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GreenTech Automotive Bankruptcy

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Privately-held GreenTech Automotive and five affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the eastern District of Virginia, case number 18-10651.

The Company, which designs, develops and produces hybrid automobile vehicles, is represented by Kristen Burgers of Hirschler Fleischer. According to documents filed with the Court, “The Debtors’ businesses have reached the point of unsustainability absent utilization of the tools presented by chapter 11. GreenTech has experienced significant adverse developments that have hindered the successful operations of its automobile business, impaired its access to capital, and resulted in difficulties in the advancement of its investors’ permanent residency petitions before the United States government.”

GreenTech Automotive’s Chapter 11 petition indicates assets greater than $100 million.

Read more GreenTech bankruptcy news.

The post GreenTech Automotive Bankruptcy appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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