's apparel retailer without
regard to the interests of other stakeholders.
Weatherford International PLC on Tuesday filed a proposed
order for approving a revised reorganization plan that reduces
the amount of debt the oilfield services giant will issue to
help it emerge from bankruptcy by $400 million.