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The court confirmed CCX, Inc.’s amended Subchapter V liquidation plan on October 19, with all voting classes accepting and no confirmation objections filed. CCX had filed on March 27, 2022 as a small-business debtor operating as Braeburn Alloy Steel, a Lower Burrell, Pennsylvania metals processor with reported February 2022 assets of $1.74 million and liabilities of $2.20 million; its first-day declaration described roughly 35 United Steelworkers employees, six non-union employees, minimal secured debt, a forgiven $600,364 PPP loan, and about 13 insured asbestos suits tied to a former division source filing source filing.
The case’s economic center was a fast sale: on May 9, the court approved a sale of substantially all assets free and clear to Braeburn Alloy Steel LLC after no qualified overbid emerged, and the amended plan later stated that the sale closed around May 27 for $1.5 million source filing source filing. The confirmed plan put general unsecured creditors behind administrative claims, funded distributions from sale proceeds, tax refunds and receivables, and left the reorganized/liquidating debtor responsible for quarterly post-confirmation reports and plan payments source filing source filing.
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