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Tue, Nov 3

Karyopharm wins approval of bidding procedures with Ayrmid as stalking horse

The U.S. Bankruptcy Court for the Southern District of Texas granted the motion of Karyopharm Therapeutics Inc. and its debtor affiliate KPT Texas LLC on Nov. 3, 2026. The procedures cover a sale of all, substantially all or a material portion of the debtors' assets, including their rights to XPOVIO (selinexor). Ayrmid Ltd.'s bid, set out in the restructuring support agreement and plan, is deemed a qualified bid. If no other qualified bid arrives by the bid deadline, the debtors will proceed with the reorganization transaction under the plan. Bids are due Dec. 16, 2026 at 4:00 p.m. An auction, if applicable, is set for Dec. 21, 2026 at 10:00 a.m. The order sets the sale hearing for Jan. 11, 2027 at 9:00 a.m., and the bidding procedures make that hearing subject to the court's availability.

Karyopharm wins interim approval to borrow $25,000,000 in DIP loans

Judge Alfredo R Pérez signed the interim order on Nov. 3, 2026. It lets Karyopharm and KPT Texas borrow $25,000,000 in new-money DIP loans and use cash collateral, subject to the DIP documents and the order. The debtors sought a senior secured priming facility made up of up to $55,000,000 in first-out new-money term loans and a roll-up of up to $55,000,000 of prepetition first-lien loans into second-out loans. Wilmington Savings Fund Society, FSB is the DIP agent. Once the order is entered and the facility closes, prepetition first-lien loans held by lenders funding the initial draw convert dollar-for-dollar into interim roll-up loans. A final hearing is scheduled for Nov. 30, 2026. Objections are due Nov. 23, 2026, at 4:00 p.m. (CT) and must be served so they are received by that date. If no objections are timely filed and served, no final hearing is required and the court may enter the final order.

Karyopharm wins interim approval to keep its cash management system

The bankruptcy court in Houston entered the order on Nov. 3, 2026. It grants, on an interim basis, the motion at Docket No. 14 filed by Karyopharm Therapeutics and its debtor affiliate, KPT Texas. The debtors may keep operating their cash management system, use their existing bank accounts and pay bank fees, including fees that arose before the petition date. According to the motion, the debtors hold about $7,780,000 in unrestricted cash across ten bank accounts at five institutions, including Wells Fargo and JPMorgan Chase. Any accounts that do not comply with section 345(b) of the Bankruptcy Code must be brought into compliance by Dec. 17, 2026. The debtors can extend that deadline through a written stipulation with the U.S. Trustee. A final hearing is set for Nov. 30, 2026 at 10:00 a.m. prevailing Central Time, and objections must be filed by 4:00 p.m. prevailing Central Time on Nov. 23, 2026. If no objections are timely received, the court may enter a final order without holding the hearing.

Lodging Enterprises: court denies Wilmington Trust bid for expedited hearing

On Nov. 3, 2026, Judge Dale L. Somers denied the motion (Dkt. 802) to expedite the hearing and shorten the objection period on a motion to compel (Dkt. 801). The motion was filed by Wilmington Trust, as trustee for UBS Commercial Mortgage Trust 2019-C18, acting through special servicer Rialto Capital Advisors. The motion to compel seeks return of a prepetition professional fee retainer held by Sigfried Bingham, plus a prompt wind-up and closing of the post-confirmation administration so a final distribution can go to the prepetition secured parties. According to the secured parties, a Sept. 14, 2026 report from plan administrator Bryan Gaston identified at least $484,000 payable to them, including $176,860 in prepetition professional retainers. The lender had asked for a Nov. 2, 2026 objection deadline and a Nov. 3, 2026 hearing. It argued that a late-November hearing would hurt the parties' ability to close the post-confirmation administration before the end of 2026.

25

New chapter 11 cases

Stoli: trustee's global settlement and asset sale motions go to Nov. 5 hearing

William R. Patterson, Stoli Group (USA)'s Chapter 11 trustee, filed an agenda for a hybrid hearing on Nov. 5, 2026, at 2:30 p.m. (prevailing Central Time) before Judge Scott W. Everett. It says the joint emergency motion of the trustee and the Official Committee of Unsecured Creditors to approve a global settlement agreement (Dkt. 1486) is going forward. The trustee's emergency motion to sell certain assets free and clear of all liens, claims, encumbrances and interests (Dkt. 1488) is also going forward. Responses are due prior to or at the hearing, and an asset purchase agreement is to be filed before the hearing. S.P.I. Spirits (Cyprus) Limited's motion to compel the trustee to assume or reject a supply and distribution agreement effective as of Jan. 1, 2014 (Dkt. 1462) is going forward as well. A notice of a proposed stipulation and agreed order that would resolve the motion and reject the agreement was filed at Dkt. 1487. In that motion, SPI said the agreement governs the exclusive U.S. channel for core Stoli-branded products. It estimated monetary defaults and related cure obligations at approximately $25 million, subject to reconciliation and proof.

