Case filing & court posture: GO Lab, Inc. (d/b/a TimberHP) filed for chapter 11 protection on March 25, 2025 in the District of Delaware (Dkt. 1) following cost overruns and construction delays at its Madison, Maine manufacturing facility and the withdrawal of a prospective buyer. Judge Karen B. Owens presides over Case No. 25-10557.
Liquidity & financing path: An ad hoc group of FAME Green Bond holders provided a $10 million DIP facility at 9.5% interest, structured to convert to exit financing upon emergence. Dkt. 40 Interim DIP order entered March 26, 2025; Dkt. 85 final DIP order entered April 16, 2025.
Restructuring outcome: The debtors pursued a prenegotiated plan-based reorganization. Dkt. 163 The First Amended Combined Disclosure Statement and Joint Chapter 11 Plan was confirmed on June 10, 2025, just 77 days post-petition.
Plan effective date & post-confirmation: The plan became effective on June 23, 2025 (Dkt. 173). Participating Green Bond holders received Exit Green Bonds and new equity; Cianbro received over $8M on its mechanic lien; general unsecured creditors received 10% recovery; bridge loans and equity interests were cancelled.
Current status: Dkt. 203 Final decree entered August 5, 2025, closing the case 133 days after filing.
