Read the complaint of First Midwest Equipment Finance Co. here.
Coal Mining Firm Succumbs to Market Conditions, Employee Benefit PaymentsArmstrong Energy Inc. and 8 affiliates sought protection from up to $500 million in liabilities in the Eastern District of Missouri. The chapter 11 petition was signed by J. Hord Armstrong III. According to court records, the bankruptcy is a result of pricing pressure, increased regulation, employee-benefit obligations and market conditions.
Read the declaration of Chief Restructuring Officer Alan Boyko here.
Italian Chemicals Firm Descends Further Into BankruptcyMossi & Ghisolfi International S.a.r.l. and 11 affiliates sought protection from up to $1 billion in liabilities in the District of Delaware. The chapter 11 petition was signed by Chief Restructuring Officer Dennis Stogsdill. Last week, M&G Polymers USA sought protection from up to $500 million in liabilities a week after its parent filed for creditor protection in Italy. According to media reports, the bankruptcy is due to a cash crunch caused by overruns at an unfinished Texas factory.
Read the declaration of Nexion Health Management Treasurer Keith J. Mutschler here.
Arizona Tex-Mex Eatery Addresses Shortfall of Cash in CourtAfter failing to generate sufficient cash flow to cover all operating expenses and to meet long-term lease obligations to some of its landlords, Z’Tejas Southwestern Grill and Taco Guild, sought protection from up to $10 million in liabilities. The chapter 11 petition of the parent company, Cornbread Ventures, LP, was signed by CEO Michael Stone.
Care Center, Affiliates Seek Mercy in CourtCC Care LLC and nine affiliates sought protection from up to $10 million in liabilities in the Northern District of Illinois. The chapter 11 petition was signed by Manager Patrick Laffey. Some $117,442.20 is owed to the Illinois Council on Long Term Care and $475,119.11 is owed to Rehab Care.