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NII Holdings, Inc. yesterday announced that it completed the sale of its Mexican operations to AT&T for an aggregate purchase price of $1.875 billion, according to a press release. After deducting Nextel Mexico's outstanding indebtedness net of its cash balance and applying estimates of other specified purchase price adjustments at closing, NII received $1.448 billion of net proceeds, including $187.5 million of cash placed in escrow to secure specified indemnity obligations. NII used $350.5 million of the net proceeds from the sale to repay in full the outstanding principal and accrued interest due under its debtor-in-possession loan that it borrowed in March 2015. A portion of the net proceeds from the transaction will be used to support NII's operations in Brazil and the remainder will be used to fund distributions to specified creditors, pursuant to the proposed plan of reorganization in the chapter 11 bankruptcy proceedings of NII and certain of its subsidiaries, that is pending before the U.S. Bankruptcy Court for the Southern District of New York.

Going-out-of-business sales at Cache Inc.'s some 200 stores may have signaled the end of the brick-and-mortar retailer, but the Cache name could live on following the sale of the women's clothing chain's intellectual property, Dow Jones Daily Bankruptcy Review reported today. Bankruptcy Judge Mary Walrath on Tuesday signed off on the sale of Cache's intellectual property and customer lists to Cato Corp., a chain of more than 1,300 women's clothing and accessories stores. The intellectual property sale won't actually bring more money into Cache's dwindling bankruptcy coffers. That's because Great American Group, the liquidator that ran going-out-of-business sales at the chain, bought the IP rights for $2.5 million and then sold them to Cato. That price was included in the $18 million Great American paid for the rights to the sales, according to court filings.

Kitchen product maker EveryWare Global Inc. won final court approval on Tuesday to tap a $40 million bankruptcy loan as it works to implement a restructuring plan that will cut $250 in debt from its balance sheet, the Wall Street Journal reported today. The approval from Bankruptcy Judge Laurie Selber Silverstein comes after no objections were filed to the terms of the bankruptcy financing. EveryWare has been on the fast track in its bankruptcy case since filing for chapter 11 on April 7 with a pre-negotiated deal with creditors already in hand. In addition to the $40 million bankruptcy loan from existing senior lenders, EveryWare has access to a $60 million revolving credit line from Wells Fargo & Co. EveryWare, which makes Anchor Hocking and Oneida bakeware, stemware and other products, plans to turn over 96 percent of equity in a restructured company to term-loan lenders owed $248.7 million. The remaining 4 percent of equity will go to current shareholders in exchange for their support of the restructuring.

Bankruptcy Judge Benjamin Goldgar allowed the operating unit of Caesars Entertainment Corp. to control its bankruptcy for another month, as creditors try to reach common ground with a court-appointed investigator probing the company's pre-bankruptcy dealings, Reuters reported yesterday. Caesars Entertainment Operating Co., the largest U.S. casino operator, went bankrupt in January with $18 billion in debt. An independent examiner has been tapped to investigate whether the company's equity owners, which include Apollo Global Management LLC and TPG Capital LP, illegally transferred key assets out of creditors' reach before the bankruptcy filing. Caesars had asked to extend its exclusive right to propose a restructuring plan until Nov. 15 from May 15, a request opposed by creditors, including first-lien noteholders. Judge Goldgar extended exclusivity only until May 27, the date of Caesars' next omnibus hearing.

Energy Future Holdings Corp. may be seeing a path out of chapter 11 protection with investors circling the company's prize asset, Oncor, Dow Jones Daily Bankruptcy Review reported today. A sale of Oncor, which is shielded from its parent's financial trouble and rakes in cash from a transmissions business watched closely by regulators, would be the largest distressed mergers and acquisition transaction on record. Billions of dollars in new money is flowing toward a deal to take over Energy Future's stake in Oncor, which could be worth $17 billion or more. Energy Future Holdings has spent the last 12 months stalled out in bankruptcy court amid the ruins of a carefully orchestrated strategy to tackle the debt load, the legacy of a 2007 leveraged buyout.

A Chicago bankruptcy judge approved Caesars Entertainment’s plans to dismantle the former casino at the shuttered Harrah's complex in Mississippi's Tunica County, the Associated Press reported today. While Bankruptcy Judge Benjamin Goldgar authorized the dismantling on March 30, it is unclear when Caesars will begin demolition or how long it will take. Alicia Draper, a permit clerk with the Tunica County Planning Commission, said yesterday that Caesars has yet to seek a required permit. Las Vegas-based Caesars closed Harrah's in June, eliminating about 1,000 jobs at the sprawling resort that opened in 1996 as Grand Casino Tunica. Demolition was opposed by the Clarksdale-based Yazoo-Mississippi Delta Levee Board. The board collects $3.65 million yearly from a port facility lease for the barges docked in Buck Lake, an oxbow lake of the Mississippi River about 30 miles south of Memphis, Tennessee. Bankruptcy filings listed the board as Caesars' seventh-largest unsecured creditor, with $10.5 million due on a lease running through 2017. Caesars has paid some of that money since it filed for chapter 11 reorganization in January.

Lawyers for soup and salad chain Saladworks LLC said that they have secured a $15 million bid to kick off an auction for the company next month, Dow Jones Daily Bankruptcy Review reported today. Saladworks officials said in court papers that they plan to start the May 27 auction with a bid from an entity called SW Acquisition Co. LLC. Dozens of buyers have been evaluating Saladworks, which filed for bankruptcy on Feb. 17 amid an ownership dispute, according to documents filed in U.S. Bankruptcy Court in Wilmington, Del.

Newly released court records show that Altegrity Inc., a company linked to some notable U.S. security stumbles of recent years, shelled out $25.7 million to top executives the year before it filed for bankruptcy protection, the Wall Street Journal reported on Saturday. Some of the money was channeled through Altegrity subsidiary US Investigations Services, which vetted Edward Snowden for his National Security Agency contract work. The company also conducted the background check on Aaron Alexis, an employee of a government subcontractor who killed 12 people in a shooting rampage at the Washington Navy Yard in September 2013. Altegrity, which is based in Falls Church, Va., has denied doing shoddy work. It filed for bankruptcy protection in February after losing the federal contracts that accounted for over one-third of its revenue. On Thursday, the company said that executive bonuses handed out as it headed to bankruptcy were part of agreements put in place in 2013 and 2014 as it cut costs and streamlined the organization.