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ASHINC Corporation

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Case overview

Case Number:

1:12-bk-11564

Court:

Delaware

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

  1. September 05, 2013

    Creditors, Teamsters Blast Allied's $105M Asset Sale

    The unsecured creditors of Allied Systems Holdings Inc. and a key union on Wednesday objected to the bankrupt car hauler's proposed $105 million sale to a pair of private equity firms, saying the deal was structured as a way to liquidate the company rather than keep its assets operating.

  2. September 03, 2013

    Allied's Ch. 11 Auction Called A 'Sham' By Losing Bidder

    The losing bidder for Allied Systems Holdings Inc. urged a Delaware bankruptcy judge Tuesday to reject a proposed $105 million sale to a pair of private equity firms, saying the car hauler's Chapter 11 auction was a "sham" that ignored court-approved rules.

  3. July 02, 2013

    Allied Exec Bonus Plan Would Pay $3M If Sale Tops $200M

    Bankrupt Allied Systems Holdings Inc. sought approval Monday for a bonus plan that would see top executives share as much as $2.85 million if the car hauler's planned Chapter 11 sale brings in more than $200 million.

  4. June 19, 2013

    Allied Wins $33.5M Replacement Loan Over Yucaipa Protest

    A Delaware bankruptcy judge on Wednesday approved a $33.5 million replacement post-petition loan and sale plan for Allied Systems Holdings Inc. over the objection of original lender Yucaipa Cos. Ltd., which had argued that the terms gave the replacement private equity lenders too much leverage.

  5. June 14, 2013

    Yucaipa Slams Revisions To Allied's $33.5M Loan, Sale Plan

    Allied Systems Holdings Inc.'s bankruptcy lender and majority owner, Yucaipa Cos. Ltd, said Friday that it's not satisfied with revisions to the company's proposed $33.5 million replacement loan and sale plan, arguing that the replacement private equity lenders would still have too much power.

  6. May 31, 2013

    Bankruptcy Judge Blasts Allied's Proposed $33M Loan

    A Delaware bankruptcy judge on Friday refused to consider Allied Systems Holdings Inc.'s request for $33.5 million in replacement post-petition financing from two private equity lenders, calling the proposal "dead on arrival," and chastising the parties for bringing him a motion that fell so short.

  7. May 29, 2013

    Allied Creditors Look To Regulate Use Of $15M D&O Policy

    Unsecured creditors of private equity-owned Allied Systems Holdings Inc. asked a Delaware bankruptcy judge Tuesday to restrict its board's ability to tap a $15 million directors and officers insurance policy to recoup legal expenses from a related suit, saying unlimited access would drain the car hauler's assets.

  8. May 24, 2013

    Allied Seeks Permission For Asset Auction, New DIP Loan

    Bankrupt Allied Systems Holdings Inc. has asked a Delaware bankruptcy judge to approve an auction of its assets, including a stalking horse bid and a $33.5 million replacement debtor-in-possession loan from its lenders Black Diamond Capital Management LLC and Spectrum Investment Partners LP.

  9. March 21, 2013

    Allied Creditors Get OK To Pursue $57M Suit Against Yucaipa

    A Delaware bankruptcy judge on Thursday gave unsecured creditors of Allied Systems Holdings Inc. the green light to pursue a suit that seeks to recover $57 million from private equity owner Yucaipa Cos. Ltd. and subordinate the firm's claims to those of other lenders.

  10. February 04, 2013

    $57M Suit Says Yucaipa Schemed To Take Control Of Allied

    Unsecured creditors of Allied Systems Holdings Inc. launched a $57 million adversary complaint Friday seeking to subordinate the claims of Allied's private equity owner Yucaipa Cos. Ltd., the latest salvo in a dispute over Yucaipa's alleged scheme to wrest control of the company from creditors.