New Delaware Chapter 11 Filing – MTE Partners LLC
On October 23, 2019, MTE Partners LLC filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware. This filing follows closely on the heels of Tuesday’s filing by the affiliated MTE Holdings LLC (Lead Case No. 19-12269-KBO). The petition indicates that another affiliate, Olam Energy Resources I LLC, will also file a petition under Chapter 11. The Debtor reports assets between $10-50 billion and liabilities between $100-500 million. The cases have been assigned to the Honorable Karen B. Owens.
Cole Schotz does not represent the Debtors in this case. We are posting this for informational purposes only. If you have received a notice and have any questions, you should contact Debtors’ counsel.
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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