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Isabel reichhold chemical bankruptcy

isabel reichhold chemical bankruptcy

Thermoset resins and composites supplier Reichhold Inc. has filed for bankruptcy. Durham, N.C.-based Reichhold — a leading supplier of unsaturated polyesters and vinyl esters used in composites —. Feb 02,  · A bankruptcy judge in Delaware last month approved the sale of Reichhold’s business, partly in exchange for $46 million in junior secured debt. . Reichhold, one of the world’s largest manufacturers of unsaturated polyester and coatings resins, has filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court for the District of Delaware. The. isabel reichhold chemical bankruptcy

They are taking over the company by forgiving some of its debt. Unsecured creditors had protested the auction plan and financing on the grounds they amounted to rigging the bankruptcy process in favor of the senior bondholders. Reichhold denied the allegations and said the bondholders involved in the bidding have made an offer that means money for unsecured creditors and jobs saved for workers.

Based in Durham, N. The company sought chapter 11 protection on Sept. Assets outside the U. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at or visit www.

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By continuing or closing this message you agree to the use of cookies. Make sure you don't miss any Law breaking news. Download our plug-in for Chrome to get customizable, real-time news alerts. Bankruptcy Judge Mary F. Walrath said she was worried that the interim DIP facility would entrench bondholders of Reichhold's nondebtor international affiliates as the stalking horse bidder, but agreed to sign off on the package because better terms were not available.

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