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Texas Southern coverage - ElevenFlo

Texas Southern coverage

111 articles

Week of March 16, 2026

Instant Brands: Instant Pot Sold, Lenders Take $390.9M Equity

Instant Brands filed chapter 11 in the Southern District of Texas on June 12, 2023 with roughly $512.3 million of funded debt. The case split into an Instant Pot appliances sale and a failed housewares sale, then emerged on February 27, 2024 as Corelle Brands under lender ownership.

Consumer & retail

Alpine Summit Energy Partners: Liquidating Plan After Asset Sales

Alpine Summit Energy Partners filed chapter 11 in Houston after commodity-price declines and a liquidity squeeze, completed two asset sales, and confirmed a liquidating plan that left unsecured recoveries unresolved.

Energy & natural resources

Envision Healthcare: Dual-Silo Chapter 11 Reorganization

Envision Healthcare's chapter 11 reorganized the AmSurg and EVPS silos separately after KKR's 2018 buyout left the physician staffing group overleveraged amid No Surprises Act pressure, reimbursement cuts, labor inflation, and COVID-era disruption.

PrenegotiatedHealthcare & life sciences

Rhodium Encore: Riot Settlement Drives Liquidation Plan

Rhodium Encore's chapter 11 case in Texas began as a liquidity crisis tied to the Whinstone and Riot dispute. The case ultimately monetized assets, closed a $185 million settlement, and confirmed a liquidating plan that became effective on January 14, 2026.

FreefallTechnology & telecom

Viridis Chemical: Illinois Plant Sale Drives Chapter 11

Viridis Chemical's chapter 11 centers on a fast section 363 sale of its stalled Peoria, Illinois ethyl acetate plant after cost overruns, delays, and market weakness left the debtors non-operational and dependent on cash collateral.

FreefallIndustrials & manufacturing

Ascend Performance Materials Exits Chapter 11 as Lenders Convert $2B Debt to Equity

Ascend Performance Materials, the integrated nylon 6,6 producer, filed free-fall chapter 11 in April 2025 with about $2.014B of funded debt as PA66 prices collapsed amid Chinese overcapacity. It emerged in December 2025 with lenders taking ownership, ending SK Capital's 16-year run.

FreefallIndustrials & manufacturing

Week of March 9, 2026

Mobileum Exits Chapter 11 After Eliminating $530M of Debt in Prepackaged Restructuring

Filed July 23, 2024 in SDTX with an RSA; $60M new-money DIP and $100M roll-up. Emerged Sept 12, 2024 after cutting ~$530M debt.

PrepackagedTechnology & telecom

Zachry: Golden Pass LNG Dispute and Reorganization Plan

Zachry filed May 21, 2024 in SDTX, ran on cash collateral, reached a GPX settlement, and confirmed a plan on Feb 27, 2025.

FreefallEnergy & natural resources

Week of March 2, 2026

Cumulus Media: Second Bankruptcy Filing Proposes $592 Million Deleveraging Through Prepackaged Plan

Cumulus Media's second bankruptcy centers on a Houston prepackaged chapter 11 plan that would cut about million of debt, keep general unsecured creditors unimpaired, and transfer ownership to lender groups.

PrepackagedMedia, sports & entertainment

DRF Logistics: $47M Chapter 11 Winds Down Pitney Bowes GEC Unit

DRF Logistics filed chapter 11 in SDTX Aug. 8, 2024 to wind down Pitney Bowes' GEC unit with a $47M DIP; plan confirmed Nov. 25, 2024.

PrenegotiatedTransportation & logistics

Northvolt Files Cross-Border Chapter 11 With $100M Scania Financing, Later Files in Sweden

Northvolt filed chapter 11 in SDTX on Nov. 21, 2024 with a $100M Scania DIP; affiliate cases were dismissed in April 2025 after asset sale milestones.

FreefallIndustrials & manufacturing

Independence Contract Drilling Files Prepackaged Chapter 11, Eliminating $197M in Convertible Notes

Filed Dec 2, 2024 in SDTX with a prepack plan; notes converted to equity, $32.5M DIP, and exit on Jan 17, 2025 with a $30M revolver.

PrepackagedEnergy & natural resources

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