Strike is a post-confirmation liquidation case that remains open under the Strike Liquidating Trust, with the latest quarterly reports showing continued plan administration and no final decree yet. Strike and affiliates filed chapter 11 on December 6, 2021 after operational and liquidity pressure tied to project delays, cost overruns, reduced pipeline volumes, COVID-19 disruption, and a capital structure that included a $51 million ABL revolver, $30 million bridge facility, $215 million junior term loan, and about $15.5 million of capital leases, as described in the Gore first-day declarationDkt. 18.
The case was filed around an RSA-driven sale and liquidation path. By the petition date, AIP had emerged as the principal financing and transaction counterparty, acquired the loan position, and agreed to provide both a stalking-horse bid and DIP financing while the debtors pursued an expedited sale process intended to reduce customer and employee attrition, according to the Gore first-day declarationDkt. 18. The plan process culminated in the debtors’ Second Modified Combined Disclosure Statement and Joint Chapter 11 Plan of LiquidationDkt. 1094, followed the next day by the court’s confirmation order approving the disclosure statement and confirming the liquidation planDkt. 1111 on May 17, 2022.
The current posture is implementation of that confirmed liquidation plan, not an operating reorganization. The April 21, 2026 post-confirmation report for Strike, LLC states that the plan became effective June 6, 2022, cumulative professional fees and expenses paid since the petition date total about $28.8 million, administrative claims are effectively paid at 100%, secured claims at 25%, priority claims at 46%, and general unsecured claims remain at 0%, while no application for a final decree has been filed, as reflected in the . Several affiliate reports filed the same day show little or no activity at those entities and likewise indicate that no final decree has been entered, including the and .
