Bondoro Insights: Weekly Docket Update

This Week's Key Filings

SteelBlue Building Components, LLC

• Case Summary
  • SteelBlue Building Components filed for Chapter 11 bankruptcy following the pause of a potential investment, reduced borrowing capacity from its lender, a significant need for capital expenditure investment, and heightened working capital demands from its expansion into installation and new market segments. The Debtors seek to use cash collateral to preserve and monetize assets while continuing operations, with adequate protection liens for Austin Financial Services, the approximately $5.2 million secured lender that the Debtors contend is well oversecured.

DISH DBS Corporation

• Plan Terms
  • DISH DBS's modified joint prepackaged plan centers on refinancing rather than equitizing its four remaining note series: holders of the 2026 and 2028 senior secured notes and the 2028 and 2029 senior notes exchange into amended notes in principal equal to their allowed principal and take cash for accrued interest and other amounts owing, while general unsecured claims and existing equity in the DBS debtors are reinstated. Those same 2028 and 2029 noteholders keep a separate, disputed claim against DISH Wireless, held for their ratable benefit by a claims trust that was assigned an $8.9 billion intercompany loan before the filing and preserved for treatment exclusively under the parallel DISH Wireless plan, and the amended 2028 senior secured notes carry a quarterly available-cash sweep beginning with the fiscal quarter ending March 31, 2027.

Republic National Distributing Company, LLC

• APA Summary
  • Republic National Distributing Company filed an emergency motion to approve a private going-concern sale of the debtors’ and certain non-debtor affiliates’ control state brokerage assets across 17 states to Martignetti for $14.5 million in cash, plus the laid-in cost of saleable vendor-of-record inventory, estimated at approximately $2 million, and the assumption of certain liabilities. The debtors propose no auction, bidding procedures or stalking horse protections and seek entry of a sale order by Sept. 18, ahead of a Sept. 22 outside date, with the required DIP and prepetition first lien lenders consenting to the sale and waiving their right to credit bid.

Sleep Number Corporation

• Plan Terms
  • Sleep Number's joint Chapter 11 plan of liquidation winds down five debtors under a plan administrator following the Court-approved sale of substantially all assets to SNBR Inc. Prepetition loan claims, allowed at $477.5 million less any amounts paid under a paydown order before the effective date, take their pro rata share of the debtors' remaining assets net of a funded plan administrator reserve, including proceeds of the retained causes of action, which the plan limits to claims related to Google's advertising practices, claims for tariff refunds, and anything the debtors, the committee, and the administrative agent agree to add. General unsecured creditors recover solely from a $3.5 million GUC trust, which is the sole consideration for the termination of the committee's challenge rights under the orders authorizing the $260 million DIP facility.

U.S. TelePacific Corp.

• Plan Terms
  • U.S. TelePacific's confirmed Chapter 11 plan is a debt-for-equity reorganization, pursued after the company cancelled its auction for lack of qualified bids. The reorganized telecom issues new equity and takes on a first lien exit facility, with warrants set aside for second lien term loan holders who certify as accredited investors. Money for unsecured creditors comes from the DIP lenders and the consenting investor under a settlement among the company, its ad hoc lender group, and the creditors' committee, with the consensual third-party release forming part of that consideration. Four impaired classes voted to accept; subordinated claims and existing equity were wiped out and deemed to reject. The order leaves FCC and state regulators' authority intact and blocks any license or control transfer until those approvals come through.

Leisure Investments Holdings LLC

• Plan Terms
  • Leisure Investments Holdings' combined disclosure statement and liquidating Chapter 11 plan winds down the estates through a liquidation trust funded with cash on hand, retained claims and sale proceeds, centering on the pending $21.5 million assignment of the Miami Seaquarium lease to Resilient Aquarium after Delphinus Blue Planet noticed termination of its purchase agreement for the Mexican assets, under which approximately $145.8 million of DIP superpriority claims recover an estimated 13% to 20% via trust beneficial interests, the $35.8 million first lien class takes 0.1% from a $50,000 pool funded solely with first lien collateral proceeds, and the $142.8 million second lien and $16.1 million general unsecured classes are projected to receive nothing, while the two Mexican dismissed debtors are wound down under Mexican law following dismissal under sections 305(a) and 1112(b).

Finch Therapeutics Group, Inc.

• Plan Terms
  • Finch Therapeutics' court-approved combined disclosure statement and liquidating Chapter 11 plan centers on an all-cash $30 million sale of substantially all remaining assets — an intellectual property portfolio of more than 160 issued and pending patents plus the debtors' rights in a $29.5 million patent judgment — to Ferring Asset Holding LLC, after Ferring topped back-up bidder Crestovo Investor at a June auction, whereby every class of claims rides through unimpaired at an estimated 100% recovery and impaired Class 5 FTG equity, the sole voting class, is cancelled in exchange for a pro rata share of available cash estimated at approximately $19 million, or roughly $11.83 per share, with $1.35 million reserved against OpenBiome Foundation's disputed claim and up to $400,000 of Crestovo's expenses reimbursed as an allowed administrative claim.

Noble Supply & Logistics, LLC

• Bidding Procedures Summary
  • Noble Supply & Logistics filed a motion to approve bidding procedures for a sale of substantially all assets, proposing an Oct. 19 stalking horse designation deadline, an Oct. 23 bid deadline and an Oct. 27 auction ahead of a Nov. 6 sale hearing, with no stalking horse bidder designated as of filing, aggregate bid protections capped at 3% of the cash portion of the purchase price, and the prepetition ABL and term loan agents permitted to credit bid subject to the cash collateral order.

S.M.F. Group Inc.

• Bidding Procedures Summary
  • S.M.F. Group obtained approval of bidding procedures to sell all or any part of the debtors' assets in one or more lots to one or more purchasers without a stalking horse bidder, setting a Sept. 29 bid deadline and an Oct. 5 auction if one is necessary, with DIP lender FHGRF LLC designated a qualified bidder under all circumstances and permitted to credit bid all or any portion of its claims against all or any portion of the assets under section 363(k).

Lurin Real Estate Holdings XXI, LLC

• Plan Terms
  • Lurin Real Estate Holdings LXIV's amended liquidating plan centers on a $41.1 million credit bid by prepetition lender BDS Mortgage Capital G, the only qualified bid submitted, for substantially all of the debtor's non-litigation assets including the Morgan Property apartment complex in St. Petersburg, Fla., against an allowed prepetition loan claim of $47.2 million. General unsecured creditors recover exclusively through a liquidating trust seeded with $50,000 from Bridge, the unused portion of committee professional fee carve-out amounts and retained causes of action, with Bridge surrendering distributions on its deficiency claim until non-insider unsecured claims are paid in full. Equity interests are canceled for no recovery, and guarantor Jon P. Venetos and other insiders except the chief restructuring officer are carved out of the plan's releases.

Quality Fresca I, LLC

• DIP Terms
  • Quality Fresca received final approval for a $1.6 million new-money, delayed multi-draw DIP facility from GR Loanco 1 LLC, an affiliate of ultimate parent Genrock Investment Fund I, LP that had bought the debtor's first-priority prepetition loans from PNC Bank three months before the Aug. 4, 2026 petition date. The priming facility carries 12.00% cash interest, a 1.5% loan fee and a Feb. 26, 2027 maturity, and rolls up none of the $16 million in stipulated prepetition secured principal.

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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