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Transportation & logistics coverage - ElevenFlo

Transportation & logistics coverage

32 articles

Week of October 5, 2026

airBaltic Seeks Final Approval for €350M Chapter 11 Financing

airBaltic seeks final approval of €350 million in Chapter 11 financing after receiving €140 million in interim borrowing authority. Bondholders contest aircraft collateral priority ahead of a scheduled October 9 hearing.

Brightline Wins Approval for $190M Interim Financing

Brightline's parent-company Chapter 11 cases obtain interim approval for $190 million under a $257.7 million facility, while the Florida train operator remains outside bankruptcy and a $490 million exit financing is proposed.

Week of September 7, 2026

Noble Supply & Logistics Seeks October Auction, November Sale Closing

Noble Supply & Logistics seeks an October 27 asset auction and November 13 closing. Its interim cash-collateral order imposes earlier sale-or-plan milestones while contract and inventory disputes remain unresolved.

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.

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.

Week of May 18, 2026

Spirit Airlines Shuts Down in Second Bankruptcy

Spirit Airlines stopped flying on May 2, 2026. Its second Chapter 11 case shifted from a proposed reorganization to a court-supervised wind-down.

Silver Airways Shuts Down, Converts to Chapter 7

Silver Airways stopped flying in June 2025 after a $5.775M stalking-horse bid drew no rival. The cases converted to Chapter 7 on July 28, 2025.

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.

Week of May 4, 2026

Paladin Capital Advances Chapter 7 Asset Recovery

Paladin Capital’s chapter 7 liquidation advances with September equipment stay-relief orders. An August court notice reports recovered assets and sets a November 16, 2026 claims deadline, without quantifying creditor recoveries.

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.

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.

Week of April 27, 2026

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.

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