Filing Alert: Memstar USA Chapter 11

Memstar USA, Inc., a Conroe, TX-based provider of advanced membrane filtration solutions for water and wastewater treatment, filed for Chapter 11 protection on Feb. 7 in the U.S. Bankruptcy Court for the Southern District of Texas.

The company, in coordination with its sole stockholder, Memstar Holdings Pte Ltd., a Singaporean private company, launched a sale process in early 2024 to divest substantially all assets. Despite bona fide offers from two qualified buyers, no agreement was reached. By Q3 2024, ongoing financial distress left the company unable to sustain operations or meet debt obligations. After evaluating all options, it determined that filing for Chapter 11 bankruptcy is in its best interests.

The company reports $8.7 million in assets and $10.5 million in liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 25-30764.

Top Unsecured Claims

Key Parties

Counsel:

• Michael J. Durrschmidt
• Dykema Gossett PLLC
• Email: mdurrschmidt@dykema.com

Signatories:

• Bhasker Dave – CEO and Board Member

Equity Security Holders:

• Memstar Holdings Pte Ltd. – 100% Equity Interest

Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.

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