New Delaware Chapter 11 Filing – Dixie Electric, LLC
Dixie Electric, LLC, along with twelve affiliates and subsidiaries, has filed a petition for relief under chapter 11 in the Bankruptcy Code for the District of Delaware (Lead Case No. 18-12477). Dixie Electric, based in Houston, Texas, is a provider of electrical infrastructure materials and services to the upstream and midstream oil industries. According to the First Day Declaration, Dixie Electric has filed for chapter 11 protection as a result of decreased demand, a tightening labor market and unprofitable lump sum contracts. Last week, Dixie Electric announced that it had entered into a restructuring support agreement with an ad hoc group of its secured lenders, and would enter chapter 11 with a pre-packaged plan of reorganization. Dixie Electric is seeking to have a combined hearing on approval of its disclosure statement and confirmation of its prepackaged plan of reorganization held on December 13, 2018. Prime Clerk LLC is the proposed claims and noticing agent. The cases have been assigned to the Honorable Kevin Gross.
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