New Delaware Chapter 11 Filing – Beavex Holding Corporation et al.

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Beavex Holding Corporation, along with four subsidiaries and affiliates, has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-10316).  Beavex, headquartered in Atlanta, Georgia, is a nationwide provider of time-critical transportation and logistics services.  According to the First Day Declaration, Beavex has filed as a result of costs overruns and limited ability to raise additional capital.  A press release issued by Beavex discloses that Beavex intends to sell substantially all of its assets, with certain affiliates of TFI International, Inc. serving as stalking horse.  The Bid Procedures Motion can be found hereStretto is the proposed claims and noticing agent.  The cases have been assigned to the Honorable Laurie Selber Silverstein.

Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter.

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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