Phoenix Services Topco, LLC

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Case overview

Case Number:

1:22-bk-10906

Court:

Delaware

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

  1. June 21, 2023

    Phoenix Services Gets Approval For Ch. 11 Debt Swap Plan

    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.

  2. May 11, 2023

    Phoenix Services OK'd To Seek Votes On Debt-Swap Plan

    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.

  3. October 25, 2022

    Equipment Lessors Object To Phoenix DIP Liens

    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.

  4. September 28, 2022

    Ch. 11 Cheat Sheet: Phoenix Services Topco LLC

    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.

  5. September 28, 2022

    Del. Judge Balks At Phoenix Services $150M DIP Roll-Up

    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.

  6. September 27, 2022

    Steel Mill Contractor Hits Ch. 11 In Del. With $587M Debt

    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.