Articles tagged with: supplier protection

Six Flags Bankruptcy – First Day Motions Docket and Affidavit

The Six Flags Agenda for First Day Hearing looks straight forward enough. The first day motions reveal nothing startling. But when you read the Affidavit of Jeffrey Speed in Support of First Day Pleadings (the “Speed Affidavit”), you get the sense that this bankruptcy has the potential to have twists and turns rivaling a Six Flags roller coaster. 

Metaldyne Bankruptcy – A Dismal Picture for Suppliers

A bleak picture emerges for bankruptcy creditors in this bankruptcy of a top 50 Tier 1 automotive supplier.  Metaldyne Corporation and 30 subsidiaries (collectively referred to as “Metaldyne”) entered bankruptcy with between $60 million and $65 million in outstanding trade payables. A total of $36 million is due to suppliers on the 50 largest unsecured list. That means that smaller suppliers are going to take almost half of the potential loss.