$50 Million Restructuring
The Client
Northwest based producer of pure, unblended biodiesel refined from a variety of oils in the Pacific Northwest and Canada with an emphasis on fuel quality and environment sustainability.
The Situation
The company was facing insurmountable debt with a large number of creditors and limited access to capital. The attorneys for the company’s private equity sponsors and law firm had determined that the company could not support the administrative costs associated with a Chapter 11 and still continue to operate.
The Solution
Business Capital, introduced to the company by its private equity sponsors and law firm, amicably resolved over $50 million in creditor claims from over 100 creditors spread over 4 countries. The creditors ranged from government agencies, leasing companies, maritime shipping companies, railroads, trading companies, Fortune 500 companies, to vendors and suppliers. This out-of-court restructuring saved the company from filing for bankruptcy and liquidation.
Recent Comments