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

SG Blocks Chapter 11 Petition Filed

SG Blocks and two affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 15-12790. The Company, which designs and builds code-engineered, modified cargo shipping containers to meet the demand for safe and green construction, is represented by Gerard R. Luckman of SilvermanAcampora. According to documents filed with the Court, "[S]ince the formation of SG Blocks in 2011, the Debtors have focused on expanding their business and securing contracts with new customers. The Debtors, as relative newcomers to the industry offering a novel product, have been slow to gain traction with some of their larger target customers, such as fast food restaurants, retail locations, and the U.S. military….[T]he Debtors believe that, with some additional time and the ability to restructure their debts and obtain additional financing, the Debtors can emerge from a chapter 11 case as successful and profitable companies."

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