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FITNESS INTERNATIONAL: Moody’s Cuts CFR to Caa3, Outlook Still Neg.

Moody’s Investors Service downgraded Fitness International, LLC’s Corporate Family Rating to Caa3 from Caa1, Probability of Default Rating to Caa3-PD from Caa2-PD, and first lien bank credit facilities to Caa3 from B3. The outlook is negative. The downgrade reflects the recent surge in coronavirus cases in states on the West coast, South, Southwest and the…

BRIGGS & STRATTON: Taps Houlihan Lokey as Investment Banker

Briggs & Stratton Corporation and its affiliates received provisional approval from the U.S. Bankruptcy Court for the Eastern District of Missouri to employ Houlihan Lokey Capital, Inc. as their investment banker. The firm will render the following services: (a) Assist Debtors in the development and distribution of selected information, documents and other materials in an…

WINDSTREAM HOLDINGS: Expects to Complete Restructuring in August

Windstream Holdings, Inc., a leading provider of advanced network communications and technology solutions, announced that the U.S. Bankruptcy Court for the Southern District of New York has confirmed the Company’s Plan of Reorganization. The Company expects to complete its financial restructuring process and emerge from Chapter 11 bankruptcy protection as a privately held company in…

BRIGGS & STRATTON: Seeks to Hire Weil Gotshal as Legal Counsel

Briggs & Stratton Corporation and its debtor affiliates seek approval from the U.S. Bankruptcy Court for the Eastern District of Missouri to employ Weil, Gotshal & Manges LLP as their attorneys. The firm will render these professional services to the Debtors: (a) prepare on behalf of the Debtors, as debtors-in-possession, all necessary motions, applications, answers,…

FRONTIER COMMUNICATIONS: SEC Objects to Plan & Disclosure

The U.S. Securities and Exchange Commission (“SEC” or “Commission”), the federal agency responsible for enforcement of the federal securities laws, objects to approval of the Disclosure Statement and confirmation of the Chapter 11 Plan of Frontier Communications Corporation and its affiliated debtors dated May 14, 2020. In support of its limited objection, the Commission respectfully…

VIRGINIA TRUE: Up to 87% for Unsecureds in Diatomite Plan

Diatomite Corporation of America, filed a proposed Chapter 11 Creditor Plan of Liquidation for debtor Virginia True Corporation. In April 2017, Debtor acquired from Diatomite a 977-acre parcel of undeveloped land located within the environmentally-protected Fones Cliffs area in Richmond County, Virginia (the “Property”), with the intent to develop a resort and build a hotel,…

FRONTIER COMMUNICATIONS: First Lien Lenders Say Plan Unconfirmable

The ad hoc committee of certain unaffiliated holder, of Frontier Communications Corporation, et al.’s outstanding first lien debt objects to the Debtors’ motion seeking approval of the disclosure statement. The First Lien Committee points out that the Disclosure Statement should not be approved because the Plan it describes is patently unconfirmable. The First Lien Committee…

CHESAPEAKE ENERGY: U.S. Trustee Appoints Royalty Owners’ Committee

Henry Hobbs Jr., acting U.S. trustee for Region 7, appointed nine creditors to the committee of royalty owners in the Chapter 11 cases of Chesapeake Energy Corp. and its affiliates. The committee members are: 1. B.D. Griffin501 N. Thompson, Suite 300Conroe, TX 77301Tel: 936-520-7221/936-538-8202Fax: 936-760-6920Email: bd.griffin@mctx.org Counsel: Circelli, Walter & Young, PLLCGeorge Parker Young, Esq.500…