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Here are some of the latest bankruptcy stories our reporters have been covering Thursday morning on TheDeal.com. For more check out the bankruptcy channel on TheDeal.com or visit Bankruptcy Insider.
Tropicana to seek DIP boost
Bankrupt Tropicana Entertainment LLC will seek a Delaware judge's approval of amendments that would boost both its debtor-in-possession financing commitment from Silver Point Finance LLC by $13 million and the loan's pricing by 300 basis points. The amendments to Silver Point's original $67 million financing agreement with the bankrupt casino owner will be considered on Oct. 14, but only if objections are lodged by interested parties. Any objections must be filed by Oct. 7. If there aren't any, then Carey can rule on the amendments without a need for a hearing. - Carolyn Okomo Judge OKs rules for Boscov's auction A Delaware judge has set the stage for a late October auction for the rights to bankrupt retailer Boscov's Inc. The auction is set for Oct. 20. The retailer, which is looking to complete a deal in time for the critical holiday season. Versa Capital Management Inc., the Philadelphia private equity firm formerly known as Chrysalis Capital Partners LP, will start the bidding with a stalking-horse bid equal to $11 million in cash and including upward of $200 million in assumed debt. - Ben Fidler Thomas loses stalking-horse bidder The $24 million sale of bankrupt carpet maker Thomas Industries Inc. to textiles giant Milliken & Co. collapsed when the stalking-horse bidder pulled its offer. The asset purchase agreement that Milliken and Thomas forged before it won court approval was pulled by the prospective buyer when certain required covenants weren't met, said creditors' co-counsel Christopher Phillips of Lambert, Cifelli, Stokes, Ellis & Nason. - Terry Brennan BHM wins plan confirmation Bankrupt BHM Technologies Holdings Inc. is ready to steer away from Chapter 11 with the help of New York private equity firm First Atlantic Capital Ltd. and Wells Fargo Foothill Inc. The auto parts maker won confirmation of its reorganization plan on Tuesday. - Ben Fidler Categories Deal Video
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