Bondoro Insights: Weekly Docket Update

This Week's Key Filings

Air Baltic Corporation AS

• Case Summary
  • Air Baltic filed for Chapter 11 bankruptcy following a 2026 jet fuel price spike tied to the Iran-U.S. conflict that hit the roughly 90% unhedged carrier, compounded by Pratt & Whitney PW1500G engine shortages that grounded aircraft, the suspension of Russian, Belarusian, and Ukrainian routes, and a repeatedly delayed IPO, seeking to shrink its fleet, reprofile aircraft lease obligations, and restructure approximately €503.3 million ($583.9 million) of funded debt, backed by a €350 million ($406 million) DIP facility from Barclays, Hayfin Capital Management, Morgan Stanley, Oaktree Capital, and Strategic Value Partners.
• DIP Terms
  • Air Baltic is seeking interim approval of a €350 million all-new-money, superpriority priming DIP term loan. Strategic Value Partners arranged the facility, SVP, Barclays, Hayfin, and Oaktree entities committed to it, and GLAS USA serves as administrative agent. Of the €175 million Tranche 1, €140 million would be available on an interim basis. The loan is priced at Term SOFR plus 8% with a PIK toggle. The facility carries backstop, upfront, and exit fees of 5% each, calculated on the full commitment. Initial proceeds would fund an approximately €71.7 million payoff of Export Development Canada and Axiom debt. That payoff would let the Debtors exercise purchase options on 15 finance-leased aircraft and engines plus a simulator, which they say unlocks roughly €170 million of unencumbered value. Priming of the prepetition bond collateral is deferred to the final order and a separate priming order.

PGR Lessee I, LLC

• Case Summary
  • PGR Lessee I has filed for Chapter 11 bankruptcy following an August 2026 New York court order requiring it and affiliated indemnitors to post approximately $30.2 million of collateral under a surety indemnity agreement the Debtors contend the former managing member of their parent joint venture entered into without authority, alongside persistent cash flow deficits against roughly $129.3 million of project-level secured debt on the Debtors' seventeen solar facilities. The Debtors are pursuing a strategic restructuring that may include a court-supervised sale of substantially all assets, supported by proposed consensual use of cash collateral and anticipated debtor-in-possession financing under discussion with parent Back Bay Capital.

LIV Golf New Jersey LLC

• Case Summary
  • LIV Golf has filed for Chapter 11 bankruptcy after The Public Investment Fund of the Kingdom of Saudi Arabia declined to provide further equity funding, having invested approximately $5 billion since the league's inception. The league operated at a loss in every year of its five-year span of operations. The cases are engineered around a going-concern reorganization anchored by a $300 million investment from BC Partners, with an orderly wind-down through a liquidating trust as the alternative; a $49.6 million new-money DIP facility from PIF is sized to fund the Debtors through either outcome.
• DIP Terms
  • LIV Golf obtained interim approval for a $49.6 million senior secured, superpriority, priming new-money DIP facility from the Public Investment Fund of the Kingdom of Saudi Arabia, which is also its prepetition lender and an equity holder in the debtors. The interim order authorizes a $14 million draw and matches each funded advance dollar-for-dollar with a cashless roll-up of the lender's prepetition claims, which the debtors stipulate at not less than $495 million. The loans bear 12% fixed interest that defaults to payment in kind, with a scheduled maturity 120 days after the Sept. 8, 2026 petition date.

Republic National Distributing Company, LLC

• Plan Terms
  • Republic National Distributing's first amended Chapter 11 plan centers around a two-part equityholder settlement delivering $50.25 million in cash, $40 million from the National Distributing Company group and $10.25 million from the New BG Distribution Partners group, and eliminating their second lien, owner note, and deferred compensation claims. Estate causes of action the debtors' D&O insurance would cover are not released but conveyed to a litigation trust, funded with $5 million of settlement cash earmarked for general unsecured creditors plus $5 million of estate cash, and recoverable solely from policy proceeds after the defendants' covered defense costs. Trust distributions run 60% to the lender claimholders until that funding is repaid, then invert to 60% for general unsecured creditors and reach 100% for them once the DIP and prepetition secured obligations are paid in full.

DAMIS Holdings LLC

• Bidding Procedures Summary
  • DAMIS Holdings obtained final approval for sale procedures to market all or substantially all of their multifamily, office, hotel and retail properties, or any subset, through one or more auctions, private sales or stalking-horse-led sales, with no stalking horse bidder designated to date and deadlines running off a sale commencement date set separately for each acquisition package, including a bid deadline no sooner than 30 days thereafter and an auction at least three days later, and with bid protections capped at a break-up fee of 2% of the cash portion of the purchase price and an expense reimbursement of 1%, payable in cash solely from the proceeds of the applicable sale.

