New Case Filing – Chapter 11 – SFX Entertainment, Inc.
SFX Entertainment, Inc. (NASDAQ: SFXE) and many of its affiliates, which hold live electronic-music events, have commenced cases (Lead Case No. 16-10238 (MFW)) under Chapter 11 of the Bankruptcy Code by filing petitions with the U.S. Bankruptcy Court for the District of Delaware. The Honorable Mary F. Walrath will preside over the cases. According to a press release that the debtors issued, they have entered a restructuring support agreement with an ad hoc group of bondholders and intend to take SFX Entertainment, Inc. private by eliminating existing equity and converting existing debt into equity. Additional information and documents are available from Kurtzman Carson Consultants LLC.
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