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 / Transportation

GSE Environmental Plan Effective

GSE Environmental's Modified Joint Chapter 11 Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection. The Court confirmed the Plan on July 25, 2014. GSE Environmental exits bankruptcy with a significantly reduced debt load, enhanced liquidity and the support of its new owners: Littlejohn & Co. and Strategic Value Partners. Chuck Sorrentino, chief executive officer of GSE Environmental, comments, "Our new capital structure and substantially stronger balance sheet help position our company for long-term growth and profitability. Our global footprint, portfolio of innovative products and attractive end markets contribute to our optimistic outlook for the future. For over four decades, GSE has consistently provided durable, dependable geosynthetic lining products while demonstrating product and service innovation." The Company's board of directors will be controlled by Littlejohn & Co.This environmental container provider filed for Chapter 11 protection on May 4, 2014, listing $266 million in pre-petition assets.

Read more Bankruptcy News