On August 6, 2022, OSG Group Holdings, Inc., which offers transactional, advertising, and fee options to numerous industries, filed a petition for reduction beneath Chapter 11 of the Chapter Code within the Chapter Court docket for the District of Delaware (Case No. 22-10718). The corporate additionally filed a prepackaged plan of reorganization. Beneath the plan, OSG’s secured debt and unsecured notes would obtain a mix of recent and refinanced debt and considerably all reorganized fairness, whereas unsecured claims would obtain fee in full or be reinstated. The corporate stories $500 million to $1 billion in belongings and $1 to $10 billion in liabilities.
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Cole Schotz’s nationally famend Bankruptcy & Corporate Restructuring group practices in Delaware, Maryland, New Jersey, New York, and Texas.
