Global Safety Textiles Holdings LLC (“Global Safety” and, together with 8 domestic and international debtor subsidiaries, the “Debtors”) has filed a consolidated list of the 30 largest unsecured creditors of the Debtors (the “Top Unsecured Creditor List”). This list is remarkable for the small size of the supplier pre-petition claims. The reasons for this phenomenon are explained in detail in the later post discussing certain substantive aspects of this case.
The following is the Global Safety Textiles Top 30 Unsecured Creditor List. The list does not include: (1) persons who come within the definition of “insider”; or (2) secured creditors, unless the value of the collateral is such that the unsecured deficiency places the creditor among the holders of the largest unsecured claims.
|Creditor Name||Claim Type||Claim Amount|
|Dow Corning Corporation||Trade||$511,725.40|
|Polyarnide High Performance, Inc.||Trade||$75,701.00|
|American & Efird, Inc.||Trade||$73,622.77|
|Toyota Tsusho America, Inc.||Trade||$71,148.00|
|Itema America Inc.||Trade||$64,508.90|
|Dominion Virginia Power||Utility||$60,405.51|
|ARC Automotive, Inc.||Trade||$54,295.20|
|Schreiner Label Tech, Inc.||Trade||$30,480.00|
|Komar Apparel Supplier||Trade||$21,404.13|
|Town of South Hill, Virginia||Utility||$11,000.00|
|Standex Engraving Group LLC||Trade||$7,291.00|
|Orange County Industrial Sewing Machine Company||Trade||$6,344.55|
|ABBA Rubber International||Trade||$5,983.00|
|Mayer Textile Machine Corp.||Trade||$4,549.63|
|Reich Logistics Service||Trade||$1,275.00|
For further posts on the Global Textiles Bankruptcy and the ITG automotive safety group, click the “filed under” link below.