Transportation & logistics coverage

chapter 11 and restructuring coverage across Transportation & logistics.

29 articles

Showing 1 to 12 of 29 coverage articles

Week of June 1, 2026

SWC Industries: $35M Sale to MSI Automate and Asbestos Trust

SWC Industries filed chapter 11 in November 2024, bifurcating 13 debtors into operating and legacy groups. MSI Automate (Grays Peak Capital) acquired the SencorpWhite operations for ~$35M-$40M; the plan established a non-524(g) asbestos trust and went effective May 27, 2025.

Industrials & manufacturing

Jun 6

Crosby Marine Transportation: MCA Crisis Triggers $163M Freefall Filing, $60M DIP Draws Multi-Party Objections

Crosby Marine Transportation and three affiliates filed freefall chapter 11 in E.D. La. after MCA firms redirected customer payments. JMB Capital's $60M DIP with a $30M roll-up of debt acquired days before filing drew objections from PNC Bank, the U.S. Trustee, and four other parties.

FreefallTransportation & logistics

Week of May 18, 2026

May 22

Spirit Airlines Shuts Down After Two Chapter 11 Filings

Spirit Airlines filed chapter 11 on November 18, 2024, and again on August 29, 2025. The airline emerged from its first case after converting $795 million of debt to equity, then ceased operations on May 2, 2026 and began a court-supervised wind-down.

PrepackagedTransportation & logistics

May 22

Silver Airways Shuts Down, Converts to Chapter 7

Silver Airways shut down after a $5.775M lender-backed sale drew no overbid, then converted to Chapter 7 on July 28, 2025.

Chapter 7Travel, leisure & hospitality

May 18

STG Logistics: From Lender Fight to a Consensual Recapitalization Plan

STG Logistics, Inc. reached a May 18, 2026 confirmation hearing in New Jersey on its Second Amended Joint Plan of Reorganization, a lender-backed recapitalization that converts DIP claims to equity and resolves the contested liability management litigation through plan settlements.

PrenegotiatedTransportation & logistics

Week of May 4, 2026

May 6

SAS AB: $1.2B Castlelake-Led Recapitalization and Cramdown of State Hybrid Bonds

Scandinavian airline SAS AB filed chapter 11 in SDNY on July 5, 2022 following a pilot strike and failed out-of-court restructuring. Castlelake led a $1.175B recapitalization; Denmark and Sweden's state hybrid bonds were crammed at zero. Final decree closed March 3, 2026.

FreefallTransportation & logistics

May 5

Paladin Capital: 25-Entity Trucking Portfolio Converts to Chapter 7 in 23 Days

Brentwood, TN-based Paladin Capital filed 25 jointly administered chapter 11 cases in M.D. Tenn. on Jan 26, 2026 and converted to chapter 7 by agreed order on Feb 18, 2026. Truist DIP funded payroll; trustee Jeanne Ann Burton retained Stretto, Newpoint, and Thompson Burton.

FreefallTransportation & logistics

May 4

New England Motor Freight: Letter of Credit Cascade and Dual-Pool Liquidating Plan

New England Motor Freight, a 101-year-old LTL carrier, filed chapter 11 in February 2019 after letters of credit across four banks collapsed. Two affiliates sold to Estes Express for $15M; dual-pool liquidating plan confirmed Jan 2020, returning ~9.5% to NEMF unsecured creditors.

FreefallTransportation & logistics

Week of April 27, 2026

Apr 29

National Railway Equipment: Great Rock's One-Day $2.4M Demand Triggers Chapter 11

National Railway Equipment filed chapter 11 after Great Rock demanded $2.4M in one business day, with a marine-unit sale and recapitalization planned.

FreefallIndustrials & manufacturing

Week of March 30, 2026

Mar 30

Swiftships Files Chapter 11 After Navy Terminates $152.5M LCU 1700 Contract

84-year-old Louisiana shipbuilder Swiftships filed chapter 11 on March 18, 2026 (W.D. La., Case No. 26-50237) after the Navy terminated its LCU 1700 contract in February 2024. The freefall filing followed a December 2025 receivership. Assets and liabilities each $10M–$50M.

FreefallIndustrials & manufacturing

Week of March 16, 2026

Mar 19

Kal Freight: Liquidation Plan, Asset Sales, and Remaining Real Estate

Kal Freight's bankruptcy moved from an operating-restructuring narrative to a lender-controlled liquidation, including Triumph-backed financing, asset sales, a liquidating trust, and a 2026 sale process for remaining real estate.

Chapter 7Transportation & logistics

Mar 19

FLOAT Alaska's New Pacific Sale Stalls After $3.1M Funding Miss

FLOAT Alaska's confirmed plan stalled after Owners Jet missed a $3.1M funding deadline; the case pairs a New Pacific sale with a liquidating trust.

FreefallTransportation & logistics