/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/190629.mbx T R O U B L E D C O M P A N Y R E P O R T E R Saturday, June 29, 2019, Vol. 23, No. 179 Headlines ACHAOGEN INC: Gains $8.41 Million Net Income at April 30 PREMIER EXHIBITIONS: Files Monthly Operating Report for May VANGUARD RESOURCES: Incurs $20.18 Million Net Loss in April WINDSTREAM HOLDINGS: Net Loss Decreases to $33.10 Million in April ********* ACHAOGEN INC: Gains $8.41 Million Net Income at April 30 -------------------------------------------------------- Achaogen, Inc., filed with the U.S. Securities and Exchange Commission an operating report for the period April 15, 2019 through April 30, 2019. The Debtor's statement of operations showed a net income of $8.41 million on $92,000 in total revenues for the current reporting period. As of April 30, 2019, the Debtor listed $39.95 million in total assets, $58.52 million in total liabilities, and $18.56 million in total shareholders' deficit. The Debtor had $1.44 million cash at April 15, 2019. It listed total cash receipts of $466,000 and total disbursements of $852,000 through the end of April. Taking into account reorganization costs of $41,000 and DIP draw of $2.14 million, the Debtor had $3.23 million cash at April 30. A copy of the monthly operating report is available at the SEC at: https://is.gd/BVLFJf About Achaogen Inc. South San Francisco, California-based Achaogen, Inc. -- http://www.achaogen.com/-- is a biopharmaceutical company focused on the discovery, development, and commercialization of innovative antibacterial treatments against multi-drug resistant gram-negative infections. Achaogen, Inc., sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No. 19-10844) on April 25, 2019. In the petition signed by CEO Blake Wise, the Debtor disclosed assets of $91.61 million and liabilities of $119.96 million as of Jan. 31, 2019. The case is assigned to Judge Brendan Linehan Shannon. The Debtor tapped Hogan Lovells US LLP as its bankruptcy counsel; Morris, Nichols, Arsht & Tunnell LLP as co-counsel; Meru LLC as financial advisor; Cassel Salpeter & Co., LLC as investment banker; and Kurtzman Carson Consultants LLC as claims, noticing and solicitation agent. Andrew Vara, acting U.S. trustee for Region 3, appointed a committee of unsecured creditors in the Debtor's case on April 23, 2019. PREMIER EXHIBITIONS: Files Monthly Operating Report for May ----------------------------------------------------------- Premier Exhibitions, Inc., filed with the U.S. Securities and Exchange Commission its monthly operating report for May 2019. The Company listed zero receipts and disbursements for the month. It also did not post a list of its assets and liabilities. A copy of the monthly operating report is available at the SEC at https://is.gd/DbMTgD About Premier Exhibitions Premier Exhibitions, Inc. (Nasdaq: PRXI), located in Atlanta, Georgia, is a presenter of museum quality exhibitions throughout the world. Premier -- http://www.PremierExhibitions.com/-- develops and displays unique exhibitions for education and entertainment including Titanic: The Artifact Exhibition, BODIES. The Exhibition, Tutankhamun: The Golden King and the Great Pharaohs, Pompeii The Exhibition, Extreme Dinosaurs and Real Pirates in partnership with National Geographic. The success of Premier Exhibitions lies in its ability to produce, manage, and market exhibitions. RMS Titanic and seven of its subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Lead Case No. 16-02230) on June 14, 2016. In the petitions signed by former CFO and COO Michael J. Little, the Debtors estimated both assets and liabilities of $10 million to $50 million. The Chapter 11 cases are assigned to Judge Paul M. Glenn. Daniel F. Blanks, Esq., and Lee D. Wedekind, III, Esq., at Nelson Mullins Riley & Scarborough LLP, serve as the Debtors' counsel. The Debtors employ Brian A. Wainger, Esq., at Kaleo Legal as special litigation counsel, outside general counsel, securities counsel, and conflicts counsel; Robert W. McFarland, Esq., at McGuireWoods LLP as special litigation counsel; Steven L. Berson, Esq., at Dentons US LLP and Dentons Canada LLP as outside general counsel and securities counsel; Oscar N. Pinkas, Esq., at Dentons LLP as outside general counsel and securities counsel. The Debtors also employed Ronald L. Glass as Chief Restructuring Officer and GlassRatner Advisory & Capital Group, LLC, as financial advisors. Guy Gebhardt, acting U.S. trustee for Region 21, on Aug. 24, 2016, appointed three creditors to serve on an official committee of unsecured creditors. The Committee hired Avery Samet, Esq. and Jeffrey Chubak, Esq., at Storch Amini & Munves PC, and Richard R. Thames, Esq. and Robert A. Heekin, Jr., Esq., at Thames Markey & Heekin, P.A., as counsel. The official committee of equity security holders of Premier Exhibitions Inc. retained Peter J. Gurfein, Esq., at Landau Gottfried & Berger LLP as counsel; Jacob A. Brown, Esq., and Katherine C. Fackler, Esq., at Akerman LLP as Co-Counsel; and Teneo Securities LLC as financial advisor. The Chapter 11 Cases were originally jointly administered under the lead case of In re: RMS Titanic, Inc. (Case No. 16-02230). Following the dismissal of the RMST case on March 11, 2019, the remaining Chapter 11 Cases became jointly administered under the lead case of In re: Premier Exhibitions, Inc. (Case No. 16-2232). VANGUARD RESOURCES: Incurs $20.18 Million Net Loss in April ----------------------------------------------------------- Vanguard Natural Resources, Inc., filed with the U.S. Securities and Exchange Commission its monthly operating report for April 2019. The Debtor's statement of operations showed a net loss of $20.18 million on $31.30 million in total revenues for April. As of April 30, 2019, the Debtor listed $1.47 billion in total assets, $1.22 billion in total liabilities, and $251.86 million in total shareholders' equity. At April 1, 2019, the Debtor had $12.53 million cash. It listed total cash receipts of $69.59 million and total disbursements