Chapter 11 Bankruptcy Reorganizations

Highway Technologies, Inc. Files For Chapter 11

2013-05-22T16:49:58-04:00

Highway Technologies, Inc. filed for Chapter 11 today at the United States Bankruptcy Court in Wilmington, DE. The Debtor, based in Houston, Texas, is represented by Pachulski Stang Ziehl & Jones LLP.

According to court documents, the Debtors "ceased operations, terminated approximately 740 employees and began the process of securing their assets for sale".

KidsPeace Corporation Files For Chapter 11

2013-05-22T15:40:42-04:00

Debtor Name: KidsPeace Corporation
Year Filed: 2013
Jurisdiction: United States Bankruptcy Court / Eastern District of Pennsylvania
Asset Size: 10,000,000 to 100,000,000
Case Number: 13-14508
Industry: Education, Health

TPO Hess Holdings, Inc. Files For Chapter 11

2013-05-22T13:11:06-04:00

TPO Hess Holdings, Inc. and six affiliates filed a prepackaged Chapter 11 plan of liquidation today at the United States Bankruptcy Court in Wilmington, Delaware. The Debtors are printers based in Kent, Ohio.

According to court papers, the Chapter 11 filing can be attributed to "tight financial covenants", industry overcapacity, pricing pressure and overall macroeconomic challenges.

The Debtors intend to retain Paul, Weiss, Rifkind, Wharton & Garrison LLP as counsel and Young Conaway Stargatt & Taylor, LLP as local counsel. Additionally, the Debtors hope to retain Houlihan Lokey as financial advisor and Deloitte Financial Advisory Services LLP for CRO services.

Cooper-Booth Wholesale Company, L.P. Files For Chapter 11

2013-05-22T12:32:08-04:00

Cooper-Booth Wholesale Company, L.P. filed for Chapter 11 yesterday at the United States Bankruptcy Court, Eastern District of Pennsylvania.

The Mountvile, PA-based convenience store wholesaler is represented by Maschmeyer Karalis P.C.

According to the Debtor's Declaration, a Chapter 11 filing was the best alternative after PNC Bank declared the Debtor in default of their credit facilities. The Default was declared in reaction to a U.S. Government seizure warrant resulting from an investigation of one of the Debtor's customers.

"The Debtors were experiencing sales growth, were operating profitably and the future was bright and prosperous. However, the Debtors have been victims of unfortunate circumstances".