Cocoa Services, L.L.C.

Cocoa Services, L.L.C. filed Chapter 11 in SDNY on July 14, 2017, listing $10 million to $50 million in assets, $10 million to $50 million in liabilities, and 100-199 creditors. The case covers Cocoa Services and affiliate Morgan Drive Associates, both wholly owned subsidiaries of Transmar Commodity Group; Cocoa Services ran a Logan Township, New Jersey cocoa liquor and butter tolling facility, while Morgan Drive owned the real estate. Bank of the West held roughly $5.31 million of secured debt against Cocoa Services, and Lyons Cocoa held about $2.02 million on an unsecured note source filing source filing.

The restructuring path is now a liquidating plan rather than an operating reorganization. After an auction process, the court approved a $8.39 million sale of substantially all assets to Carlyle Cocoa, with $6.195 million allocated to Cocoa Services assets and $2.195 million to Morgan Drive assets, while Bank of the West’s asserted $5.31 million collateral position was segregated from closing proceeds source filing. The confirmed joint plan distributes sale proceeds and remaining assets through separate debtor estates, with impaired unsecured classes voting and equity deemed to reject; the confirmation order appoints Myron R. Lottman as plan administrator, shifts remaining causes of action to him, and leaves the debtors in existence only for limited post-confirmation purposes source filing source filing.