TGI Fridays won approval of its Chapter 11 liquidation plan, Spirit Airlines secured approval for the $58.5 million sale of LaGuardia gate slots to JetBlue, and CashCall received interim approval for Chapter 11 financing. Meanwhile, one of SIMAD's summer camp sales faced opposition from camp-goers' parents and Akorn reached a settlement allowing its asset buyer an $18.5 million unsecured claim.
A slew of recent objections to First Brands Group's Chapter 11 plan has put fresh attention on the company's bid to pay high-ranking administrative expenses from future litigation, a structure that experts told Law360 may contravene bankruptcy rules and spook vendors in future cases.
A restaurant chain operator and a car parts maker will both go before Texas bankruptcy judges seeking confirmation of their Chapter 11 plans, and an investment platform will seek to compel its liquidation trustee to perform the role's duties.