Enviva Inc., the world's largest producer of industrial wood pellets, filed for Chapter 11 protection on March 12, 2024 in the Eastern District of Virginia (Case No. 24-10453) before Judge Brian F. Kenney. The company operates nine pellet production plants across six southeastern U.S. states and exports to the UK, EU, and Japan. Distress was driven by near-term covenant and maturity pressure, a January 2024 board decision to skip a $24.4 million interest payment on 6.5% Senior Notes due 2026, and disputes with customer RWE over Q4 2022 contract transactions (alleged damages >$370M). An Ad Hoc Group of creditors committed a $500 million DIP (SOFR + 800 bps, no roll-up) approved May 2024. The First Amended Plan, confirmed November 14, 2024, featured a creditor-backed rights offering (target $250M+), backstop premium ($29.37M equity), DIP Tranche A equity participation election, $1.05B exit facility, and post-effective litigation trust. Emerged December 6, 2024, equitizing ~$1B of debt, with American Industrial Partners as largest shareholder; new leadership: Glenn Nunziata (CEO), James Geraghty (CFO).