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Here are some of the latest bankruptcy stories our reporters have been
covering Monday morning on TheDeal.com. For more check out the
bankruptcy channel on TheDeal.com or visit Bankruptcy Insider.
WaMu gets time to file documents
A Delaware judge on Friday gave bankrupt Washington Mutual Inc. more time to file required court documents. During the hearing, WaMu was given an extension until Oct. 8 to file a list of creditors. The debtor was also given a 90-day extension to file its schedules and statements, giving it until Dec. 29 to complete the schedules, court documents said. - Jamie Mason Mrs. Fields' prepack is confirmed Mrs. Fields Famous Brands LLC has been able to work its way through Chapter 11 in less than two months. The Salt Lake City-based cookie and frozen yogurt maker won confirmation of its prepackaged reorganization plan on Thursday. Mrs. Fields' plan cuts $145.7 million in note debt and hands a majority of its equity over to its noteholders. Under the prepack, noteholders are swapping their securities for an estimated $87.5 million in cash, $52.5 million in new senior secured notes and 87.5% of a reorganized Mrs. Fields' common stock. - Ben Fidler Ciena may tap DIP loan A New York judge gave bankrupt Ciena Capital LLC interim approval to tap up to $2 million of its debtor-in-possession loan from its owner Allied Capital Corp. The $5 million DIP from Allied Capital, which owns 95% of Ciena, is priced at 8% per annum, which increases to 13% if the debtor defaults on it. The DIP will mature on Jan. 5 or on the effective date of its plan of reorganization. The final DIP and cash collateral hearing has been scheduled for Oct. 21, court papers said. - Jamie Mason EnCap, Trump rivalry heats up Bankrupt EnCap Golf Holdings LLC is butting heads with Donald Trump in bankruptcy court over the future of 800 acres of undeveloped land in New Jersey's Meadowlands. EnCap filed a disclosure statement on Sept. 30. Not to be outdone, the Trump Organization, the entity which had formerly worked with EnCap to develop the site, filed its own plan a day later. Since EnCap was designated as a single-asset real estate entity, it was ordered by the court to file a plan by Sept. 30. Once the deadline passed, however, other creditors -- including Trump -- were free to file their own competing plans. - Ben Fidler Categories Deal Video
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