We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Crucible Materials Enters Ch. 11 In Search Of Capital

Law360 (May 7, 2009, 12:00 AM EDT) -- Specialty metals company Crucible Materials Corp. has filed for bankruptcy in a last-ditch effort to secure working capital through debtor-in-possession financing, warning that it may have to liquidate.

Syracuse, N.Y.-based Crucible filed for Chapter 11 protection Wednesday in the U.S. Bankruptcy Court for the District of Delaware. The company also requested permission to obtain a maximum of about $69.4 million in DIP financing.

The company currently has assets and liabilities of at least $100 million each, according to the petition.

Crucible largest unsecured creditors include Sentry...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.