Bankruptcy News

We've summarized the latest docket activity and news for publicly traded companies currently operating under U.S. Bankruptcy Court protection.

Bankruptcy/Chapter 11 / Banks

Mercantile Bancorp Plan Filed, Confirmed

Mercantile Bancorp filed with the U.S. Bankruptcy Court a Second Amended Chapter 11 Plan of Liquidation. A related Disclosure Statement was not filed as a result of the Court’s May 1, 2014 approval order. According to the documents filed with the Court, “The Debtor believes that the Plan provides the best recoveries possible for holders of Allowed Claims and strongly recommend that, if such holders are entitled to vote, they vote to accept the Plan.” The Court subsequently issued an order confirming the Second Amended Chapter 11 Plan. Mercantile Bancorp blamed its bankruptcy filing on the “unprecedented deterioration of the financial markets in 2007 and 2008.” The Plan became effective, and the Company emerged on June 30, 2014. This bank holding company filed for Chapter 11 protection on June 27, 2013, listing $929 million in total assets.

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