Week Ahead in Bankruptcy: Aug. 30, 2021
- Law firms
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(Reuters) – Here is a look at some upcoming events of interest to the bankruptcy law community. Unless otherwise noted, all times are local, and court appearances are virtual due to the COVID-19 pandemic.
Monday, Aug. 30
2 p.m. – Boy Scouts of America will hold a status conference on a request by groups representing sex abuse claimants seeking documents from Boy Scouts insurer Century Indemnity Co surrounding certain insurance policies. The case is In re Boy Scouts of America, U.S. Bankruptcy Court, District of Delaware, No. 20-10343. For the tort claimants’ committee: James O’Neill of Pachulski Stang Ziehl & Jones. For the Coalition of Abused Scouts for Justice: David Molton of Brown Rudnick. For Century: Tancred Schiavoni of O’Melveny & Myers.
Tuesday, Aug. 31
2 p.m. – The U.S. branch of apparel retailer Global Brands Group Holding Ltd will seek approval of its sale procedures, which include a $17.3 million lead bid for its Aquatalia brand. It is also looking to sell its Ely & Walker and Airband brands, among others. The case is GBG USA Inc., U.S. Bankruptcy Court, Southern District of New York, No.21-11369. For GBG: Rachel Strickland of Willkie Farr & Gallagher.
Wednesday, Sept. 1
11 a.m. – Satellite operator Intelsat SA will seek approval to begin soliciting creditor votes for its proposed reorganization plan, which would reduce its debt from nearly $15 billion to $7 billion. The company announced that it had support for the plan from holders of 75% of its funded debt following a settlement with key creditor groups on Aug. 24. The case is Intelsat SA, U.S. Bankruptcy Court, Eastern District of Virginia, No. 20-32299. For Intelsat: Edward Sassower of Kirkland & Ellis.
Thursday, Sept. 2
9 a.m. – Offshore drilling contractor Seadrill Ltd will seek approval of an agreement with lenders to back rights offerings that total $300 million and to pay those lenders a fee of 7.5%. The motion is opposed by another group of lenders that says Seadrill should consider alternative options, including bids for its assets from other offshore drilling companies. The case is In re Seadrill Ltd, U.S. Bankruptcy Court, Southern District of Texas, No. 21-30427. For Seadrill: Anup Sathy of Kirkland & Ellis. For the opposing lender group: Devin van der Hahn of Quinn Emanuel Urquhart & Sullivan.
Friday, Sept. 3
10 a.m. – Mexican airline Grupo Aeromexico SAB de CV will seek approval of affiliate Aerovias de Mexico SA de CV to purchase a flight simulator from CAE Inc and to assume certain aircraft leases. The case is In re Grupo Aeromexico SAB de CV, U.S. Bankruptcy Court, Southern District of New York, No. 20-11563. For Grupo Aeromexico: Timothy Graulich of Davis Polk & Wardwell.
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