Bondoro Insights: Weekly Docket Update

This Week's Key Filings

Vanderbilt Minerals, LLC

• Case Summary
  • Vanderbilt Minerals has filed for Chapter 11 bankruptcy to address mounting talc-related litigation liabilities, including over $117 million in accrued defense and indemnity costs and escalating adverse jury verdicts, pursuing a court-supervised asset sale process after unsuccessful prepetition marketing efforts.
• Bidding Procedures / APA Summary
  • Vanderbilt Minerals filed a motion to establish bidding procedures for a sale of substantially all assets, designating Commodore Materials as stalking horse bidder with a $50 million bid (comprised of a credit bid plus $35 million cash) subject to a $2 million break-up fee and $1 million expense reimbursement, proposing a March 26 bid deadline and April 2 auction ahead of an April 7 sale hearing, with the stalking horse bidder committed to continuing operations as a going concern and offering employment to substantially all employees.
• DIP Terms
  • Vanderbilt Minerals filed a motion for interim and final approval of a $15 million senior secured superpriority DIP term loan facility from Commodore Material Funding (also the proposed Stalking Horse Bidder), providing $6.5 million on an interim basis and the full $15 million upon entry of a final order to support operations and a court-supervised sale process.

Avenger Flight Group, LLC

• Case Summary
  • Avenger Flight Group has filed for Chapter 11 bankruptcy to address an unsustainable debt load accumulated through rapid expansion, industry headwinds including the Pratt & Whitney engine issue requiring accelerated inspection that grounded A320neo aircraft, and the bankruptcies of key customers including Spirit Airlines, pursuing a value-maximizing sale of substantially all assets backed by $43.5 million in DIP financing from existing lenders.
• Bidding Procedures Summary
  • Avenger Flight Group filed a motion to establish bidding procedures for a sale of substantially all assets to stalking horse bidder AFG Topco (an affiliate of prepetition term loan and DIP lenders with credit bid rights), proposing a March 27 bid deadline and April 2 auction, with the stalking horse entitled to a $2 million expense reimbursement and the process requiring qualified bids to constitute a Topping Bid exceeding the Stalking Horse Bid (anchored by a $125 million credit bid) plus the Expense Reimbursement and a $500,000 minimum increment.
• DIP Terms
  • Avenger Flight Group obtained interim approval for a $43.5 million super-priority DIP facility from prepetition term loan lenders, comprising $14.5 million in new money (with $8 million available on an interim basis) and a $29 million roll-up of prepetition debt split between a $6 million bridge loan component and $23 million term loan component, priced at SOFR+9% PIK for new money and SOFR+9.5% PIK for roll-up loans, with a maturity date that is the earliest of 90 days post-petition, 30 days post-petition if the final order has not been entered, or the consummation of an asset sale, among other triggers.

Archblock LLC

• Case Summary
  • Archblock has filed for Chapter 11 bankruptcy following the collapse of critical banking partners, exposure to the defaulted Aria Fund involving over $500 million in combined investments by TrueCoin and subsequent buyer Techteryx, loss of its primary revenue stream from Techteryx's non-payment, a failed fund platform launch amid regulatory uncertainty, and a $3 million fraud by a sophisticated criminal enterprise, pursuing an orderly wind-down while resolving multiple complex litigations with Prime Trust, Celsius, and former business partners.

ER of Texas, LLC

• Case Summary
  • ER of Texas has filed for Chapter 11 bankruptcy following rapid debt-fueled expansion and overleveraging that left revenues insufficient to service obligations, seeking to continue operating its Dallas-Fort Worth emergency medical facilities while pursuing a value-maximizing sale or reorganization.

Aleon Metals, LLC

• Plan Terms
  • Aleon Metals’ joint liquidation plan follows a $187.5 million credit-bid sale that paid the DIP in full, unsecured creditors with roughly $280.7 million in claims will receive GUC Trust Interests entitling them to pro rata distributions from a GUC Trust funded with at least $757,500 in cash plus commercial tort claims, remaining avoidance actions, and D&O insurance rights and overseen by a three-member committee, distributions include $250,000 in cash, or any unused portion, plus any recoveries from retained trust claims to all holders including deficiency claim holders, and an additional $440,000 cash pool for holders of Allowed GUCs excluding deficiency claim holders, estimated recovery is approximately 0.22%.

Food52, Inc.

