M&G Polymers USA, the West Virginia-based American arm of M&G Chemicals (Luxembourg) has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 17-12268). The Petition reports $500 million to $1 billion in assets and $100 million to $500 million in liabilities. It was reported last month that the Mexican chemical company Alpek ceased supplying M&G with inputs due to an outstanding debt of $49 million. First Day Motions have not yet been filed. The case has been assigned to the Honorable Brendan Linehan Shannon.
Contact Norman L. Pernick and Nicholas J. Brannick for more information.