SRBA attorneys wrap up Great Southern Galvanizing plant bankruptcy, auction, and 58% distribution to unsecured creditors, in less than 7 months.

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On October 19, 2018, the Honorable Douglas D. Dodd entered the Court's Order for Structured Dismissal of Chapter 11 Case and for Related Relief, thereby authorizing the Debtor to pay all its administrative and priority creditors 58% of its general unsecured claims. SRBA's attorneys processed the entire case - from the filing of the petition, through the sale of the plant, to the structured dismissal - in less than seven months. While initial estimates of the unsecured creditors' recovery appeared relatively low, working closely with management, SRBA was able to initiate a "first-day" sale process that culminated in a significant payout for creditors, fully retiring the secured debt and servicing 58% of unsecured creditors' claims.