• Bidding Procedures / APA Summary
  • Food52 obtained approval of bidding procedures to sell substantially all assets across three discrete lots. F52, LLC was designated as the stalking horse bidder for the core Food52 assets, with a purchase price subsequently amended to approximately $9.9 million (including a $3.42 million DIP credit bid) ahead of a Feb. 3 bid deadline. Separate APAs were also approved for the Schoolhouse brand (buyer: Troy-CSL Lighting, Inc.; $2.2 million) and Dansk Designs (buyer: Form Portfolios LLC; $250,000 plus waiver of admin. expense claims), with all three sales targeting a Feb. 13, 2026 closing and an Outside Date of Feb. 28, 2026.

White Rock Medical Center, LLC

• Bidding Procedures Summary
  • White Rock Medical Center obtained approval of bidding procedures to sell certain hospital equipment assets with no stalking horse or bid protections designated, an April 3 bid deadline, an April 9 auction, and a Sale Hearing set for April 15 before Judge Perez in the Southern District of Texas.

Meyer Burger (Holding) Corp.

• Plan Terms
  • Meyer Burger's liquidation plan establishes a Liquidation Trust to liquidate remaining assets, primarily retained causes of action, tax refunds, and remnant claims, following the $18.5 million asset sale to Waaree and a separate credit-bid disposition of DESRI solar cells, whereby unsecured creditor recoveries are funded from trust assets after payment in full of approximately $10.4 million in new-money DIP obligations and partial satisfaction of approximately $15.2 million in rolled-up DIP debt, all structured under a global settlement that treats intercompany claims as unsubordinated general unsecured claims and channels WARN Act priority recoveries exclusively from the unsecured creditor pool.

Saks Global Enterprises LLC

• Consulting Agreement Summary
  • Saks Global Enterprises obtained final approval of store closing procedures and a consulting agreement with GA Retail Solutions, LLC to conduct store closing sales at 59 retail locations, with sales commencing on or about January 31, 2026 and concluding by May 31, 2026, pursuant to which the consultant will receive tiered base fees of 2.0%-2.4% of Gross Proceeds based on recovery rate relative to retail price and 15% on FF&E sales, with a $2.8 million expense budget for advertising and supervision costs; the order also authorized employee bonus programs and approved modifications to certain customer programs.

Carbon Health Technologies Inc.

• Bidding Procedures Summary
  • Carbon Health Technologies obtained approval of bidding procedures to sell all, substantially all, or any part of its assets—including a network of 93 urgent care and primary care facilities and its proprietary CarbyOS software platform—with a March 6 bid deadline and March 11 auction, subject to credit bid rights by DIP and prepetition lenders and reserving the right to toggle to a debt-for-equity plan if no acceptable enterprise bids are received.

Eddie Bauer LLC

• Bidding Procedures / APA Summary
  • Eddie Bauer obtained approval of bidding procedures to sell all, substantially all, or any portion of its assets, authorizing designation of a stalking horse bidder by Feb. 27 with a break-up fee not to exceed 3% of purchase price, ahead of a March 3 bid deadline and March 6 auction.

Luminar Technologies, Inc.

• Plan Terms
  • Luminar Technologies' liquidation plan centers on a dual-asset sale process, the $110 million cash sale of LSICo to Quantum Computing and the $33 million auction-winning bid by Micro Vision for LiDARCo assets, whereby $89.35 million of LSICo proceeds fund an Asset Sale Offer redeeming at least 80% of the $104.4 million in 1L Notes at 103%, with residual secured claims and a 0–1% recovery for approximately $519 million in general unsecured claims administered through a Liquidation Trust seeded with a $1.5 million GUC reserve, retained causes of action, and unencumbered assets, all underpinned by a Global Settlement among the Debtors, the Ad Hoc Noteholder Group holding 91.3% of 1L Notes and 85.9% of 2L Notes, and the Creditors' Committee.

About Bondoro Insights Summaries

Our goal with Bondoro Insights is to provide you with faster, broader coverage on active Chapter 11 cases. These summaries are generated by Bondoro's proprietary AI, tuned on our historical coverage and validated against source filings. While accuracy is a priority, they are intended for immediate informational purposes, may contain errors, and are not a substitute for professional or legal advice. Please refer to the source filings for definitive information.

This AI-powered coverage is designed to supplement our comprehensive, analyst-written case summaries.

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