of $40.16 million. Thus, the Debtor had $41.97 million cash at April 30. A copy of the monthly operating report is available at the SEC at: https://is.gd/DubEnY About Vanguard Natural Resources Vanguard Natural Resources Inc. -- https://www.vnrenergy.com/ -- is an independent exploration and production company focused on the production and development of oil and natural gas properties in the United States. Its assets consist primarily of producing and non-producing oil and natural gas reserves located in the Green River Basin in Wyoming, the Piceance Basin in Colorado, the Permian Basin in West Texas and New Mexico, the Arkoma Basin in Oklahoma, the Gulf Coast Basin in Texas, Louisiana and Alabama, the Big Horn Basin in Wyoming and Montana, the Anadarko Basin in Oklahoma and North Texas, the Wind River Basin in Wyoming, and the Powder River Basin in Wyoming. Headquartered in Houston, the company and its affiliates have 295 employees. Vanguard Natural Resources and its affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 19-31786) on March 31, 2019. At the time of the filing, the Debtors disclosed $1.478 billion in assets and $1.196 billion in liabilities. The cases are assigned to Judge David R. Jones. The Debtors tapped Kirkland & Ellis LLP and Kirkland & Ellis International LLP as bankruptcy counsel; Blank Rome LLP as co-counsel with Kirkland; Evercore Group LLC as financial advisor and investment banker; Opportune LLP as restructuring advisor; and Prime Clerk LLC as claims and balloting agent and administrative advisor. The Office of the U.S. Trustee appointed an official committee of unsecured creditors on April 11, 2019. The committee tapped Locke Lord LLP as its legal counsel. WINDSTREAM HOLDINGS: Net Loss Decreases to $33.10 Million in April ------------------------------------------------------------------ Windstream Holdings, Inc., et al., filed with the U.S. Securities and Exchange Commission their monthly operating report for April 2019. Windstream Holdings' statement of operations reflected a net loss of $33.10 million on $434.17 million in total revenues for April, as compared to a $2.22 billion net loss reported at March 31. Windstream Holdings posted $10.89 billion in total assets, $12.12 billion in total liabilities, and $1.23 million in total shareholders' deficit as of April 30, 2019. The Debtors listed total cash receipts of $1.99 billion and total cash disbursements of $1.89 billion for the month. A copy of the monthly operating report is available at the SEC at: https://is.gd/McCdxP About Windstream Holdings Windstream Holdings, Inc. and its subsidiaries are providers of advanced network communications and technology solutions for businesses across the United States. They also offer broadband, entertainment and security solutions to consumers and small businesses primarily in rural areas in 18 states. Windstream Holding Inc. and its subsidiaries filed for bankruptcy protection (Bankr. S.D.N.Y. Lead Case No. 19-22312) on Feb. 25, 2019. The Debtors had total assets of $13,126,435,000 and total debt of $11,199,070,000 as of Jan. 31, 2019. The Debtors tapped Kirkland & Ellis LLP and Kirkland & Ellis International LLP as counsel; PJT Partners LP as financial advisor and investment banker; Alvarez & Marsal North America LLC as restructuring advisor; Kurtzman Carson Consultants as notice and claims agent; and KPMG LLP as tax consultants. The U.S. Trustee for Region 2 appointed an official committee of unsecured creditors on March 12, 2019. The committee tapped Morrison & Foerster LLP as its legal counsel, AlixPartners, LLP as its financial advisor, and Perella Weinberg Partners LP as investment banker. ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. Prices reported are not intended to reflect actual trades. Prices for actual trades are probably different. Our objective is to share information, not make markets in publicly traded securities. Nothing in the TCR constitutes an offer or solicitation to buy or sell any security of any kind. It is likely that some entity affiliated with a TCR editor holds some position in the issuers public debt and equity securities about which we report. Each Tuesday edition of the TCR contains a list of companies with insolvent balance sheets whose shares trade higher than $3 per share in public markets. At first glance, this list may look like the definitive compilation of stocks that are ideal to sell short. Don't be fooled. Assets, for example, reported at historical cost net of depreciation may understate the true value of a firm's assets. A company may establish reserves on its balance sheet for liabilities that may never materialize. The prices at which equity securities trade in public market are determined by more than a balance sheet solvency test. On Thursdays, the TCR delivers a list of recently filed Chapter 11 cases involving less than $1,000,000 in assets and liabilities delivered to nation's bankruptcy courts. The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/books/to order any title today. Monthly Operating Reports are summarized in every Saturday edition of the TCR. The Sunday TCR delivers securitization rating news from the week then-ending. TCR subscribers have free access to our on-line news archive. Point your Web browser to http://TCRresources.bankrupt.com/and use the e-mail address to which your TCR is delivered to login. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter co-published by Bankruptcy Creditors Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA. Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog, Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa, Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors. Copyright 2019. All rights reserved. ISSN: 1520-9474. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The TCR subscription rate is $975 for 6 months delivered via e-mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are $25 each. For subscription information, contact Peter A. Chapman at 215-945-7000. *** End of Transmission ***