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/raid1/www/Hosts/bankrupt/TCR_Public/200926.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, September 26, 2020, Vol. 24, No. 269 Headlines AKORN INC: Net Loss Increases to $22.21 Million in July IMH FINANCIAL: Reports $902,132 Net Loss in July LIBBEY GLASS: Incurs $8.77 Million Net Loss in July ********* AKORN INC: Net Loss Increases to $22.21 Million in July ------------------------------------------------------- Akorn, Inc., et al., filed with the U.S. Securities and Exchange Commission their monthly operating report for the period from July 1 to 31, 2020. The Debtors' consolidated statement of operations showed a net loss of $22.21 million on $41.29 million of net revenue in July, as compared to $10.64 million net loss reported for the previous period. As of July 31, 2020, the Debtors listed $1.13 billion in consolidated total assets, $1.06 billion in consolidated total liabilities, and $62.40 million in consolidated total shareholders' equity. The Debtors listed total cash receipts of $39.89 million and total disbursements of $72.18 million. A copy of the monthly operating report is available at the SEC at: https://bit.ly/3kex9FR About Akorn, Inc. Akorn, Inc. (Nasdaq: AKRX) -- http://www.akorn.com/-- is a specialty pharmaceutical company that develops, manufactures, and markets generic and branded prescription pharmaceuticals, branded as well as private-label over-the-counter consumer health products, and animal health pharmaceuticals. Akorn is headquartered in Lake Forest, Illinois, and maintains a global manufacturing presence, with pharmaceutical manufacturing facilities located in Illinois, New Jersey, New York, Switzerland, and India. Akorn, Inc., and its affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-11178) on May 20, 2020. As of March 31, 2020, the Debtors disclosed total assets of $1,032,275,000 and total liabilities of $1,051,769,000. The cases are assigned to Judge John T. Dorsey. The Debtors tapped Kirkland & Ellis LLP and Kirkland & Ellis International LLP as their general bankruptcy counsel. Richards, Layton & Finger, P.A., is the Debtors' local counsel. AlixPartners, LLP, serves as the Debtors' restructuring advisor, and PJT Partners LP is the financial advisor and investment banker. Kurtzman Carson Consultants, LLC, is the notice and claims agent. IMH FINANCIAL: Reports $902,132 Net Loss in July ------------------------------------------------ IMH Financial Corporation filed with the U.S. Securities and Exchange Commission its monthly operating report for July 2020. The Debtor reported a net loss of $902,132 for the month. As of July 31, 2020, the Debtor listed $2.61 million in total assets, $9.76 million in total liabilities, and -$7.15 million in total shareholders' equity. At July 1, 2020, the Debtor had $221,510 beginning cash balance. It listed total cash receipts of $1,805,801 and total cash disbursements of $685,821. Thus, the Debtor had $1,341,490 ending cash balance at July 31, 2020. A copy of the monthly operating report is available at the SEC at: https://bit.ly/2ZyBqMq About IMH Financial IMH Financial Corporation -- https://www.imhfc.com/ -- is a real estate investment holding company. The Company's most significant real estate assets include: (a) a luxury hotel located in Sonoma, California, and (b) thousands of acres of undeveloped real property and related water rights located outside of Albuquerque, New Mexico. The Company's real estate investments are located primarily in the southwestern part of the United States, and are held by wholly-owned or indirectly wholly-owned subsidiaries, none of which are in bankruptcy. IMH Financial Corporation filed for bankruptcy protection (Bankr. D. Del. Case No. 20-11858) on July 23, 2020. The petition was signed by Chadwick S. Parson, chairman and CEO. The Debtor was estimated to have $100 million to $500 million in assets and liabilities. The Hon. Brendan Linehan Shannon presides over the case. Ashby & Geddes PA and Snell & Wilmer LLP have been tapped as bankruptcy counsel to the Debtor. Donlin, Recano & Co., Inc., is the Debtor's claim and noticing agent. LIBBEY GLASS: Incurs $8.77 Million Net Loss in July --------------------------------------------------- Libbey Glass Inc., et al., filed with the U.S. Securities and Exchange Commission their monthly operating report for July 2020. Libbey Glass reported a net loss of $8.77 million on $23.08 million of total revenues for July, a decrease from $29.03 million net loss posted for June. As of July 31, 2020, Libbey Glass listed $691.05 million in total assets, $817.15 million in total liabilities, and -$126.10 million in total shareholders' equity. At July 1, 2020, the Debtors had $14.66 million beginning cash balance. They listed total cash receipts of $21.41 million and total cash disbursements of $27.51 million. Taking into account draws/paydowns and other minimal amounts, the Debtors had $37.81 million ending cash balance at July 31, 2020. A copy of the monthly operating report is available at the SEC at: https://bit.ly/2Rlbq2k About Libbey Inc. Based in Toledo, Ohio, Libbey Inc. (NYSE American: LBY) is one of the largest glass tableware manufacturers in the world. Libbey operates manufacturing plants in the U.S., Mexico, China, Portugal and the Netherlands. In existence since 1818, Libbey supplies tabletop products to retail, foodservice and business-to-business customers in over 100 countries. Libbey's global brand portfolio, in addition to its namesake brand, includes Libbey Signature, Master's Reserve, Crisa, Royal Leerdam, World Tableware, Syracuse China, and Crisal Glass. In 2019, Libbey's net sales totaled $782.4 million. For more information, visit http://www.libbey.com/ Libbey Glass Inc. and 11 of its affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-11439) on June 1, 2020. In the petition signed by CEO Michael P. Bauer, Libbey Glass was estimated to have $100 million to $500 million in assets and $500 million to $1 billion in liabilities as of the bankruptcy filing. The Hon. Laurie Selber Silverstein is the case judge. The Debtors tapped Latham & Watkins LLP and Richards, Layton & Finger, P.A., as counsel; Alvarez & Marsal North America, LLC as financial advisor; and Lazard Ltd as investment banker. Prime Clerk LLC is the claims agent, maintaining the page https://cases.primeclerk.com/libbey ********* 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 2020. 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 ***