Filing Alert: RAS Data Services Chapter 11

RAS Data Services, Inc., a Darien, IL-based provider of outsourced railcar management services for railcar owners, filed for Chapter 11 protection on Aug. 1 in the U.S. Bankruptcy Court for the Northern District of Illinois.

The filing follows the discovery of a $20 million shortfall resulting from the former CEO’s diversion of company funds to cover personal gambling debts between 2016 and 2022. New CEO and CRO Sandor Jacobson, of Plante Moran, was appointed July 11, 2025, and has since led efforts to stabilize operations.

The company reports $10 million to $50 million in both assets and liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 25-11837.

Key Parties

Counsel:

• Adam P. Silverman, Esq.
• Adelman & Gettleman, Ltd.
• Email: asilverman@ag-ltd.com

Signatories:

• Sandor Jacobson – Chief Restructuring Officer

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

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