Alea Holdings US Company

• Plan Terms
  • Alea Holdings' confirmed Chapter 11 plan effects a sponsor-backed reorganization facilitated by Section 363 private sales of the debtor's equity in non-debtor insurers Alea North America Insurance Company and National American Insurance Company of California, whereby plan sponsor and prepetition revolver lender Catalina Finance's $160 million of allowed facility claims may be satisfied through any combination of a residual cash pool, a replacement note, conversion into reorganized AHUSCO equity, and/or reinstatement. Holders of $120 million in allowed TruPS claims share a $20 million cash pool distributed through indenture trustee Wilmington Trust, with Catalina waiving its own ratable share, general unsecured claims are reinstated unimpaired, and Catalina's $35 million postpetition facility is allowed as a superpriority claim payable in cash or on prepetition facility terms.

Francesca's Acquisition, LLC

• Plan Terms
  • Francesca's Acquisition's court-confirmed combined disclosure statement and joint plan of liquidation, co-proposed with the official committee of unsecured creditors, winds down the boutique retailer's estates following the completed $7 million Section 363 sale of its intellectual property to Stand Out for Good and chain-wide going-out-of-business sales. At its center is a global settlement under which the prepetition secured lenders pay $3 million to the estates and fully fund a $1.02 million carve-out in exchange for releases. A liquidating trust under Tracy L. Klestadt retains all avoidance actions and insider claims and shares tax refund and litigation proceeds with the lenders under a waterfall paying the first $500,000 to the lenders, the next $500,000 to the estates and 50/50 thereafter, with general unsecured creditors receiving pro rata distributions from the balance of trust proceeds.

Diocese of Alexandria

• Plan Terms
  • Diocese of Alexandria's amended plan of reorganization centers on a Plan Trust that channels abuse and other general unsecured claims away from the continuing diocese, funded with a $500,000 Settlement Payment satisfiable in cash, real property credited at fair market value, or a combination, plus the diocese's assigned interests in insurance policies written between 1972 and 2022, whereby the reorganized debtor pays Southern Heritage Bank's roughly $1.65 million secured claim in full from operating cash and lender financing while retaining the right to withdraw the plan if the court fixes the Class 4 liquidation value above $1.5 million.

Pacifica of the Valley Corporation

• Bidding Procedures Summary
  • Pacifica of the Valley filed a motion to approve auction and bidding procedures for a sale of substantially all assets of its 231-bed Sun Valley, California, safety-net hospital, with no stalking horse designated and none required, authorizing the debtor to designate one in its discretion up to 24 hours before a mid-to-late October auction with bid protections capped at 2.5% of the proposed purchase price.

Omnis Pleasants, LLC

• Bidding Procedures Summary
  • Omnis Pleasants obtained approval of bidding procedures to sell all or substantially all of its assets, including the Pleasants Power Station in Belmont, West Virginia, authorizing but not requiring the designation of a stalking horse bidder by Oct. 22, 2026 ahead of a Nov. 9, 2026 bid deadline and, if more than one qualified bid is received, a Nov. 12, 2026 auction, with no bid protections approved and secured parties TRAG and RG Energy, along with any other holder of a perfected security interest in the assets, permitted to credit bid up to the full amount of their claims.

BFG Supply Co., LLC

• Bidding Procedures Summary
  • BFG Supply obtained approval of bidding procedures to sell substantially all assets, authorizing the designation of one or more stalking horse bidders by Sept. 28 with break-up fees capped at 3% subject to the DIP agent's consent, and setting an Oct. 2 bid deadline and Oct. 6 auction ahead of an Oct. 14 sale hearing, with the DIP and prepetition agents permitted to credit bid their secured claims.

Simply Interior Homes, LLC

• Plan Terms
  • Simply Interior Homes' second amended combined disclosure statement and Chapter 11 plan of liquidation centers on a liquidating trust funded by roughly $3 million of brand intellectual property sale proceeds from a July 30 auction won by YMF Carpets and Beatrice Home Fashions and approximately $2 million of SB360-run inventory and receivables collections, facilitated by a global settlement under which the creditors' committee forgoes lien challenges in exchange for the DIP and prepetition secured parties' consent to fund the wind-down and share recoveries through a four-tranche waterfall allocating up to $2 million of a $6.5 million second tranche and 30% of a $5 million third tranche to general unsecured creditors, whose projected 0% to 37% recovery turns largely on retained causes of action against Centre Lane Partners and Live Comfortably.

Southern Motion, Inc.

• DIP Terms
  • Southern Motion obtained interim approval for a $5 million recourse factoring DIP facility from Porter Capital that is expandable to $6 million at Porter's sole discretion and permits advances of up to 70% of eligible receivables, with interest at WSJ prime plus 2%, an additional 0.85% discount fee on each purchased receivable's face amount per 30-day period beginning on the invoice date, 3% origination and exit fees, and a final hearing scheduled for Oct. 7, 2026.

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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