As reported earlier, Key Plastics, LLC filed for bankruptcy yesterday in Delaware. The following is the list of “first day” documents filed today by the company (click on the document title to view the document):
- Motion for an Order Directing Joint Administration of Chapter 11 Cases
- Motion for an Order (I) For Authority to (A) Continue Their Workers Compensation Programs and Their Liability, Property, and Other Insurance Programs and (B) Pay All Obligations in Respect Thereof and (II) for Authorization of Financial Institutions to Honor and Process Checks and Transfers Related to Such Obligations
- Motion for an Order (I) Authorizing Payment of Wages, Salaries, Compensation, and Employee Benefits and (II) Authorizing the Debtors Financial Institutions to Honor and Process Checks and Transfers Related to Such Obligations
- Motion for an Order For (I) Authority to (A) Honor Their Prepetition Insurance Premium Financing Agreements and (B) Renew Their Premium Financing Agreements in the Ordinary Course of Business, and (II) for Authorization of Financial Institutions to Honor and Process Checks and Transfers Related to Such Obligations
- Motion for Interim and Final Orders (I) Prohibiting Utilities From Altering, Refusing, or Discontinuing Service; (II) Deeming Utilities Adequately Assured of Future Performance; and (III) Establishing Procedures for Determining Adequate Assurance of Payment
- Motion for Authorization to Pay Prepetition Claims of Certain Creditors in the Ordinary Course of Business
- List of Creditors
- Motion for Authorization to (I) Incur Certain Obligations Under a Backstop Purchase and Contribution Agreement and (II) Pay Related Costs, Fees, and Expenses
- Motion for an Order (I) Authorizing Debtors to (A) Continue Existing Cash Management System, (B) Maintain Existing Bank Accounts and Business Forms, and (C) Continue Intercompany Arrangements, Including Intercompany Loans, and Historical Practices with Non-Debtor Affiliates and (II) Granting an Extension of Time to Comply With Section 345(b) of the Bankruptcy Code
- Joint Prepackaged Plan of Reorganization of Key Plastics L.L.C. and Key Plastics Finance Corp.
- Disclosure Statement Relating to the Joint Prepackaged Plan of Reorganization of Key Plastics L.L.C. and Key Plastics Finance Corp.
- Motion for an Order (I) Scheduling a Combined Hearing to Consider (A) Approval of the Disclosure Statement, (B) Approval of Solicitation Procedures and Forms of Ballots, and (C) Confirmation of the Prepackaged Plan; (II) Establishing an Objection Deadline to Object to the Disclosure Statement and the Prepackaged Plan; (III) Approving the Form and Manner of Notice Thereof; and (IV) Granting Related Relief
- Vote Certification of Financial Balloting Group LLC
- Application for Authorization to (I) Employ and Retain Kurtzman Carson Consultants LLC as Claims and Noticing Agent for the Debtors and (II) Appoint Kurtzman Carson Consultants LLC as Agent of the Bankruptcy Court
- Application for Authorization to Employ and Retain Financial Balloting Group LLC as Rights Offering Solicitation Agent to the Debtors Nunc Pro Tunc to the Commencement Date) Financial Balloting Group LLC as Rights Offering Solicitation Agent to the Debtors
- Motion for Entry of Orders (I) Authorizing the Debtors to (A) Obtain Post-Petition Senior Secured Super-Priority Financing, (B) Utilize Cash Collateral of Pre-Petition Lenders, (II) Granting Adequate Protection to Pre-Petition Lenders, and (III) Scheduling Final Hearing, and (IV) Granting Related Relief
- Declaration of John B. Wilson in Support of the Debtors’ Chapter 11 Petitions and Request for First Day Relief
- Motion for an Order (I) Extending the Time to File Schedules of Assets and Liabilities, Schedules of Executory Contracts and Unexpired Leases, Lists of Equity Security Holders, Schedules of Current Income and Expenditures and Statements of Financial Affairs, and (II) Permanently Waiving the Requirements to File Same Upon Confirmation of the Plan
- Motion for Authorization to Employ Professionals Used in the Ordinary Course of Business
- Motion for Authorization to Reject and Unexpired Lease of Nonresidential Real Property with Eight Mile/Haggerty Office, L.L.C.
