Monthly Archives: December 2016

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Basic Energy Services Emerges from Chapter 11

Basic Energy Services, Inc. To Continue Listing New Shares Of Common Stock And Resume Trading Under Ticker “BAS” Following Emergence From Chapter 11 Reorganization FORT WORTH, Texas, Dec. 22, 2016 /PRNewswire/ — Basic Energy Services, Inc. (NYSE: BAS) (“Basic” or the “Company”) today announced that the Company received approval to list its new common stock with…

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Dakota Plains Files Chapter 11

Dakota Plains Holdings, Inc.  and six of its wholly owned subsidiaries filed voluntary Chapter 11 petitions in the United States Bankruptcy Court for the District of Minnesota (the “Bankruptcy Court”) on Tuesday, December 20, 2016, initiating a process intended to preserve value and accommodate an eventual going-concern sale of Dakota Plains’ business operations. Dakota Plains…

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Violin Memory Files Chapter 11

Link to Docket: https://cases.primeclerk.com/VMEM Violin Memory has commenced a process to streamline its operations and balance sheet, while simultaneously pursuing a sale of its business to a buyer committed to supporting its core customer base. To facilitate this restructuring, Violin Memory has filed a voluntary petition for reorganization under chapter 11 of the U.S. Bankruptcy Code…

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Stone Energy Corp Files Chapter 11

Link to Docket: http://dm.epiq11.com/StoneEnergy Stone Energy Corporation (NYSE: SGY) (“Stone” or the “Company”), and its domestic subsidiaries (together with the Company, the “Debtors”), today announced that they had filed voluntary petitions under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of…

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Key Energy Emerges from Chapter 11

Key Energy Services Emerges from Bankruptcy, to Relist on the New York Stock Exchange and Resume Trading Under Ticker “KEG”   • Company exits restructuring with stronger balance sheet, sees improving demand for services   • Platinum Equity, Key’s controlling shareholder upon emergence, views Key as platform for growth and consolidation HOUSTON, December 15, 2016 /PRNewswire/…

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Cemtrex to Conduct Rights Offering

Cemtrex, Inc. has approved a non-transferable subscription rights offering. The offering will allow Cemtrex’s stockholders of record to purchase units, each consisting of one share of series 1 preferred stock, paying cumulative dividends at the rate of 10% of the purchase price per year, and two five-year series 1 warrants, upon the exercise of subscription…

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Highland Cap Outlines Plan For RAIT

December 5, 2016 VIA EMAIL The Board of Trustees RAIT Financial Trust Two Logan Square 100 N. 18th Street, 23rd Floor Philadelphia, PA 19103 Attn: Michael J. Malter, Chairman of the Board Re: Proposed Transaction with RAIT Financial Trust Dear Mr. Malter: We are writing to follow up on our previous letter to you dated November…

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Overseas Shipholding Completes INSW Spin-Off

Overseas Shipholding Group, Inc. has completed the previously announced separation of OSG into two independent, publicly traded companies: Overseas Shipholding Group and International Seaways (NYSE:INSW). “Today marks the start of an exciting new chapter for OSG. We are now a more sharply focused company with a leading and diversified position in the Jones Act market,”…