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Following the August 5 first-day hearing, the court authorized Fieldstone to continue using its prepetition cash-management system, bank accounts, and business forms under the cash-management order. The court also entered the employee-obligations order, authorizing payment of employee obligations and directing financial institutions to honor the relief.
The approvals provide the debtor its immediate operating bridge: it can preserve ordinary banking functions and address employee payments while the case proceeds. The cash-management relief follows a stipulation providing for closure of other accounts and movement to a DIP bank account within 14 days, making implementation of that transition the near-term operational item to monitor source filing.
Fieldstone A&E, LLC filed Chapter 11 in the Eastern District of Michigan as case No. 26-48494 and elected treatment as a small business debtor under Subchapter V. The company operates under trade names including Fieldstone Architecture & Engineering, Fieldstone Engineering and Fieldstone Architecture, according to its voluntary petition, which Ryan Rasmussen signed as president.
The petition does not state estimated assets, liabilities or creditor count, making the schedules and statements due August 13 the first expected financial disclosure. The initial Subchapter V plan deadline is October 28, placing the case on the statute’s compressed path toward a consensual or nonconsensual reorganization plan. Professionals should now watch the forthcoming schedules for Fieldstone’s funded-debt structure, creditor concentration and liquidity position, as well as the trustee appointment and first-day relief that will define the company’s operating runway.
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