TPC Group Inc.

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Case overview

Case Number:

1:22-bk-10493

Court:

Delaware

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

April 19, 2023
TPC Texas MDL Survives Without Veil-Piercing, Judge Says

A Delaware bankruptcy judge gave the green light to multidistrict litigation tort claims in Texas state court against sponsors of TPC Group Inc.'s Chapter 11 plan, which stems from plant explosions in November 2019, saying the plaintiffs' latest complaint "sufficiently removes all allegations of veil piercing."
February 23, 2023
Judge OKs Some Blast Claims Against TPC Ch. 11 Sponsors

Some multidistrict litigation tort claims in Texas seeking damages from sponsors of TPC Group Inc.'s Chapter 11 plan arising from plant explosions in November 2019 can proceed, a Delaware bankruptcy judge has ruled, unless the claims are an exclusive property of the company.
December 02, 2022
Interest Rates Doom Lender, Crypto Winter Persists

Rising interest rates forced a reverse mortgage lender into Chapter 11, cryptocurrency platform BlockFi succumbed to the downfall of exchange FTX Trading, and FTX itself faced calls for an examination of its collapse. This is the week in bankruptcy.
November 30, 2022
TPC Group Ch. 11 Plan Confirmed With $30M Creditor Deal

The Chapter 11 plan of petrochemical maker TPC Group Inc. received bankruptcy court approval in Delaware Wednesday after the debtor announced a series of changes to the plan to resolve outstanding objections to the proposal.
November 09, 2022
TPC Group Can Solicit Creditor Votes On Updated Ch. 11 Plan

TPC Group Inc. overcame objections from a creditor on Wednesday to win court approval of supplemental disclosures on changes to its Chapter 11 plan, putting the insolvent Houston-based petrochemical maker on track for a confirmation hearing at the end of November.
November 07, 2022
US Trustee Warns Of 'Hidden' Releases In TPC Ch. 11 Plan

The U.S. Trustee's Office on Monday asked a Delaware bankruptcy judge to reject TPC Group's proposed Chapter 11 plan, saying that, among other flaws, it contained "unclear" language that could allow "hidden" third-party liability releases.
October 25, 2022
Supplier In TPC Explosion Case Objects To Ch. 11 Plan

A chemical supplier for debtor TPC Group Inc. objected to the company's proposed Chapter 11 plan late Monday, saying it doesn't provide for the preservation of corporate records that are critical to the supplier's defense in multidistrict litigation over an explosion at one of TPC's Texas plants.
October 07, 2022
BakerHostetler Accused Of Fraud, Jones Asks For New Hire

Alliance Health's liquidating trustee alleges a law firm helped a $100 million fraud scheme, the Alex Jones-controlled Free Speech Systems needs a new leader, and satellite operator Intelsat SA escapes from a $400 million contract dispute. This is the week in bankruptcy.
September 29, 2022
TPC Group Resolves Objections To $450M Rights Offerings

Texas-based petrochemical maker TPC Group Inc. on Thursday resolved all objections to two backstop rights offerings that underpin its Chapter 11 plan, paving the way for the company to access $450 million of capital commitments to help put its restructuring plan into effect.
September 23, 2022
Boy Scouts Appeals Roll In, Alex Jones Ch. 11 Attys Nixed

More than a dozen insurers commenced appeals of the Boy Scouts of America's confirmed Chapter 11 plan, proposed attorneys and advisers in an Alex Jones-linked bankruptcy were disqualified, and talc injury claimants questioned the good faith of Johnson & Johnson's talc unit in filing for bankruptcy. This is the week in bankruptcy.

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