Boy Scouts of America's insurers have challenged the validity of sexual abuse claims brought after a legal advertising campaign saw claims grow from 1,700 to over 95,000, asking a Delaware bankruptcy judge to allow discovery on individuals and attorneys who filed claims in the organization's Chapter 11 case.
Bankrupt home improvement lender Renovate America Inc. pushed off a looming fight with unsecured creditors over its Chapter 11 sale terms Friday after its bankruptcy lender and stalking horse bidder agreed to add one week and $5 million to its original $18 million interim loan deadline.
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Home Improvement Finance Firm Can Tap $18M Ch. 11 Loans
Law360 (December 23, 2020, 7:25 PM EST) Renovate America, a firm that provides home improvement financing services, received permission Wednesday in Delaware bankruptcy court to borrow $18 million in Chapter 11 loans as it seeks to sell its contractor and homeowner loan programs.
During a virtual first-day hearing, debtor attorneys said the interim approval from U.S. Bankruptcy Judge Laurie Selber Silverstein made the $18 million available immediately, with a final ask of $50 million coming next month.
Sharon Z. Weiss of Bryan Cave Leighton Paisner LLP said the debtor needed the money to pay down some of its existing debt while also funding its ongoing operations, including continuing.
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White Stallion Energy LLC obtained court approval to access cash to fund its bankruptcy case, which took a complicated turn over the weekend that has left lenders battling over rights to the coal producer’s property and its ability to survive unclear.
At the conclusion of a virtual hearing on Monday, U.S. Bankruptcy Judge Laurie Selber Silverstein in Wilmington, Delaware approved, on an interim basis, White Stallion’s request to use cash collateral belonging to lender KeyBank. KeyBank, represented by Reed Smith, agreed to fund the case after another lender group that had already provided the company $1.4 million in bankruptcy financing announced on Friday that it would not provide the full $12.6 million it initially pledged.