Tonopah Solar Energy chapter 11 case closed

The order provides: “The chapter 11 case of Tonopah Solar Energy, LLC (Case No. 26-10060) is hereby CLOSED and a final decree is hereby GRANTED effective as of the date of the entry of this Order.”

LIV Golf seeks $2.66 million turnover and sanctions against CTM

The debtors asked the court to enforce the automatic stay, compel turnover of their funds and sanction Corporate Travel Management (United Kingdom) Limited (CTM), including their attorneys' fees and costs, for what they call a willful stay violation. According to the motion, CTM has held about $2.66 million of estate funds since the cases began. The debtors say CTM is using those funds as leverage to get paid on its prepetition claims. The debtors say that on Sept. 22, 2026, CTM threatened to set off about $602,651.00 in claimed prepetition provider costs and management fees against the funds. On Oct. 28, 2026, CTM's counsel said CTM was entitled to the setoff and would not turn the money over. Judge Michael B. Kaplan will hear the motion on Nov. 24, 2026, at 10:00 a.m. (prevailing Eastern Time) in Courtroom 8 in Trenton. Objections must be received no later than seven days before the hearing. Without timely objections, the motion may be decided on the papers.

El Paso Diocese: Las Cruces bid to quash committee subpoenas set for Nov. 17

The Roman Catholic Diocese of Las Cruces' motion (Dkt. 369) will be heard on an expedited basis at a remote hearing on Nov. 17, 2026, at 12:30 PM. Las Cruces, acting for itself and 54 parish entities, asks the court to quash the Official Committee of Unsecured Creditors' Rule 2004 discovery notice (Dkt. 353) and the two subpoenas served under it. As an alternative, it asks the court to limit them to the documents it has offered and to enter a protective order. Las Cruces says it and its parishes are not debtors and have operated independently since 1982. It argues that the requests for five years of financial records, trust and loan documents, communications with insurers and files on accused persons concern Las Cruces, not the El Paso diocese. The subpoenas call for production on Nov. 13, 2026. Las Cruces says it has agreed to produce documents on the 1982 division, the deeds that transferred property between the two dioceses and the insurance policies they share.

FuturHealth sale bidding procedures hearing scheduled for Nov. 24

FuturHealth filed the motion (Docket No. 25) on Nov. 3, 2026. It asks the court to approve bidding procedures for the sale of substantially all of its assets and to let it designate one or more stalking horse bidders with bid protections. It also asks the court to schedule an auction and a sale hearing and to approve procedures for assuming and assigning contracts. Judge J. Kate Stickles will hear the motion on Nov. 24, 2026 at 10:00 a.m. (ET). Objections must be filed and served so they are received by Nov. 17, 2026 at 4:00 p.m. (ET). Richard Klein of Hilco Corporate Finance, the proposed investment banker, said in a declaration that Hilco contacted about 135 parties. Of those, 17 signed confidentiality agreements, and no third party has yet made an actionable proposal. Klein said FuturHealth can get additional funding under its DIP facility only after it enters into a qualified stalking horse purchase agreement. He added that the facility also requires the company to meet sale milestones.

DAMIS Holdings bar date motion set for Nov. 19 hearing on shortened time

In an order filed Nov. 3, 2026, the court granted the DAMIS Debtors' application to shorten time under Bankruptcy Rule 9006(c)(1). It set a hearing on their bar date motion for Nov. 19, 2026, at 1:00 p.m. (E.T.) before U.S. Bankruptcy Judge Christine M. Gravelle in Trenton, N.J. The motion asks the court to set bar dates for submitting proofs of claim, including requests for payment under section 503(b)(9). It also asks the court to establish an amended schedules bar date and a rejection damages bar date and to approve the form, manner and procedures for filing claims and notice of them. Under the order, objections to the motion must be filed with the court and served on all parties in interest by electronic or overnight mail on Nov. 13, 2026, at 4:00 p.m. (E.T.). The hearing will be held by Zoom. The order also limits notice. The DAMIS Debtors must serve the motion and order on the U.S. Trustee, counsel to the committee, their prepetition and postpetition secured parties, and Rule 2002 notice parties.

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