Legal Proceedings
+Added: On September 7, 2022, Cineworld Group plc and certain of its subsidiaries, including Regal, Regal Cinemas, Inc., a party to the ESA, and Regal CineMedia Holdings, LLC, a party to other agreements with NCM LLC and NCM, Inc., filed petitions for reorganization under Chapter 11 of the United States Bankruptcy Code in the Southern District of Texas.
+Added: On October 21, 2022, Regal Cinemas, Inc.
+Added: filed a motion to reject the ESA without specifying an effective date for the rejection and indicated that Regal Cinemas, Inc.
+Added: planned on negotiating with NCM LLC.
+Added: NCM LLC has also filed an adversary proceeding against Regal Cinemas, Inc.
+Added: seeking declaratory relief and an injunction prohibiting Regal Cinemas, Inc.
+Added: from breaching certain exclusivity, non-compete, non-negotiate and confidentiality provisions in the ESA by entering into a new agreement with a third-party or bringing any of the services performed by NCM LLC in-house.
+Added: On February 1, 2023, Cineworld filed a motion for summary judgment on NCM LLC’s adversary proceeding with a hearing scheduled during the second quarter of 2023.
+Added: On April 11, 2023, NCM LLC filed a voluntary petition for reorganization with a prearranged Chapter 11 plan under Chapter 11 of title 11 of the United States Code in the U.S.
+Added: Bankruptcy Court for the Southern District of Texas.
+Added: The Chapter 11 Case is being administered under the caption In re:
+Added: National CineMedia, LLC , Case No.
+Added: The Company will continue to act as the manager of NCM LLC, the “debtor in possession” under the jurisdiction of the Bankruptcy Court, and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court.
+Added: In general, as debtor in possession under the Bankruptcy Code, NCM LLC is authorized to continue to operate as an ongoing business but may not engage in transactions outside the ordinary course of business without the prior approval of the Bankruptcy Court.
+Added: Pursuant to “first day” motions filed with the Bankruptcy Court, the Bankruptcy Court authorized NCM LLC to conduct NCM LLC’s business activities in the ordinary course, including, among other things and subject to the terms and conditions of such orders, authorizing NCM LLC to consensually use cash collateral, pay employee wages and benefits and pay vendors and suppliers in the ordinary course for all go forward goods and services.
+Added: NCM LLC will continue to pursue approval of a proposed plan of reorganization, which will incorporate the terms of the Restructuring Support Agreement.
We are sometimes involved in legal proceedings arising in the ordinary course of business.
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Ng was appointed Chief Financial Officer in September 2021.
−Removed: Ng previously served as the Chief Financial Officer and Head of Corporate Development of Allen Media Group from October of 2018 until September of 2021 where he led the company's finance organization and oversaw multiple large scale acquisitions and the refinancing of the company's capital structure.
+Added: Ng previously served as the Chief Financial Officer and Head of Corporate Development of Allen Media Group from October 2018 until September 2021 where
+Added: he led the company's finance organization and oversaw multiple large scale acquisitions and the refinancing of the company's capital structure.
Before joining Allen Media Group, Mr.
7 unchanged sentences
Ng holds a Bachelor of Science degree in finance from the University of Illinois at Urbana-Champaign and was a licensed general securities representative (Series 7) and Uniform Securities Agent (Series 63).
−Removed: Felenstein was appointed Executive Vice President and Chief Revenue Officer in April 2017.
+Added: Felenstein was appointed as President of Sales, Marketing & Partnerships in July 2021.
+Added: Prior to this appointment, Mr.
+Added: Felenstein served as Executive Vice President and Chief Revenue Officer since April 2017.
Prior to joining NCM, Inc., Mr.
13 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.