Insights

Notable Exits From Bankruptcy in 2014

Notable Exits From Bankruptcy in 2014

Company

Filing Date (Bankr. Court)

Conf. Date Effective Date

Assets

Industry

Result

The City of Detroit, Michigan

07/18/2013 (E.D. Mich.)

11/07/2014 CD

12/10/2014 ED

$18 billion (debt)

Municipality

Adjustment

Edison Mission Energy

12/17/2012 (N.D. Ill.)

03/11/2014 CD

04/01/2014 ED

$8.3 billion

Energy

Sale

Cengage Learning, Inc.

07/02/2013 (S.D.N.Y.)

03/13/2014 CD

04/01/2014 ED

$7.5 billion

Print Media

Reorganization

Overseas Shipholding Group, Inc.

11/14/2012 (D. Del.)

07/18/2014 CD

08/05/2014 ED

$4 billion

Shipping

Reorganization

Genco Shipping & Trading Limited

04/21/2014 (S.D.N.Y.)

07/02/2014 CD

07/09/2014 ED

$3 billion

Shipping

Reorganization

Momentive Performance Materials Inc.

04/13/2014 (S.D.N.Y.)

09/11/2014 CD

     

 

 

10/24/2014 ED

$2.7 billion

Manufacturing

Reorganization

Excel Maritime Carriers Ltd.

07/01/2013 (S.D.N.Y.)

01/27/2014 CD

02/14/2014 ED

$2.7 billion

Shipping

Reorganization

W.R. Grace & Co.

04/02/2001 (D. Del.)

06/11/2012 CD

02/03/2014 ED

$2.6 billion

Chemicals

Reorganization

(Asbestos Trust)

USEC, Inc.

(n.k.a. Centrus Energy Corp.)

03/05/2014 (D. Del.)

09/05/2014 CD

09/30/2014 ED

$2.3 billion

Energy

Reorganization

Capital Bancorp Ltd.

08/09/2012 (E.D. Mich.)

01/29/2014 CD

02/03/2014 ED

$2.2 billion

Bank Holding Co.

Liquidation

Eagle Bulk Shipping Inc.

08/06/2014 (S.D.N.Y.)

09/18/2014 CD

10/15/2014 ED

$1.7 billion

Shipping

Reorganization

First Mariner Bancorp

02/10/2014 (D. Md.)

12/09/2014 CD

$1.4 billion

Bank Holding Co.

Liquidation

City of Stockton, California

06/28/2012 (C.D. Cal.)

10/30/2014 CD

$1.0 billion+

Municipality

Reorganization

ITR Concession Company

09/22/2014 (N.D. Ill.)

10/28/2014 CD

$1.0 billion+

Toll Road Operator

Reorganization/Sale

Mercantile Bancorp, Inc.

06/27/2013 (D. Del.)

06/26/2014 CD

06/30/2014 ED

$930 million

Bank Holding Co.

Liquidation

MACH Gen LLC

03/03/2014 (D. Del.)

04/11/2014 CD

04/28/2014 ED

$750 million

Utility

Reorganization

Sorenson Communications Inc.

03/03/2014 (D. Del.)

04/10/2014 CD

04/30/2014 ED

$645 million

Telecom

Reorganization

Tuscany Int’l Drilling Inc.

02/02/2014 (D. Del.)

05/21/2014 CD

06/09/2014 ED

$645 million

Oil Field Services

Reorganization

MModal Holdings, Inc.

03/20/2014 (S.D.N.Y.)

07/15/2014 CD

07/31/2014 ED

$626 million

Medical Services

Reorganization

Furniture Brands International, Inc.

09/09/2013 (D. Del.)

07/14/2014 CD

08/01/2014 ED

$618 million

Retail

Liquidation

Fiber Tower Corp.

07/17/2012 (N.D. Tex.)

01/27/2014 CD

03/31/2014 ED

$559 million

Telecom

Reorganization

GMX Resources Inc.

04/01/2013 (W.D. Okla.)

01/22/2014 CD

02/04/2014 ED

$542 million

Oil and Gas Explor.

Reorganization/Sale

Entegra Power Group LLC

08/04/2014 (D. Del.)

09/19/2014 CD

10/01/2014 ED

$500 million+

Energy

Reorganization

Quiznos Corp.

03/14/2014 (D. Del.)

05/12/2014 CD

07/01/2014 ED

$500 million+

Restaurant

Reorganization

Fresh & Easy

09/27/2013 (D. Del.)

07/02/2014 CD

07/23/2014 ED

$500 million

Retail

Sale

Hartmarx Corp.

01/23/2009 (N.D. Ill.)

05/15/2014 CD

06/01/2014 ED

$483 million

Apparel

Liquidation

The Dolan Company

04/23/2014 (D. Del.)

06/09/2014 CD

06/12/2014 ED

$450 million

Information Services

Reorganization

Brookstone, Inc.

04/02/2014 (D. Del.)

06/24/2014 CD

07/08/2014 ED

$406 million

Retail

Sale

Green Field Energy Services Inc.

10/27/2013 (D. Del.)

03/23/2014 CD

05/12/2014 ED

$352 million

Oil Field Services

Liquidation

Coldwater Creek

04/11/2014 (D. Del.)

09/17/2014 CD

10/01/2014 ED

$346 million

Retail

Liquidation

Sbarro LLC

03/10/2014 (S.D.N.Y.)

05/19/2014 CD

 

 

 

 

 

06/02/2014 ED

$175 million

Restaurant

Reorganization

We use cookies to deliver our online services. Details of the cookies and other tracking technologies we use and instructions on how to disable them are set out in our Cookies Policy. By using this website you consent to our use of cookies.