Category: Bankruptcy Updates

Energy Conversion Devices Files Chapter 11, Seeks Sale

Energy Conversion Devices, a provider in materials science and renewable energy technologies, has filed for Chapter 11 in Michigan, and is seeking to sell some of its businesses. The company has retained the investment banking firm Quarton Partners to manage the sale process.

Real Mex Board Accepts Noteholder Bid to Acquire Company’s Assets

Real Mex Restaurants’ board has approved a bid to acquire virtually all assets of the company and its subsidiaries from a newly created entity associated with certain of the company’s noteholders including affiliates of Tennenbaum Capital Partners, Z Capital Partners and J.P. Morgan Investment Management.

Beacon Power Assets to be Sold to Rockland Capital

Rockland Capital will acquire Beacon Power’s 20-megawatt flywheel energy storage plant in Stephentown, NY, and most of the other assets of the company. Rockland Capital was the successful acquirer among several energy and technology firms that vied for the opportunity following Beacon’s Chapter 11 bankruptcy filing.