ARTICLE
10 February 2015

Notable Exits From Bankruptcy In 2014

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Jones Day

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Notable Exits From Bankruptcy In 2014.
United States Insolvency/Bankruptcy/Re-Structuring
Company Filing Date (Bankr. Court) Conf. Date Effective Date Assets Industry Result
The City of Detroit, Michigan 07/18/2013 (E.D. Mich.) 11/07/2014 CD
12/10/2014 ED
$18 billion (debt) Municipality Adjustment
Edison Mission Energy 12/17/2012 (N.D. Ill.) 03/11/2014 CD
04/01/2014 ED
$8.3 billion Energy Sale
Cengage Learning, Inc. 07/02/2013 (S.D.N.Y.) 03/13/2014 CD
04/01/2014 ED
$7.5 billion Print Media Reorganization
Overseas Shipholding Group, Inc. 11/14/2012 (D. Del.) 07/18/2014 CD
08/05/2014 ED
$4 billion Shipping Reorganization
Genco Shipping & Trading Limited 04/21/2014 (S.D.N.Y.) 07/02/2014 CD
07/09/2014 ED
$3 billion Shipping Reorganization
Momentive Performance Materials Inc. 04/13/2014 (S.D.N.Y.) 09/11/2014 CD
10/24/2014 ED
$2.7 billion Manufacturing Reorganization
Excel Maritime Carriers Ltd. 07/01/2013 (S.D.N.Y.) 01/27/2014 CD
02/14/2014 ED
$2.7 billion Shipping Reorganization
W.R. Grace & Co. 04/02/2001 (D. Del.) 06/11/2012 CD
02/03/2014 ED
$2.6 billion Chemicals Reorganization
(Asbestos Trust)
USEC, Inc.
(n.k.a. Centrus Energy Corp.)
03/05/2014 (D. Del.) 09/05/2014 CD
09/30/2014 ED
$2.3 billion Energy Reorganization
Capital Bancorp Ltd. 08/09/2012 (E.D. Mich.) 01/29/2014 CD
02/03/2014 ED
$2.2 billion Bank Holding Co. Liquidation
Eagle Bulk Shipping Inc. 08/06/2014 (S.D.N.Y.) 09/18/2014 CD
10/15/2014 ED
$1.7 billion Shipping Reorganization
First Mariner Bancorp 02/10/2014 (D. Md.) 12/09/2014 CD $1.4 billion Bank Holding Co. Liquidation
City of Stockton, California 06/28/2012 (C.D. Cal.) 10/30/2014 CD $1.0 billion+ Municipality Reorganization
ITR Concession Company 09/22/2014 (N.D. Ill.) 10/28/2014 CD $1.0 billion+ Toll Road Operator Reorganization/Sale
Mercantile Bancorp, Inc. 06/27/2013 (D. Del.) 06/26/2014 CD
06/30/2014 ED
$930 million Bank Holding Co. Liquidation
MACH Gen LLC 03/03/2014 (D. Del.) 04/11/2014 CD
04/28/2014 ED
$750 million Utility Reorganization
Sorenson Communications Inc. 03/03/2014 (D. Del.) 04/10/2014 CD
04/30/2014 ED
$645 million Telecom Reorganization
Tuscany Int'l Drilling Inc. 02/02/2014 (D. Del.) 05/21/2014 CD
06/09/2014 ED
$645 million Oil Field Services Reorganization
MModal Holdings, Inc. 03/20/2014 (S.D.N.Y.) 07/15/2014 CD
07/31/2014 ED
$626 million Medical Services Reorganization
Furniture Brands International, Inc. 09/09/2013 (D. Del.) 07/14/2014 CD
08/01/2014 ED
$618 million Retail Liquidation
Fiber Tower Corp. 07/17/2012 (N.D. Tex.) 01/27/2014 CD
03/31/2014 ED
$559 million Telecom Reorganization
GMX Resources Inc. 04/01/2013 (W.D. Okla.) 01/22/2014 CD
02/04/2014 ED
$542 million Oil and Gas Explor. Reorganization/Sale
Entegra Power Group LLC 08/04/2014 (D. Del.) 09/19/2014 CD
10/01/2014 ED
$500 million+ Energy Reorganization
Quiznos Corp. 03/14/2014 (D. Del.) 05/12/2014 CD
07/01/2014 ED
$500 million+ Restaurant Reorganization
Fresh & Easy 09/27/2013 (D. Del.) 07/02/2014 CD
07/23/2014 ED
$500 million Retail Sale
Hartmarx Corp. 01/23/2009 (N.D. Ill.) 05/15/2014 CD
06/01/2014 ED
$483 million Apparel Liquidation
The Dolan Company 04/23/2014 (D. Del.) 06/09/2014 CD
06/12/2014 ED
$450 million Information Services Reorganization
Brookstone, Inc. 04/02/2014 (D. Del.) 06/24/2014 CD
07/08/2014 ED
$406 million Retail Sale
Green Field Energy Services Inc. 10/27/2013 (D. Del.) 03/23/2014 CD
05/12/2014 ED
$352 million Oil Field Services Liquidation
Coldwater Creek 04/11/2014 (D. Del.) 09/17/2014 CD
10/01/2014 ED
$346 million Retail Liquidation
Sbarro LLC 03/10/2014 (S.D.N.Y.) 05/19/2014 CD
06/02/2014 ED
$175 million Restaurant Reorganization

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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