Daily Management Review

Horsehead Holding Corp. Opts For ‘Voluntary Restructuring’ Under Chapter 11


03/07/2016


One of the Bankruptcy Court of the United Nations registers Horsehead Holding Corporation’s petition under Chapter 11.



In an announcement, Horsehead Holding Corp. Revealed that the company and some of its subsidiaries have filed for “voluntary petitions” under “Chapter 11 of the United States Bankruptcy Code”. The said case has been registered at the Bankruptcy Court of Delaware district.
 
Talking about the said step taken by the company, the C.E.O cum the President, Jim Hensler stated:
“The actions we are announcing today represent an important step that we believe will allow us to restructure the Company’s balance sheet for the long-term. Filing for Chapter 11 protection is the best available option to preserve stakeholder value. We intend to emerge with increased financial flexibility and a capital structure that will enable us to invest in growing our business.”
 
In order to view other information related to the court filings in regards to the restructuring proceedings”, kindly visit:
http://dm.epiq11.com/Horsehead
 
As per the information provided by BusinessWire:
“Lazard Middle Market LLC and RAS Management Advisors, LLC are serving as financial advisors, and Kirkland & Ellis LLP and Pachulski Stang Ziehl & Jones LLP are serving as legal counsel to the Company. Akin Gump Strauss Hauer and Feld LLP and Moelis & Company are serving as legal counsel and financial advisor, respectively, to certain senior secured noteholders and proposed debtor-in-possession lenders”.
 







References:
http://www.businesswire.com/
 







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