Filing Alert: Klöckner Pentaplast Affiliates File Chapter 11
Klöckner Pentaplast Affiliates File Chapter 11 in Southern District of Texas
Update (Nov. 5, 2025): A comprehensive case summary is now available for the Chapter 11 bankruptcy filing of Kleopatra Finco S.à r.l.
Kleopatra Finco S.à r.l. and its debtor affiliates⁽¹⁾, which form a part of the Klöckner global packaging group, filed for Chapter 11 protection on Nov. 4 in the U.S. Bankruptcy Court for the Southern District of Texas.
The prepackaged filing aims to implement a comprehensive deleveraging via a Restructuring Support Agreement (RSA) with parties holding over two-thirds of claims across its key debt tranches, including an ad hoc group of lenders, SVP Funds and CastleKnight Funds. The plan will eliminate approximately €1.3 billion of funded debt and is supported by a €984 million DIP facility from the ad hoc group. The DIP includes €215 million in new money, a €134 million takeout of a prepetition bridge loan, and a €635 million roll-up of first lien claims. Under the plan, first lien claims will receive 100% of the new equity, second lien claims will receive their pro rata share of €17.5 million in exit financing notes, and general unsecured claims will be unimpaired.
The company reports $1 billion to $10 billion in both assets and liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 25-90642.
⁽¹⁾ For a complete list of debtor entities, see the Chapter 11 Debtors table.
Chapter 11 Debtors
Top Unsecured Claims
Key Parties
Co-bankruptcy Counsel:
- John F. Higgins
Porter Hedges LLP
Email: jhiggins@porterhedges.com
Restructuring Counsel:
- Kirkland & Ellis LLP
Restructuring Counsel:
- Kirkland & Ellis International LLP
Investment Banker:
- PJT Partners, Inc.
Financial Advisor:
- Alvarez & Marsal North America, LLC
Tax Advisor:
- Ernst & Young LLP
Signatories:
- Marc Rotella – Authorized Signatory
Claims Agent:
Equity Security Holders:
- Kleopatra Holdings 2 – 100% Equity Interest
Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.
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