PGR Lessee I and 18 affiliates filed for Chapter 11 after a New York court ordered nine of the debtors to post $30.2 million of collateral under a surety indemnity agreement they say was signed without authority, and will pursue a restructuring that may include a sale of their 17 solar projects.
LIV Golf filed for Chapter 11 after PIF ended equity funding for the loss-making league, entering with an RSA for a $300 million BC Partners-anchored investment in a restructured "LIV 2.0," with the cases funded by a $49.6 million PIF DIP facility and an orderly wind-down as the alternative.
Noble Supply & Logistics, a longtime U.S. government supply and logistics contractor, filed for Chapter 11 after DLA contract non-renewals, a capital-intensive ramp-up and a government shutdown drained liquidity, pursuing a dual-track going-concern sale or orderly wind-down.
BioXcel Therapeutics filed for Chapter 11 after its sole approved product, IGALMI, never reached commercial scale and revenue could not support roughly $112 million of secured debt, pursuing a 363 sale to stalking horse Teva for $57.5 million cash plus up to $67.5 million in milestone payments.
BFG Supply, a lawn, garden and greenhouse products distributor, filed for Chapter 11 after sales force turnover drove customer attrition and suppliers tightened trade credit, pursuing a going-concern sale alongside an already-underway inventory liquidation, funded by a DIP facility of up to $55M.
Braskem Idesa, the Mexican petrochemical joint venture behind the Etileno XXI complex, filed for Chapter 11 after Pemex ethane shortfalls forced costly imported feedstock amid a prolonged downcycle, with an RSA backed by ~79% of secured debt to cut funded debt by over $920 million.
777 Partners, 600 Partners and affiliates filed for Chapter 11 after a two-year wind-down of their investment platform, amid lender fraud litigation, SEC and criminal proceedings, and an involuntary petition. The Debtors are seeking a $24.95 million DIP facility from existing lenders.
Hughes Satellite Systems, EchoStar's broadband and satellite services segment, filed Chapter 11 with $61.2M of cash against ~$1.5B of senior notes that matured prepetition, citing low-earth-orbit competition; noteholders intend to seek standing to pursue estate claims they value above $1.7B.
Vi-Jon filed for Chapter 11 after talc claims rose roughly 400% since 2023 and nominal projected liability reached $720 million, seeking to channel all talc claims to a 524(g) trust anchored by a $25 million affiliate contribution under a prepetition restructuring support agreement.
Alkegen, the Clearlake-backed specialty materials maker formed in Unifrax's debt-funded 2021 acquisition of Lydall, filed a prepackaged Chapter 11 to shed roughly $3.1B of its $3.5B of funded debt, with first lien creditors taking substantially all of the reorganized equity.
Gordon Companies Files Chapter 11 in Western District of New York
Air Baltic Files Chapter 11 in Southern District of New York
McKee and Company Electric Files Chapter 11 in Northern District of California
Hamilton Street Associates Files Chapter 11 in District of New Jersey
P6NT Files Chapter 11 in Middle District of Florida
PGR Lessee I Files Chapter 11 in Southern District of Texas
88 Industrial Park Road Blvd Files Chapter 11 in District of New Jersey
LIV Golf Files Chapter 11 in District of New Jersey
SteelBlue Building Components Files Chapter 11 in Northern District of Georgia