Judge Clears Barzel Creditors To Vote On Ch. 11 Plan

Law360, New York (July 26, 2011, 5:19 PM EDT) -- A Delaware bankruptcy judge approved metal processor Barzel Industries Inc.'s Chapter 11 disclosure statement Tuesday, giving creditors until Aug. 29 to vote on a plan that contemplates paying two major noteholders after priority claims are paid out.

Burdened with $375 million in debt, Norwood, Mass.-based Barzel and seven affiliated debtors blamed a recession-triggered business slowdown for their September 2009 bankruptcy and sold off most of their assets to Chriscott USA Inc. for $75 million in November 2009.

"The recoveries expected to be available to the holders...
To view the full article, register now.




Case Information

Case Title

Barzel Industries Inc.

Case Number




Nature of Suit

Date Filed

September 15, 2009

Law Firms


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.