New Delaware Chapter 11 Filing – Welded Construction, L.P.
Welded Construction, L.P., along with its affiliate, Welded Construction Michigan, LLC, has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-12378). The Petition estimates Welded’s assets and liabilities to both be between $100 – $500 million. Welded, headquartered in Perrysburg, Ohio, is a pipeline construction contractor and provides related specialty services. According to the First Day Declaration, Welded has filed after facing a series of short-term setbacks, including cost overruns, delays on ongoing projects and significant payment disputes. Welded is seeking approval of $20 million in DIP financing to be provided by North American Pipeline Equipment Company, LLC. Kurtzman Carson Consultants is the proposed claims and noticing agent. The cases have been assigned to the Honorable Kevin Gross.
Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter.
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As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.
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