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M&G Polymers USA Chapter 11 Bankruptcy

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Privately-held M & G Polymers USA filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, case number 17-12268. The Company, which manufactures polyester resins, is represented by Laura Davis Jones of Pachulski Stang Ziehl & Jones.

Concurrent with the bankruptcy filing, the Company appointed Dennis Stogsdill, a managing director with Alvarez & Marsal, as its chief restructuring officer. On October 17, 2017, M & G Polymers USA’s parent Mossi Ghisolfi Group filed for “concordato preventivo” with the Tribunal of Alessandria, Italy, in accordance with article 161 sixth paragraph of the Bankruptcy Law.

The Italian filing impacts Mossi Ghisolfi Group’s Mossi & Ghisolfi (M&G), M&G Finanziaria, Biochemtex, Beta Renewables, Italian Bio Products, IBP Energia, M&G Polimeri and Acetati Immobiliare companies.

M & G Polymers USA’s Chapter 11 petition indicates total assets greater than $500 million.

Read more M&G bankruptcy news.

The post M&G Polymers USA Chapter 11 Bankruptcy appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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