Aphex BioCleanse Systems filed a voluntary petition under Chapter 11, subchapter V of the U.S. Bankruptcy Code. The petition was filed on May 12 in the United States Bankruptcy Court Middle District of Florida, Tampa Division.
The American Bankruptcy Institute’s asset sales committee named Keen-Summit Capital Partners the winner of the asset sale of the year award for its sale of the 6,400-acre Big Horn ranch in the Chapter 11 proceeding of Lighthouse Resources.
Cypress Environmental Partners filed for Chapter 11 bankruptcy protection and reached a restructuring support agreement with its priority senior secured lender, an affiliate of Argonaut Private Equity, that is expected to clear approximately $58 million worth of debt.
Armstrong Flooring, a designer and manufacturer of flooring solutions, filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.
Total U.S. bankruptcy filings in April 2022 decreased 21% from last April, according to data provided by Epiq Bankruptcy. Commercial filings decreased 16% in April 2022, as the 1,761 filings were down from the 2,105 commercial filings registered in April 2021.
EYP reached an agreement through which Ault Alliance would serve as a stalking horse for the purchase of substantially all of the assets of the company for $67.7 million, plus the assumption of significant liabilities associated with ongoing operations.
ION Geophysical filed for voluntary Chapter 11 relief in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division. The company also secured $2.5 million in debtor-in-possession financing.