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Anesthesia Healthcare Partners Files for Bankruptcy

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Anesthesia Healthcare Partners Inc. has filed for bankruptcy protection while in a court battle with one of the country's biggest medical-insurance companies, Dow Jones Daily Bankruptcy Review reported today. Officials put Anesthesia Healthcare into chapter 11 protection on Thursday in Atlanta, stating that the company faces more than $10 million in debt. Earlier this year, Anesthesia Healthcare sued Cigna Corp. to recover about $17 million it says it is owed for services it provided to thousands of Cigna-covered patients, according to papers filed in U.S. District Court in Atlanta.

Energy Future Holdings Files for Chapter 11

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Energy Future Holdings Corp. filed for chapter 11 protection today after months of negotiations with creditors aimed at speeding the restructuring of the private-equity backed utility's debt load of more than $40 billion, the Wall Street Journal reported today. With more than $100 million in skipped debt payments coming due this week, the Texas energy company sought protection in the U.S. Bankruptcy Court in Wilmington, Del., with a plan that involves parceling out the company to appease lenders. In broad outline, Energy Future, once known as TXU Corp., hopes to swap Texas Competitive Electric Holdings, a subsidiary that sells power in wholesale markets to big companies and other utilities, to get $25 billion worth of debt forgiven. Additionally, the company has been in discussions with bondholders owed roughly $1.7 billion about converting their debt to ownership stakes in Energy Future Intermediate Holding Co., the subsidiary that owns Oncor, the company's regulated business that delivers power to more than 10 million customers across Texas.

Carols Daughter Companies File for Bankruptcy

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Companies affiliated with Carol’s Daughter filed for Chapter 11 bankruptcy protection Thursday in connection with the beauty brand’s move to close most of its stores, the Wall Street Journal reported today. CD Stores LLC, formerly known as Carol’s Daughter Stores LLC, filed its chapter 11 petition with the Manhattan bankruptcy court, as did the individual companies behind Carol’s Daughter stores. Court papers show that CD Stores is 100 percent owned by parent company Carol’s Daughter Holdings LLC (the parent company didn’t file for bankruptcy). And the petition, which reported assets and debts each in the $1 million to $10 million range, was signed by Carol’s Daughter Chief Financial Officer John D. Elmer.

Genco Shipping Files for Bankruptcy Protection

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Genco Shipping & Trading Ltd. said that it filed for pre-packaged chapter 11 protection after struggling with weak rates due to an oversupply of vessels, Reuters reported yesterday. The dry bulk shipper said that it expected its operations to continue normally and did not require debtor-in-possession finance. Lenders backing a $1.06 billion credit facility would convert their debt into about 81.1 percent of company's stock, the company said earlier this month. Genco said yesterday that Baltic Trading Ltd., a company formed by Genco, and its units are not included in the restructuring program. Genco listed total assets of about $2.46 billion and liabilities of $1.46 billion, as of Feb. 28, according to its bankruptcy petition.

N.W. Holding Trucking Firm Files for Bankruptcy

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N.W. Holding Co., a St. Louis-based commercial truck leasing, repairing and fueling company, has filed for bankruptcy and is seeking to reorganize, the St. Louis Post-Dispatch reported today. Several other related companies also owned by the Costello family simultaneously filed for chapter 11 bankruptcy: Nu-Way Service Station, Nu-Way Repair Co., Nu-Way Fuel Distributors Co., and Rent-Me Trailer Leasing Inc. Combined, the trucking companies listed estimated liabilities ranging between $2 million and $4 million and estimated assets ranging between $1.6 million and $11.6 million, according to court documents.

Brass Instrument Maker S.E. Shires Files for Bankruptcy

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Stephen Shires put his company, S.E. Shires Inc., into bankruptcy last week, telling a bankruptcy judge that the instrument maker has a purchase offer worth more than $1 million from an Eastman Music Co. division that intends to keep the business operating, the Wall Street Journal reported yesterday. The 40-worker company filed for chapter 11 protection last week after tax collectors — in pursuit of unpaid debts — went after the company’s bank account. Turned away by traditional lenders, the company borrowed money instead through factoring companies that provide temporary financing “at an unsustainable interest rate of 20 to 40 percent.” Last year, the company had sales of $2.8 million but lost about $379,000, according to court papers. The purchase offer from Eastman Brass Instruments Inc. would give the company $1 million in cash to pay its debts. The buyer also agreed to extend a $230,000 bankruptcy loan and to help the company get another $700,000 loan later.

Momentive Performance Materials Files for Bankruptcy

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Silicone and quartz producer Momentive Performance Materials Inc., owned by Apollo Global Management LLC , yesterday filed for chapter 11 protection as part of a "restructuring support agreement" with some of its creditors, Reuters reported today. Momentive listed assets and liabilities of above $1 billion, according to its bankruptcy filing. The restructuring includes a $600 million rights offering, which will provide the company a significant equity infusion, along with exit financing commitments of $1.3 billion, it said.

Coldwater Creek Files for Chapter 11 Protection

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Women's clothing retailer Coldwater Creek Inc. filed for chapter 11 protection today, Reuters reported. The retailer listed assets of $10 million-$50 million and liabilities of $100 million-$500 million, according to its bankruptcy filing. The Sandpoint, Idaho-based company said that it has received a commitment for $75 million in debtor-in-possession financing from its existing lender Wells Fargo. Coldwater Creek last October announced plans to seek strategic alternatives, including a possible sale.

Glacial Energy Files for Chapter 11 Bankruptcy

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Glacial Energy Holdings Inc., an electric company that operates in more than 20 states, filed for bankruptcy protection Thursday with a plan to sell its business to Vantage Commodities Financial Services LLC, subject to higher bids at auction, the Wall Street Journal reported today. The company, based in Dallas, Texas, filed for chapter 11 protection along with more than a dozen affiliates listing assets between $500 million and $1 billon and debt of more than $1 billion. Glacial Energy, a retail energy supplier selling electricity and natural gas, filed for bankruptcy after an earlier deal to sell the company fell apart, according to court papers. The company is in default on a loan provided by New York-based Vantage, a joint venture between EDF Trading North America, LLC and VMAC, LLC. It blamed its financial difficulties on changes in consumer behavior and increased market completion, which have taken a significant bite out of its revenue.

Associated Community Services Files for Chapter 11

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Associated Community Services, one of the largest charity telemarketers in the U.S., has filed for chapter 11 protection, the Detroit Free Press reported today. The company, which keeps as much as 90 percent of the money it raises for its not-for-profit clients, has come under fire in various states for some of its phone tactics. In March, for example, the company agreed to a $45,000 settlement with the Michigan Attorney General’s office for misleading senior citizens in their phone pitches. ACS names 39 creditors in the court documents it submitted last month, including AT&T, the cities of Dearborn and Southfield, Ricoh, PNC Bank, Oakland County, a Missouri law firm and a Syracuse, N.Y. headphones company. It owes the IRS more than $15.5 million and the state of Michigan more than $1.1 million, according to court documents.