New Delaware Chapter 11 Filings – Vertellus Specialties, Inc. et al.
Vertellus Specialties, Inc., a global manufacturer of fine and specialty chemicals, and ten affiliates have filed chapter 11 petitions before the United States Bankruptcy Court for the District of Delaware (Lead Case No. 16-11290). The filings do not include the debtors’ affiliates in Belgium, the United Kingdom, India or China or Vertellus Performance Chemicals, based in Elma, Washington. The company will seek authority to obtain $110 million in debtor-in-possession financing and to sell substantially all of their assets, with their pre-petition lenders serving as stalking horse bidders. The petitions for each debtor are provided through the links below. The debtors’ first day declaration and the docket are available through Kurtzman Carson Consultants. The debtors have issues a press release regarding their reorganization.
Debtor Case No.
Vertellus Specialties Holding Corp. 16-11289
Vertellus Specialties Inc. 16-11290
Vertellus Agriculture & Nutrition Specialties LLC 16-11291
Tibbs Avenue Company 16-11292
Vertellus Specialties PA LLC 16-11293
Vertellus Health & Specialty Products LLC 16-11294
Vertellus Specialties MI LLC 16-11295
Vertellus Performance Materials Inc. 16-11296
Rutherford Chemicals LLC 16-11297
Solar Aluminum Technology Services (d/b/a S.A.L.T.S.) 16-11298
MRM Toluic Company, Inc. 16-11299
Each debtor has filed its own list of top creditors
Contact Norman L. Pernick, Nicholas J. Brannick, or David W. Giattino for more information.
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