December 16, 2016
Laundry detergent maker Phoenix Brands LLC said in a filing made in Delaware on Thursday that a plan to move its remaining assets into a liquidating trust as part of its Chapter 11 plan is the best option for the company's unsecured creditors, who will share in the proceeds of the liquidation for the next two years.
November 21, 2016
A Delaware bankruptcy judge gave Phoenix Brands LLC the green light Monday to poll creditors on its plan to distribute the roughly $30 million raised from asset sales, after the defunct laundry detergent maker cut a deal with its largest unsecured creditor to keep the case in Chapter 11.
October 21, 2016
Phoenix Brands LLC's largest unsecured creditor called for the conversion of the company's Chapter 11 bankruptcy into a Chapter 7 liquidation Friday, citing lack of progress or direction in distributing proceeds from the sale of the company's business units.
October 20, 2016
Bankrupt laundry detergent maker Phoenix Brands LLC reached an agreement Wednesday that resolves unsecured creditors' objections to the company's request to extend the period during which it has the exclusive right to file a Chapter 11 plan.
October 18, 2016
The official committee of unsecured creditors of cleaning products maker Phoenix Brands LLC said Monday that the company's request to extend its time to file a Chapter 11 plan should be denied because all it has left to do is disburse the proceeds of its asset sales.
September 29, 2016
The unsecured creditors committee in the Phoenix Brands LLC bankruptcy case on Thursday took issue with the laundry detergent maker's request to keep exclusive control of its case through mid-January, arguing that the debtor is taking too much time to wrap up what should be a simple case.
August 17, 2016
Bankrupt laundry detergent maker Phoenix Brands LLC proposed an employee severance and incentive program in Delaware bankruptcy court Tuesday, seeking permission to pay out more than $1 million to workers who helped transition the company’s assets to new owners following a Chapter 11 auction.
August 09, 2016
Phoenix Brands LLC told the Delaware bankruptcy court on Tuesday that it intends to float a bonus plan for employees, including at least one insider, to keep them onboard while the laundry detergent and fabric dye maker winds down its case after raising roughly $30 million from asset sales.
July 18, 2016
Laundry detergent and fabric dye maker Phoenix Brands LLC sold its three major product lines Monday in a series of transactions that will net the bankrupt company's estate more than $30 million to help satisfy its debt obligations and move it closer to a resolution of its Chapter 11 case.
June 08, 2016
Bankrupt laundry product maker Phoenix Brands LLC received approval for its $23 million interim financing and bid procedures to sell off its three business units Wednesday from a Delaware federal judge after a rigorous 48 hours of negotiations.