February 21, 2020
Remnants of bankrupt scrap steel recycler Bayou Steel BD Holdings LLC slid into Chapter 7 Friday after major asset sales fell millions short of amounts needed to pay off secured creditors, legal fees and expenses to close out the case in Chapter 11.
January 22, 2020
The unsecured creditors and owner of Bayou Steel BD Holdings LLC are asking the Delaware bankruptcy court to convert the company's Chapter 11 case to a Chapter 7 liquidation, saying even after a $28 million asset sale, Bayou can't pay its administrative expenses.
November 07, 2019
The federal bankruptcy watchdog objected Thursday to Bayou Steel BD Holdings LLC's proposal to pay incentive bonuses to key employees during its Chapter 11 case, saying the benchmarks the workers have to achieve would be too easy to reach.
November 05, 2019
A Delaware bankruptcy judge on Tuesday denied a bid by a group of terminated employees of Bayou Steel BD Holdings LLC to move the steel mill operator's Chapter 11 to Louisiana, ruling they failed to show it would be too inconvenient for the bankruptcy to remain in the First State.