Bondoro Insights: Weekly Docket Update

This Week's Key Filings

Republic National Distributing Company, LLC

• Case Summary
  • Republic National Distributing Company has filed for Chapter 11 bankruptcy following post-pandemic demand erosion, declining alcohol consumption, the loss of key suppliers generating more than $3 billion in annual revenue, and an unsustainable debt burden, pursuing going-concern sales of its remaining markets alongside an orderly wind-down backed by a $250 million DIP facility from its existing lenders.
• DIP Terms
  • Republic National Distributing Company sought interim and final approval for a $250 million senior secured superpriority priming DIP facility from its incumbent first-lien lenders, with Wells Fargo Bank, National Association as administrative agent, to fund an expedited going-concern sale process and orderly wind-down after entering Chapter 11 with roughly $5.3 million of cash. The facility pairs $75 million of new-money revolving loans—up to $50 million available on the interim order—with a $175 million roll-up of prepetition obligations: approximately $66.3 million of Fourteenth Amendment priority delayed-draw term loans rolled up on the interim order at a roughly 1.3:1 ratio, and $108.7 million of ABL revolving loans rolled up only upon entry of the final order, for an aggregate 2.4:1 new-money-to-roll-up ratio. Pricing is SOFR + 8.50% with 3.00% closing and 2.00% exit fees, maturing 90 days after closing subject to a 60-day extension with Required DIP Lender consent, and governed by milestones requiring binding purchase agreements for section 363 sales within 30 days of the petition date, a confirmation or sale order within 70 days, and plan effectiveness or sale closing within 75 days.

ASP Unifrax Holdings, Inc.

• Case Summary
  • ASP Unifrax Holdings has filed for Chapter 11 bankruptcy amid weakened global industrial demand, Chinese supply overcapacity, declining electric vehicle sales, and an unsustainable $3.5 billion funded-debt load, pursuing a prepackaged restructuring to eliminate approximately $3.1 billion of funded debt, backed by a $630 million DIP facility (including $315 million of new money) and a Restructuring Support Agreement supported by holders of 99% of first lien claims.
• DIP Terms
  • ASP Unifrax Holdings filed an emergency motion seeking interim and final approval of a $630 million superpriority, priming DIP term loan and note purchase facility agented by Wilmington Savings Fund Society that pairs $315 million of new money—$265 million available upon the interim order and $50 million upon the final order—with a cashless, dollar-for-dollar roll-up of $315 million of prepetition first lien debt, priced at SOFR plus 8.375% with up to 50% payable in kind and maturing on the four-month anniversary of the petition date, with proceeds used in part to repay approximately $188 million of prepetition first lien revolving loans.

Omnis Pleasants, LLC

• Case Summary
  • Omnis Pleasants has filed for Chapter 11 bankruptcy following alleged fraud and gross mismanagement by prior management, defaults across approximately $70.8 million in funded debt and guarantee obligations, and an ongoing FERC investigation, pursuing a value-maximizing sale of its 1,278-megawatt West Virginia coal-fired plant with the support of first-lien lenders TRAG and RG Energy and unsecured creditor the West Virginia Economic Development Authority.

Poolin Technology PTE. Ltd

• Case Summary
  • Poolin Technology and its affiliates filed for Chapter 11 bankruptcy after China’s Bitcoin mining ban, cryptocurrency market declines, Poolin Wallet’s suspension of withdrawals and issuance of approximately $163.7 million in Wallet Holder IOUs, and sustained losses at their U.S. operations. The Debtors are pursuing an orderly sale process and liquidating plan, with Thor CALAP serving as the stalking-horse purchaser under separate $15 million Pyote and $37 million Tarbush asset purchase agreements, representing $52 million in aggregate across the two independent transactions.
• Bidding Procedures Summary
  • Poolin Technology filed an amended motion to establish bidding procedures for the sale of substantially all assets at its two Texas digital-asset mining and equipment-hosting facilities, designating Thor CALAP as stalking horse with separate $37 million cash and assumed-liability and $15 million cash bids for the Tarbush and Pyote assets, respectively, ahead of a Sept. 8 bid deadline and Sept. 10 auction.

