January 23, 2025
Fuel refiner Vertex has effectuated its plan to emerge from bankruptcy by recapitalizing with up to $100 million in new financing while handing equity to old lenders, and experts say it may fare better now by focusing on conventional oil production.
December 20, 2024
Bankrupt fuel refining company Vertex Energy Inc. received approval Friday from a Texas judge for a Chapter 11 plan that will recapitalize the company with up to $100 million of new financing when it emerges from bankruptcy.
December 17, 2024
Fuel refiner Vertex Energy Inc. has informed a Texas bankruptcy judge it canceled a Chapter 11 sale hearing that was initially scheduled for Tuesday, and that the company was instead pursuing a recapitalization transaction with its lenders after a worthwhile acquisition bid failed to materialize.
November 18, 2024
A Texas bankruptcy judge Monday approved the disclosure statement for fuel refiner Vertex Energy's Chapter 11 plan, which could pave a path for recovery to unsecured creditors after a global settlement was reached with the creditor's committee and lender groups.
October 29, 2024
A Texas bankruptcy judge on Tuesday granted Vertex Energy final approval to use the rest of its $280 million in Chapter 11 funding after the debtor told the court it had negotiated a proposal that faced no objections.
September 30, 2024
Johnson & Johnson and the Justice Department are set to face off in a dispute over whether the consumer products giant was justified in putting a talc unit into bankruptcy in Texas this month, after the U.S. Trustee's Office accused J&J of "forum-shopping" its third Chapter 11 filing.
September 25, 2024
Oil refiner Vertex Energy filed for Chapter 11 protection with $422.5 million in debt and plans to pursue a sale under a prenegotiated restructuring agreement.