New Delaware Chapter 11 Filing – Consolidated Infrastructure Group, Inc.
Consolidated Infrastructure Group, Inc. has filed a petition for relief under chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 19-10165). CIG, based in Omaha, NE, provides locating, excavation, mapping, engineering and security services on infrastructure repair and construction projects. A First Day Declaration has not yet been filed. Board Declarations attached to the Petition disclose that CIG intends to seek a sale of substantially all of its assets, and will be seeking court approval of $3 million in debtor-in-possession financing provided by CIG’s ultimate equity sponsors, Parallel49 Equity (Fund V), LP, and Parallel49 Equity (Fund V) BC, LP. Omni Management is the proposed claims and noticing agent. The case has been assigned to the Honorable Brendan Linehan Shannon.
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.