Trajector Holdings, LLC

• Case Summary
  • Trajector has filed for Chapter 11 bankruptcy amid regulatory and legislative headwinds, class action litigation, governance disputes, and the approaching maturity of approximately $62.9 million in secured debt following unsuccessful refinancing efforts. The Company is pursuing a value-maximizing restructuring and has requested authority to use cash collateral to fund continued operations.

Magellan Aerospace, Middletown, Inc.

• Case Summary
  • Magellan Aerospace, Middletown has filed for Chapter 11 protection amid declining revenue from wound-down and cancelled aerospace contracts and substantial legacy environmental liabilities tied to historical operations and predecessor entities in Torrance and San Diego, California — including a February 2026 DTSC order and a March 2026 jury verdict finding the Debtor liable for over $5.2 million in past costs and 25% of remediation costs estimated at $25 to $64 million. The Debtor has obtained a proposed $20 million DIP revolving credit facility from parent Magellan Aerospace USA, with $2 million available on interim approval and a three-to-one roll-up of prepetition unsecured loans, subject to court approval.
• DIP Terms
  • Magellan Aerospace, Middletown received interim and final approval of a $20 million revolving new-money DIP facility from its parent, Magellan Aerospace USA, Inc., with up to $2 million available on an interim basis and, upon final approval, a 3:1 roll-up of prepetition unsecured intercompany debt, calculated on amounts drawn and capped at $60 million, that would receive DIP liens and superpriority status.

Phoenix Converting, Inc.

• Case Summary
  • Phoenix Converting entered Chapter 11 over-levered from a December 2020 Main Street Lending Program term loan it could no longer service or refinance, after cost inflation, industrywide destocking, and customer insourcing held cash flow below projections. City National Bank of Florida, the lender under that loan and the Debtors' senior secured creditor, sued in May 2026 alleging approximately $34.3 million due and liens on substantially all assets. The Debtors say the Bank rebuffed their repeated prepetition attempts to negotiate DIP financing or consensual use of cash collateral, leaving them to seek interim authority to use cash collateral over the Bank's non-consent while pursuing an expedited going-concern sale.

DISH DBS Corporation

• Plan Terms
  • DISH DBS's amended Chapter 11 plan advances a bifurcated restructuring under a March 19, 2026 restructuring support agreement with EchoStar, non-debtor DNC, and consenting creditors, whereby the DBS Debtors reinstate their senior secured and senior notes as amended take-back notes — with the 2026 senior notes paid in full in cash — funded by an approximately $7.6 billion sweep of DNC's 2021 intercompany loan repayments, while the DISH Wireless Debtors pursue a going-concern sale to stalking-horse bidder EchoStar backed by an EchoStar debtor-in-possession facility, coupled with the FCC-approved assignment of 3.45 GHz and 600 MHz spectrum licenses to AT&T and a $2.4 billion FCC-directed Wireless Creditor Trust, with DISH Wireless general unsecured note recoveries capped at $300 million through the DWLLC Claims Trust.

Sleep Number Corporation

• APA Summary
  • Sleep Number obtained entry of a sale order approving the free-and-clear sale of its assets to SNBR Inc., an affiliate of Sleep Country Canada backed by an equity commitment from Fairfax Financial Holdings, as successful bidder following a July 13 auction. Under an amended and restated asset purchase agreement dated July 18, the cash purchase price rose to $529.5 million from $415 million under the original stalking horse bid, and the debtors ascribed a further $172.3 million of value to amended terms that shift costs to the buyer, bringing total adjusted cash consideration to $701.8 million. Proceeds are directed first to a reserve for Guggenheim Securities' transaction fee and then to repayment of the DIP obligations, with closing subject to HSR clearance and barred before July 31 absent the purchaser's consent.

FreshRealm, Inc.

