Filing Alert: SIMAD Holdings Chapter 11

SIMAD Holdings Ltd. and its debtor affiliates⁽¹⁾, a Trumbull, CT-based owner and operator of summer camps, filed for Chapter 11 protection on Jun. 4 in the U.S. Bankruptcy Court for the District of New Jersey.

The company reports $100 million to $500 million in assets and $500 million to $1 billion in liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 26-16388.

⁽¹⁾ For a complete list of debtor entities, see the Chapter 11 Debtors table.

Chapter 11 Debtors

Key Parties

Counsel:

• Michael D. Sirota
  Cole Schotz P.C.
  Email: msirota@coleschotz.com

Signatories:

• Assaf Ravid – Chief Restructuring Officer

Claims Agent:

• Kroll Restructuring Administration LLC

Equity Security Holders:

• Michael Shabsels – 50% Equity Interest
• David Shabsels – 50% Equity Interest

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

Stay informed on every Chapter 11 bankruptcy case with liabilities exceeding $10 million. Subscribe for free to have our coverage delivered directly to your inbox, and explore our full archive of past summaries.

Explore Bondoro Insights for live case dockets and comprehensive coverage of material filings from petition to plan confirmation.