Many commentators have remarked that a “new normal” has evolved for Chapter 11 proceedings, wherein the major constituents negotiate the salient terms and exit strategy of the debtor’s restructuring prior to the filing of the bankruptcy petition, generally leading


Continue Reading Auto-Hauler Allied Systems Holdings’ Car Wreck of a Chapter 11 Case May Finally Be at an End

The School Specialty chapter 11 case began in what has become all too typical fashion. The company, overleveraged and short of cash, had no choice but to accept a lifeline extended by its second lien secured lender, a private investment fund. The


Continue Reading Too Cool for School Specialty – Alternative DIP Financing Allows Educational Company to Avoid Immediate Sale