iHeartMedia, Inc. (PINK: IHRT) and certain of its subsidiaries, including iHeartCommunications, Inc., on March 14, 2018, sought Chapter 11 bankruptcy protection after reaching an agreement in principle with holders of more than $10 billion of its outstanding debt and its financial sponsors.
The agreement reflects widespread support across the capital structure for a comprehensive balance sheet restructuring that will reduce iHeartMedia's debt by more than $10 billion, the Company said in a press statement.
Debtor: Sivyer Steel Corporation
225 S. 33rd Street
Bettendorf, IA 52722
Type of Business: Sivyer Steel -- https://www.sivyersteel.com --
is a supplier of steel castings based in
Bettendorf, Iowa. Sivyer Steel is an ISO
9001:2008 recertified steel foundry, which means
that it meets the International Organization for
Standardization's quality management system.
The Company develops custom steel castings and
components for clients in industries that
include government, private, and public sectors.
Sivyer Steel specializes in military castings,
energy applications, railroad castings, wear
parts, pump & valves, oil & gas, mining,
construction castings, perimeter security, and
agriculture. The Company was founded by
Frederick Lincoln in 1909. An involuntary
Chapter 11 case was filed against the Company
on March 8, 2018, by alleged creditors Sadler
Machine Co., Speyside Machining Holdings, LLC,
and ARCO Manufacturing Corporation.
Chapter 11 Petition Date: March 14, 2018
Case No.: 18-00507
Court: United States Bankruptcy Court
Southern District of Iowa (Davenport)
Debtor: Bendco, Inc.
801 Houston Avenue
Pasadena, TX 77502
Business Description: Bendco, Inc. -- http://www.bendco.com --
is a family-owned business that provides
heat induction bending, cold bending and
coiling services. For more than 30 years,
the Company has offered custom bends and
coils for a wide variety of industries
including stadiums, roller coasters,
bridges, pipeline and subsea structures.
The Company is headquartered in Pasadena,
Chapter 11 Petition Date: February 28, 2018
Case No.: 18-30849
Debtor: To Your Health Sprouted Bread & Flour Co., Inc.
dba To Your Heatlh Sprouted Flour, Co.
1138 Highway 82
Fitzpatrick, AL 36029
Business Description: To Your Health Sprouted Bread and Flour Co.,
Inc., dba To Your Health Sprouted Flour Co.
is a woman-owned food processor business
that offers freshly milled flours from
organic sprouted grains. The sprouting,
drying, and milling processes are all done
in-house at its 14,400 square-foot facility.
The Company makes organic sprouted grain
flours for baking healthy, delicious,
nutrient-rich foods. The Company is
exporting its products to several countries
including Canada, Mexico, Australia, and the
Chapter 11 Petition Date: March 1, 2018
Case No.: 18-30584
Debtor: De Novo Imports, Inc.
51 Hartz Way
Secaucus, NJ 07094
Business Description: De Novo Imports, Inc. --
http://www.denovoimports.com -- is a
fashion accessories supplier in Secaucus,
New Jersey. De Novo designs six different
lines of jewelry that cater to the fashion
needs and tastes of wide array of consumer
segments. De Novo Imports began as a small
family business in 2002.
Chapter 11 Petition Date: February 23, 2018
Case No.: 18-13487
Court: United States Bankruptcy Court
District of New Jersey (Newark)
Shane G. Ramsey of the firm Nelson Mullins Riley & Scarborough LLP submitted to the U.S. Bankruptcy Court for the Middle District of Alabama a verified disclosure in accordance with Rule 2019 of the Federal Rules of Bankruptcy Procedure with respect to Nelson Mullins' representation of members of an ad hoc committee of holders of:
(i) 7.875% Trust Preferred Securities issued pursuant to an Indenture dated as of March 26, 2003, between The Colonial BancGroup, Inc., and U.S. Bank N.A. as Trustee and the Amended and Restated Declaration of Trust dated as of March 26, 2003 between CBG and U.S. Bank N.A. and with a maturity date in 2033; and
(ii) 8.875% subordinated notes issued pursuant to an Indenture dated as of March 1, 2008, between CBG and The Bank of New York Mellon Trust Company, N.A., as successor in interest to The Bank of New York Trust Company, N.A.
Patrick S. Layng, U.S. Trustee for Region 19, appointed on Feb. 13 additional four creditors to serve on the official committee of unsecured creditors in the Chapter 11 case of Mountain Crane Service LLC.
As reported by the Troubled Company Reporter on Jan. 29, 2018, the U.S. Trustee on Jan. 25 appointed three creditors to serve on the Committee -- Trinity Logistics Inc., Coast 2 Coast Logistics, and Western Heavy Haul, Inc.
The Committee now consists of: