New Chapter 11 Filing – OSG Group Holdings, Inc.
On August 6, 2022, OSG Group Holdings, Inc., which provides transactional, marketing, and payment solutions to various industries, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 22-10718). The company also filed a prepackaged plan of reorganization. Under the plan, OSG’s secured debt and unsecured notes would receive a combination of new and refinanced debt and substantially all reorganized equity, while unsecured claims would receive payment in full or be reinstated. The company reports $500 million to $1 billion in assets and $1 to $10 billion in liabilities.
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