June 21, 2023
Bankrupt steel plant servicer Phoenix Services Topco received court approval Wednesday in Delaware for its Chapter 11 plan calling for the equitization of $150 million of its debt that will also keep the business operating as a going concern.
May 11, 2023
Bankrupt global steel plant servicer Phoenix Services has secured clearance to take its $587 million Chapter 11 reorganization to a confirmation hearing in June, under terms that in part will swap $150 million of pre-petition debt into company equity.
October 25, 2022
Several equipment lessors to bankrupt steel plant services company Phoenix Services Topco LLC objected Monday to its Chapter 11 debtor-in-possession financing, saying it would grant lenders liens on assets that the lessors should be able to claim first.
September 28, 2022
Pennsylvania-based global steel mill contractor Phoenix Services Topco LLC and eight affiliates have sought Chapter 11 protection in Delaware, seeking to restructure more than $612 million in secured debt.
September 28, 2022
A Delaware bankruptcy judge balked Wednesday at full approval for global steel plant contractor Phoenix Services' plan for a $150 million Chapter 11 conversion of prepetition debt to a new post-petition loan in tandem with a $50 million, case-financing debtor in possession loan.
September 27, 2022
Pennsylvania-based global steel mill contractor Phoenix Services and eight affiliates sought Chapter 11 protection in Delaware on Tuesday with $587 million in secured debt and plans for a restructuring.