Skip to main content

Ask
Past questions
Search
Hearings
Cases
Datasets
Blog
Pricing
Docs

Old BPR LLC Bankruptcy Case

Old BPR LLC

Case No. 25-10472 · Delaware · Petition Date Mar 16, 2025

Ask about this case Track this case View full case profile Get updates on this case

OverviewFilingsHearings PartiesFinancials

Debtor-reported assets and liabilities

Sum across 3 current debtor filings. Not a consolidated statement. Unaudited.

Assets$7,377,013.78
Liabilities$366,459,869.82

Latest Form 206Sum filed Apr 18, 2025.

Updated Mar 10, 6:49 AM ET

Latest development

SaleMay 13, 2025

Court approves Brightmark asset sale to affiliate-backed purchaser

The court approved the sale of substantially all assets of Brightmark Plastics Renewal LLC and affiliates to Brightmark Plastics Ashley HoldCo LLC, finding the purchaser submitted the highest and best qualified bid after a May 7 auction and authorizing the assets to transfer free and clear of liens, claims, encumbrances and interests under the sale order. The order also approved assumption and assignment of designated contracts and leases and found the buyer entitled to section 363(m) good-faith purchaser protections.

The attached APA sets aggregate consideration at $27.1 million: $14.25 million cash, a $7.0 million DIP credit bid, and $12.6 million of assumed liabilities. The $750,000 deposit is credited at closing, and the closing must occur by May 16, 2025 unless the seller parties agree to extend. This shifts the case from marketing and auction execution to closing mechanics, contract assignment, and residual estate recovery issues.

Key Professionals

Investment Banker

SSG Advisors, LLC

Claims Agent

Omni Agent Solutions, Inc.

Chief Restructuring Officer

Verdolino & Lowey, P.C.

Chief Restructuring Officer

Verdolino & Lowey, P.C. (and Craig R. Jalbert, CRO)

Coverage

Bloomberg Law·Jan 9, 2026

Brightmark Settles With Parent, Bond Trustee to End Bankruptcy

Resource Recycling·Jun 3, 2025

In Brightmark bankruptcy, parent firm wins auction bid (Resource Recycling, 2025-06-03)

Resource Recycling·May 29, 2025

Brightmark bankruptcy: Parent company wins auction bid (Resource Recycling, 2025-05-29)

Waste Dive·May 1, 2025

Brightmark retains Indiana chemical recycling facility through bankruptcy auction (Waste Dive, 2025-05)

SSG Capital Advisors·May 1, 2025

SSG Advises Brightmark Indiana in the Sale of Substantially All ...

Law360·May 1, 2025

Brightmark Parent's $14.25M Bid Favored Over Higher Offer (Law360, 2025-05)

Resource Recycling·Apr 16, 2025

Brightmark Indiana auction advances post-bankruptcy

Resource Recycling·Mar 19, 2025

Brightmark defaults on Indiana bonds, pursues facility sale (Resource Recycling, 2025-03-19)

Chemical & Engineering News (ACS)·Mar 1, 2025

Sustainable polymer makers Danimer, Brightmark file for bankruptcy

Plastics News·Mar 1, 2025

Brightmark's Indiana chemical recycling site enters Chapter 11 (Plastics News, 2025-03)

ChemAnalyst·Mar 1, 2025

Brightmark's Subsidiaries Declare Bankruptcy Amid Chemical Recycling Debt Crisis (ChemAnalyst, 2025-03)

Bloomberg Law·Mar 1, 2025

Indiana Plastic-to-Fuel Plant Defaults on Muni Green Bonds (Bloomberg Law, 2025-03)

Beyond Plastics·Jan 1, 2025

Unproven "Advanced Recycling" Facilities Have Received Millions in Public Subsidies (Beyond Plastics, 2025)

Lux Research·Jan 1, 2025

The State of Advanced Plastic Recycling 2025 (Lux Research, 2025)

Resource Recycling·May 1, 2024

Chemical recycling firm plans $950 million facility (Resource Recycling, 2024-05-01)

Inside Climate News·Apr 26, 2024

A Giant Plastics Chemical Recycling Plant Planned for Pennsylvania Died After Two Years. What Happened?

Beyond Plastics·Mar 6, 2024

One of the 11 Constructed Chemical Recycling Facilities in the United States Shuts Down

Fuels and Lubes Asia·Jan 1, 2024

Pyrolysis recycling technology: Promises and challenges in 2024 (Fuels and Lubes Asia, 2024)

Chemical Engineering·Jan 1, 2024

Chemical Recycling is Essential for Plastics Circularity, but Faces Challenges (Chemical Engineering, 2024)

Inside Climate News·Jun 16, 2023

Inside Indiana's 'Advanced' Plastics Recycling Plant: Dangerous Vapors, Oil Spills and Life-Threatening Fires (Inside Climate News, 2023-06-16)

Case No.: 25-10472
Court: Delaware
Judge: Laurie Selber Silverstein
Petition Date: Mar 16, 2025
Assets: $1,000,001-$10 million
Liabilities: $1,000,001-$10 million
Industry: Environmental Services, Manufacturing
Debtors: 3

Brightmark Plastics Renewal LLC is an indirect subsidiary of Brightmark LLC, headquartered in San Francisco, California. The company operates a plastics recycling circularity center in Ashley, Indiana, which utilizes proprietary technology to convert post-consumer and post-industrial plastic waste into pyrolysis oil, branded as PyBright™. The facility, which commenced sales in 2023, has a nameplate capacity of 100,000 tons per year and employs approximately 113 individuals through its services affiliate.

Old BPR LLC, formerly Brightmark Plastics Renewal LLC, operated an advanced plastics recycling Circularity Center in Ashley, Indiana using proprietary pyrolysis technology to convert plastic waste into PyBright pyrolysis oil, with a nameplate capacity of 100,000 tons per year but operating at only approximately 5% capacity. The San Francisco-headquartered company employed approximately 113 people at filing. BPR filed for Chapter 11 protection on March 16, 2025 in Delaware (Case No. 25-10472) before Judge Laurie Selber Silverstein after missing a $12.9 million principal and interest payment on its $172.5 million Series 2019 Indiana Finance Authority green bonds on March 1, 2025. The facility — which cost $260 million to build — never operated as intended, requiring substantial re-engineering after the hydrotreater and fractionator systems failed, while consuming $3.5-4.0 million monthly in operational costs. Parent company Brightmark LLC had contributed over $211 million in equity (including $44.6 million in 2024) before ceasing support in early February 2025. The Debtors obtained a $13 million DIP facility from Brightmark Plastics Ashley Holdco LLC (a parent affiliate) at 12% interest. After a competitive 26-round auction attracting four qualified bidders, Brightmark LLC (parent) acquired substantially all assets for $14.3 million cash, preserving going-concern operations and assuming environmental liabilities, over UMB Bank's $17.3 million credit bid that would have resulted in liquidation. The case remains in post-sale wind-down with court-ordered mediation between the Debtors and UMB Bank over disputed sale proceeds.