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Latest Debtor-in-possession financing Stories

2010-04-22 16:42:00

BENSALEM, Pa., April 22 /PRNewswire-FirstCall/ -- Orleans Homebuilders, Inc. (the "Company", or "Orleans") (Pink Sheets: OHBIQ), which develops, builds and markets high-quality single-family homes and townhouses and whose operations in Pennsylvania and New Jersey date back more than 90 years, announced today that it has executed a $120 million debtor-in-possession credit facility ("DIP Credit Facility") which will provide a $40 million revolving line of credit, including up to $25 million...

2010-03-22 16:03:00

BENSALEM, Pa., March 22 /PRNewswire-FirstCall/ -- Orleans Homebuilders, Inc. (Pink Sheets: OHBIQ) ("Orleans" or the "Company") announced today that its Board of Directors approved the retention of PMCM, LLC, an affiliate of Phoenix Management Services, Inc. ("Phoenix Management") on March 16, 2010, but retroactive to March 4, 2010, to act as the Company's restructuring financial advisor as the Company seeks a restructuring plan that focuses on maximizing enterprise value for all...

2010-03-05 15:33:00

BENSALEM, Pa., March 5 /PRNewswire-FirstCall/ -- Orleans Homebuilders, Inc. (the "Company", or "Orleans") (Amex: OHB), which develops, builds and markets high-quality single-family homes and townhouses and whose operations in Pennsylvania and New Jersey date back more than 90 years, announced today that it has received Court approval on several key motions that will allow the continued operation of its homebuilding and management services operations. Importantly, the Court gave interim...

2010-03-03 17:33:00

TROY, Mich., March 3 /PRNewswire-FirstCall/ -- Champion Enterprises, Inc. (Pink Sheets: CJHBQ), a leader in factory-built construction, announced today that the sale of substantially all of its domestic and international operations has received final court approval. The sale, which is subject to customary regulatory approvals, is expected to close during the week of March 15, 2010. In connection with the transaction, an investor group consisting of affiliates of Centerbridge Partners,...

2010-02-03 12:33:00

FRANKLIN, Tenn., Feb. 3 /PRNewswire/ -- Spheris, a leading global provider of clinical documentation technology and services, today announced that it has entered into an agreement under which MedQuist Inc. and CBay Inc., portfolio companies of CBaySystems Holdings Ltd. and leading providers of medical transcription software and services, have agreed to purchase substantially all of Spheris' assets pursuant to a transaction that is to be implemented under Section 363 of the United States...

2009-12-23 12:08:00

CARY, N.C., Dec. 23 /PRNewswire/ -- Generation Brands, a leading provider of lighting fixtures and ceiling fans for the building construction and home improvement industries, announced today that it has received final approval from the Bankruptcy Court of its $20 million debtor-in-possession (DIP) financing agreement to continue purchasing goods and services, pay employee salaries and benefits and fund ongoing operations and other working capital needs during its voluntary restructuring...

2009-11-24 08:36:00

REYKJAVIK, Iceland, November 24 /PRNewswire-FirstCall/ -- deCODE genetics, Inc. (Nasdaq:DCGN) today announced the approval of all of its "first day" motions by the U.S. Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"). deCODE last week filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code with the Bankruptcy Court. The orders issued by the Bankruptcy Court allow the company to continue to operate its business during the...

2009-11-18 08:16:00

WEXFORD, Pa., Nov. 18 /PRNewswire/ -- PTC Alliance (www.ptcalliance.com), a leading manufacturer and marketer of welded and cold drawn mechanical steel tubing and tubular shapes, fabricated parts, precision components and chrome-plated rod, said today the Company's Chapter 11 restructuring is continuing to progress, citing a recent court ruling. On November 12, The Hon. Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware authorized the Company to obtain up to...

2009-11-17 15:43:00

TROY, Mich., Nov. 17 /PRNewswire-FirstCall/ -- Champion Enterprises, Inc. (NYSE: CHB), a leader in factory-built construction, today announced that Honorable Judge Kevin Gross of the U.S. Bankruptcy Court in Wilmington, Delaware, has approved a package of relief designed to facilitate and ensure the continued and uninterrupted operation of Champion's business, as requested. "The Company has worked very hard to formulate the special relief it would need so that its transition into...

2009-11-15 19:47:00

TROY, Mich., Nov. 15 /PRNewswire-FirstCall/ -- Champion Enterprises, Inc. (NYSE: CHB), a leader in factory-built construction, today announced that it and its domestic operating subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The Company is taking this action to improve its capital structure and further strengthen its competitive position. The Company's operations in the United Kingdom and Canada were not included in and will not...


Word of the Day
barratry
  • The offense of persistently instigating lawsuits, typically groundless ones.
  • An unlawful breach of duty on the part of a ship's master or crew resulting in injury to the ship's owner.
  • Sale or purchase of positions in church or state.
This word ultimately comes from the Old French word 'barater,' to cheat.
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