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U.S. aluminum producer Ormet Corp. has filed for chapter 11 protection, hurt by low aluminium prices and high power costs, and agreed to sell its business to investment firm Wayzata Investment Partners, Reuters reported yesterday. Ormet has received about $90 million of debtor-in-possession financing, $30 million from Wayzata and $60 million from Wells Fargo, the company said yesterday. Ormet listed total liabilities of $416 million and assets of $406.8 million, according to the court filing. The case is Ormet Corp., Case No. 13-10334, U.S. Bankruptcy Court, District of Delaware.

Zacky Farms LLC received bankruptcy court approval to sell its assets to the Robert D. and Lillian D. Zacky Trust, ending weeks of post-auction negotiations over the sale, Dow Jones DBR Small Cap reported today. The poultry company ultimately decided that the $31.6 million offer from the Zacky Trust was the best and highest for its assets after a settlement agreement that increased unsecured creditors' recovery was reached, according to Zacky Farms lawyer Donald W. Fitzgerald of Felderstein Fitzgerald Willoughby & Pascuzzi LLP.

Banah International Group, a Hialeah-based sugar and export company that was approved for financial incentives by Miami-Dade County in 2011, filed for chapter 11 protection on Friday, the South Florida Business Journal reported on Saturday. The approval of incentives for Banah attracted attention because of media reports that owner president Alexander I. Perez was previously convicted for cocaine trafficking. The company's bankruptcy petition said that it has between $1 million and $10 million in debt and a similar range for assets.

Bankruptcy Judge Sean Lane will hold a hearing to review AMR Corp.'s planned merger with US Airways Group Inc. on March 27, while the court's assessment of a contentious plan for AMR's commuter-airline unit has been pushed back two weeks to March 12, the Wall Street Journal reported today. The parent of American Airlines asked Judge Lane for a hearing on the merger in a court document filed yesterday, requesting that any objections be filed by March 15, and the judge acceded to the request.

Roger A. Parker, a key figure in a Denver insider-trading case, has filed for chapter 11 protection, the Denver Business Journal reported today. Parker, who the Securities and Exchange Commission accuses of feeding inside information about his company to a friend, listed both assets and liabilities in the range of $10 million to $50 million in his chapter 11 filing. Parker was CEO of Delta Petroleum from 2002 until he resigned in 2009, and had been in management with the company since 1987. Delta Petroleum filed for chapter 11 protection in December 2011. The reorganized company emerged as Par Petroleum and relocated its headquarters to Houston in September.

For more on oil, gas and other natural resources company bankruptcies, be sure to pick up a copy of ABI's When Gushers Go Dry: The Essentials of Oil & Gas Bankruptcy.

Coal mine operator America West Resources Inc. received bankruptcy court approval to access $150,000 of its bankruptcy financing, funds that will allow the company to continue operating as it attempts to sell its assets, Dow Jones DBR Small Cap reported today. America West has secured a total of $845,000 in bankruptcy financing from Denly Utah Coal LLC, which has a 39 percent stake in the company.

Continuing care retirement community WindsorMeade is planning to file for chapter 11 protection early next month, the Virginia Gazette reported today. The community will operate uninterrupted during the process, and will continue to provide services and care to its residents. The company's restructuring plan is aiming to facilitate financing for the future expansion of WindsorMeade’s health care facility, with construction expected to begin next year.

LSP Energy won court approval to keep control over its bankruptcy case while it awaits regulatory approval of the $272.6 million sale of its Mississippi power plant, Dow Jones DBR Small Cap reported today. Bankruptcy Judge Mary F. Walrath on Tuesday extended LSP Energy's exclusive control of the chapter 11 case through April 21.

Gabriel Technologies Corp., a developer of global-positioning technology, filed for chapter 11 bankruptcy last week after a billion dollar lawsuit the company filed in 2008 against Qualcomm Inc. backfired, Bloomberg News reported yesterday. Having sued Qualcomm for patent infringement, Gabriel's doom was sealed in October when a federal district judge dismissed the last of the claims against San Diego-based Qualcomm. Earlier this month Qualcomm won a $12.4 million judgment against Gabriel for pursuit of what Qualcomm called an "objectively baseless" lawsuit brought in "bad faith." Gabriel claimed in the chapter 11 petition that assets and debt both exceed $10 million. The case is In re Gabriel Technologies Corp., 13-30340, U.S. Bankruptcy Court, Northern District California (San Francisco).

The owner of the struggling Revel casino in Atlantic City, N.J., is preparing to file for chapter 11 protection in the coming weeks, less than a year after the casino opened, the Wall Street Journal reported today. Revel AC Inc., which carries about $1.5 billion in debt, said yesterday that it has reached a deal with investment-firm lenders on a prearranged bankruptcy plan. It anticipates seeking chapter 11 protection as soon as mid-March, and the casino company is expected to continue paying employees and operate normally during the bankruptcy proceedings. Under the terms of the deal, Revel's creditors will forgive debt for ownership stakes in a restructured Revel, reducing the casino's obligations by more than $1 billion.