Powin Bankruptcy: $54M Asset Sales Leave Unsecured Creditors With Sub-5% Recovery
Oregon-based Powin, LLC filed chapter 11 June 9, 2025 in New Jersey after lenders declared defaults and installed an independent manager. FlexGen acquired IP for $36M; total asset sales reached $54M. Unsecured creditors face projected recovery of 0.8% to 4.5%.
FreefallEnergy & natural resources