- Application to Employ Weil, Gotshal & Manges LLP as Attorneys for the Debtors
- Application to Employ Chanin Capital Partners LLC as Financial Advisors to the Debtors
Categories: Bankruptcy and Restructuring News · Disclosure Statement · Major Bankruptcy Case Events · New Bankruptcy Filings · Plan of Reorganization
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Key Plastics, LLC voluntarily filed for bankruptcy yesterday in the United States Bankruptcy Court for the District of Delaware. The company is a “supplier of a broad range of highly engineered plastic components and functional assemblies to automotive original equipment manufacturers of light vehicles . . . and direct, or tier 1, suppliers to OEMs in Europe, North America and Asia.” Concurrently with the filing, the company filed a proposed prepackaged plan of reorganization, which will be detailed in a subsequent post.
Key facts about the filing:
- Assets: $345 million
- Revenues: $630 million
- Employees: 5,000
- Debtor Counsel: Weil, Gotshal & Manges LLP
Download every document filed in the Key Plastics bankruptcy using netDockets. Sign up now for a free trial account.
Categories: Bankruptcy and Restructuring News · Disclosure Statement · Major Bankruptcy Case Events · New Bankruptcy Filings · Plan of Reorganization
Tagged: automotive, bankrupt, bankruptcy, chapter 11, equipment, finance, gotshal, key, key plastics, manges, manufacturer, original, plan, plastic, plastics, prepackaged, reorganization, supplier, tier 1, tier 2, weil
Categories: Bankruptcy and Restructuring News · Major Bankruptcy Case Events
Tagged: affairs, asset, bankrupt, bankruptcy, cat, chapter 11, claim, creditor, dispute, Energy, financial, financial affairs, liabilities, liability, schedule, statement, storm, storm cat, storm cat energy, usa
Categories: Bankruptcy and Restructuring News · Major Bankruptcy Case Events
Tagged: affairs, asset, assets, bankrupt, bankruptcy, chapter 11, claim, creditor, dispute, financial, financial affairs, hills, liabilities, liability, palmdale, palmdale hills, property, schedule, statement
Categories: Bankruptcy and Restructuring News · Major Bankruptcy Case Events
Tagged: affairs, asset, bankrupt, bankruptcy, chapter 11, claim, creditor, dispute, financial, greatwide, gwls, liabilities, liability, logistics, schedule, statement
Categories: Bankruptcy and Restructuring News · Major Bankruptcy Case Events
Tagged: bankrupt, bankruptcy, bar, bar date, chapter 11, claim, creditor, date, deadline, file, filing, obligation, order, prepetition, proof, proof of claim, space, world, worldspace
Yesterday, Hawaiian Telcom Communications, Inc. filed a motion with the bankruptcy court in Delaware (where its bankruptcy case is currently filed) seeking approval of a stipulation with the State of Hawaii and the transfer of the case to the United States Bankruptcy Court for the District of Hawaii.
Hawaiian Telcom filed a voluntary petition with the bankruptcy court in Delaware on December 1, 2008, but the Department of the Attorney General for the State of Hawaii requested that the debtors seek to transfer venue for the chapter 11 cases to Hawaii. The company has apparently agreed that the local interest of the State of Hawaii in the company, which is the incumbent local exchange carrier for Hawaii, outweighs the company’s business justifications for filing in Delaware and have consented to the proposed transfer of venue.
Download a copy of the motion and proposed stipulation using netDockets. Sign up now for a free trial account.
Categories: Bankruptcy and Restructuring News · Major Bankruptcy Case Events
Tagged: attorney, bankrupt, bankruptcy, chapter 11, communications, court, delaware, general, hawaii, hawaiian, hawaiian telcom, hawaiian telcom communications, telcom, telecom, transfer, venue
Yesterday, Linens ‘n Things (Linens Holding Co.) filed notices of rejection with respect to an additional 77 store leases with the bankruptcy court. As reported earlier, Linens ‘n Things also filed 54 notices of rejection with the bankruptcy court on Friday.
The stores are located in a wide variety of locations across the country. The notices are part of Linens ‘n Things’ plan to wind up its operations and liquidate its assets.
Copies of the notices, which identify the locations with specificity, can be accessed here.
Categories: Bankruptcy and Restructuring News · Major Bankruptcy Case Events · Plan of Liquidation
Tagged: 'n, bankrupt, bankruptcy, cancel, chapter 11, chapter 7, court, lease, linens, linens 'n things, linens holding, liquidate, liquidation, notice, reject, rejection, store, terminate, things
