Equipment Co. Ahern Rentals Declares Ch. 11

Law360, New York (December 22, 2011, 8:58 PM EST) -- Equipment rental company Ahern Rentals Inc. filed for Chapter 11 bankruptcy in Nevada on Thursday, saying it was unable to extend the maturity of its revolving credit facility past its August maturity date.

The company cited between $500 million and $1 billion in both assets and liabilities in its petition, but did not include more specific amounts. The company said it had reached an agreement with existing lenders for debtor-in-possession financing with approximately $50 million of availability, according to a press release.

According to Ahern, the...
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