• Plan Terms
  • FreshRealm's joint liquidating Chapter 11 plan is premised on the consummation of one or more section 363 sales to Misfits Market or other purchasers. Sale proceeds, Excess Cash, and other collateral proceeds are channeled through a distributable waterfall that first repays the $18 million of DIP new money loans and then, depending on the type of collateral, the $38 million of roll-up loans — comprising $22.8 million of first lien and $15.2 million of second lien term loans rolled up under the Final DIP Order — before reaching the remaining prepetition first lien and second lien obligations, which stood at not less than $51,327,785.56 and not less than $117,400,000 in principal, respectively, as of the Petition Date. Supporting the waterfall is a court-approved Blue Apron settlement furnishing $32 million in deferred payments to the DIP Agent, guaranteed by Wonder Group, Inc., which are credited against the DIP loans in the amount of the discounted Deemed DIP Paydown Amount, together with a $500,000 liquidating trust contribution. General unsecured creditors — including holders of the Allowed first and second lien deficiency claims — receive pro rata liquidating trust interests, while existing equity interests and section 510(b) claims are cancelled without recovery and the estates continue after the Effective Date as Wind-Down Debtors under a Plan Administrator alongside the Liquidating Trust.

Goldenpeaks Poland Holding Limited

• Plan Terms
  • GoldenPeaks Poland Holding’s orderly wind-down plan centers on a competitive sale of substantially all assets, with a Brookfield-affiliated stalking horse permitted to credit bid the full amount of its DIP and prepetition credit facility claims, whereby cash sale proceeds would repay allowed DIP claims in full while a Brookfield acquisition could extinguish or equitize those claims, funded secured creditors would recover from applicable collateral or agreed sale treatment, and general unsecured creditors would receive 10% of net proceeds from a $500,000-funded liquidation trust holding retained causes of action, with Brookfield receiving the remaining 90%.

Searles Valley Minerals Inc.

• DIP Terms
  • Searles Valley Minerals obtained final approval for a $20 million secured term loan DIP facility (subject to increase via the LC Upsize) from Karnavati Holdings, an affiliate of the Debtors, comprising a $7.5 million interim tranche (of which $7 million was funded) and an additional $12.5 million authorized upon entry of the final order. The affiliated lender was granted a superpriority administrative claim and the right, under section 363(k), to credit bid up to the full amount of the DIP obligations. The financing is supported by a separate liquidity advance of up to $20 million from the Supplier under the Soda Ash Supply and Liquidity Agreement — guaranteed, subject to certain conditions, by affiliate Nirma Limited — and by the consensual use of prepetition secured lender HSBC Bank USA's cash collateral.

John Fitzgibbon Memorial Hospital, Inc.

• APA Summary
  • John Fitzgibbon Memorial Hospital obtained final approval to sell substantially all assets related to their licensed healthcare facilities in Slater, Marshall and Pilot Grove, Missouri, to Strawberry Fields REIT and its affiliates for a purchase price of $8.452 million, subject to a $500,000 twelve-month holdback, with net proceeds funding specified creditor distributions and repayment of approximately $4.137 million of DIP principal and interest, plus fees, and a transition services agreement supporting continued operations and patient care for up to 12 months.

Crosby Marine Transportation, LLC

• Bidding Procedures Summary
  • Crosby Marine Transportation obtained final approval of bidding procedures for the sale of some or all of their assets, authorizing — but not requiring — the designation of one or more stalking horse bidders by an outside date of July 29 (subject to extension), with any break-up fee capped at 3% and combined bid protections at 5% of the applicable purchase price, ahead of an Aug. 7 bid deadline and Aug. 13 auction at which secured creditors, including DIP lender JMB Capital Partners Lending, may credit bid against their respective collateral.'

CashCall, Inc.

• DIP Terms
  • CashCall filed a motion seeking interim and final approval of an up to $3.995 million secured, superpriority DIP revolving credit facility from insider lender Absolutely Zero Corporation—owned by the debtor's sole shareholder J. Paul Reddam—with $1.3 million available upon entry of the interim order and the balance upon the final order, carrying below-market payment-in-kind interest that accrues to principal until maturity, no origination or other fees, and a December 31, 2026 maturity date.

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-led case summaries.

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