On July 30, 2019, syncreon Automotive (UK) Ltd. (“Debtor”) filed a petition pursuant to Chapter 15 of the Bankruptcy Code for recognition by the Bankruptcy Court for the District of Delaware of a foreign proceeding before the High Court of Justice of England and Wales (Lead Case No. 19-11702-BLS). According to the accompanying declaration and exhibits thereto, the Debtor is a leading logistics services provider to technology and automotive manufacturers across the world, and the Debtor is part of a complex corporate structure involving cross-guarantees of debt obligations. In the UK proceeding, commenced under Part 26 of the Companies Act of 2006, the Debtor seeks to reduce its $1.1 billion funded debt load by approximately $625 million. The case has been assigned to the Honorable Brendan L. Shannon.
Cole Schotz does not represent the Debtors in this case. We are posting this for informational purposes only. If you have received a notice and have any questions, you should contact Debtors’ counsel.