%1

SunEdison filed a motion for an order approving the sale of certain equity interests in its Atlantic Power Warehouse, free and clear of all liens, claims and liabilities to DIF Infra 4 US and DIF IV Co-Invest (as buyer) and approving certain releases in connection with the sale, BankruptcyData.com reported today. The bankruptcy court has scheduled a January 12, 2017 hearing on the sale motion. In addition to filing the sale motion, SunEdison subsidiary TerraForm Private Holdings initiated its own chapter 11 filing in the Southern District of New York, case number 16-13523, and seeking joint administration with the SunEdison proceeding. 

Multiple suitors are weighing bids to challenge the $575 million offer for Performance Sports Group Ltd. made by a financial consortium in the bankruptcy court auction of the Bauer hockey gear maker, Reuters reported yesterday. Private equity firms Thomas H. Lee Partners LP, Bain Capital LP, KKR & Co LP, KPS Capital Partners LP, and Sycamore Partners have indicated their interest in the sporting goods company, the people said. The sources could not be named because the talks are private. The auction is scheduled for Jan. 30. British retailer Sports Direct International plc and Canadian pension fund Caisse De Depot et placement du Quebec have also submitted letters of interest. Finnish sporting goods company Amer Sports, which makes Wilson sporting equipment, is interested in acquiring Performance Sports' baseball business.

American Apparel LLC won court approval to use the rest of its $30 million bankruptcy loan after the retailer resolved issues with its unsecured creditors, the Wall Street Journal reported today. Bankruptcy Judge Brendan Shannon yesterday signed off on the loan and said that he “appreciated” the revised court papers and agreements made among the creditors, debtors and pre-bankruptcy lenders. The retailer secured a $30 million financing package from post-bankruptcy lender Encina Business Credit LLC to fund the costs of its chapter 11 case prior to its November bankruptcy filing. Judge Shannon earlier gave approval for the company to use up to $10 million of the loan.

American Apparel set the date for the bankruptcy auction of its manufacturing, retail and wholesale business, likely delaying layoffs slated to affect as many as 3,457 employees in Southern California, the Los Angeles Times reported today. The Los Angeles clothier, which in November filed for bankruptcy for the second time, told workers yesterday that the auction has been scheduled for Jan. 9 and 12. It does “not anticipate” any layoffs on Jan. 7 — the initial date when cuts were scheduled to occur. After the auction, “we will have more clarity on the go-forward plan,” Craig Simmons, the chief human resources officer, wrote in a letter to employees, “depending on which buyer or buyers succeed, and how they wish to move forward.” Gildan Activewear, a Canadian sportswear firm that has already bid $66 million for American Apparel's intellectual property rights and some other assets, has indicated its interest in maintaining at least a portion of manufacturing in the U.S.

The Supreme Court is scheduled to hear oral argument in Czyzewski v. Jevic Holding Corp. (15-649) tomorrow at 10 a.m. ET. ABI’s Bill Rochelle will be covering the oral argument in Jevic tomorrow and will provide a video recap on ABI’s social media networks (Twitter, Facebook and Linked In) and a summary in the Rochelle Daily Wire. For more on the Jevic case, please click here.