The coming week in bankruptcy: September 13, 2021

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  • DAVIS POLK & WARDWELL / 132-29 /

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  • THE UNITED STATES DEPARTMENT OF JUSTICE

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  • United States Import-Export Bank

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September 8 (Reuters) – Here is a look at some upcoming events of interest to the bankruptcy law community. Unless otherwise specified, all times are local and court appearances are virtual due to the COVID-19 pandemic.

Monday, September 13

10 a.m. – Purdue Pharma, after securing court approval of its reorganization plan and settlement of the $ 10 billion opioid litigation, will return to court to seek approval of up to $ 5.4 million bonus for five senior executives. The US Department of Justice bankruptcy watchdog has objected. The case is In re Purdue Pharma LP, US Bankruptcy Court, Southern District of New York, No. 19-bk-23649. For Purdue: Marshall Huebner of Davis Polk & Wardwell.

Tuesday September 14

10 a.m. – Colombian airline Avianca Holdings SA will seek approval to begin solicit votes from creditors for its proposed reorganization plan, which would eliminate about $ 3 billion in debt. The lenders would take over most of the equity in the reorganized company. The case is In re Avianca Holdings SA, US Bankruptcy Court, Southern District of New York, No. 20-11133. For Avianca: Dennis Dunne from Milbank.

Thursday September 16

2:00 p.m. – Fracking contractor Basic Energy Services will hold a hearing for sell your assets to a small group of buyers offering a combined $ 72 million, but only if they fail to secure any additional bids before the September 10 bid deadline. If more bids are received, an auction would be held and the sale audience would be pushed back to September 23. Basic Energy filed for its second bankruptcy in five years in August. The company intends to sell its assets. The case is In re Basic Energy Services, Inc., US Bankruptcy Court, Southern District of Texas, No. 21-90002. For basic energy: Alfredo Perez from Weil Gotshal & Manges.

Friday September 17th

10 a.m. – Mexican airline Grupo Aeromexico will seek approval of to modify a series of aircraft lease modifications with the Export-Import Bank of the United States to align with the company’s long-term business plan. The case is Grupo Aeromexico SAB de CV, US Bankruptcy Court, Southern District of New York, No. 20-11563. For Grupo Aeromexico: Timothy Graulich of Davis Polk & Wardwell.

Do you know of an event that could be included in Week Ahead in Bankruptcy? Contact Maria Chutchian at [email protected]

Reporting by Maria Chutchian



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