New Chapter 11 Filing – PES Holdings, LLC

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PES Holdings, LLC, along with seven of its affiliates, has filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-11626).  The filing comes approximately one and half years after the Debtors previous filed under chapter 11 (Lead Case No. 18-10122).  The Debtors report an estimated $1B-10B in both assets and liabilities.  The Debtors have proposed Omni to serve as the claims agent.  The cases have been assigned to the Honorable Kevin Gross.

For more information regarding this matter, please contact Norman L. Pernick or G. David Dean.

As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.

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