New Chapter 11 Filing - Chellino Crane Inc.

Chellino Crane Inc.

  • 5/5/17 Recap: Illinois-based heavy crane operating company that services refineries, power and chemical plants filed for bankruptcy under the weight of its outstanding debt on equipment and union obligations. The downturn in the oil and gas industry, unfortunately, led to projected revenue misses and a liquidity crisis. The filing is meant to address the capital structure and equipment footprint.
  • Jurisdiction: N.D. of Illinois
  • Capital Structure: $51.6mm secured debt (First Midwest)    
  • Company Professionals:
    • Legal: Sugar Felsenthal Grals & Hammer LLP (Jonathan Friedland, Elizabeth Vandesteeg, Jack O'Connor, Nicole Stefanelli, Leland Chait)
    • Financial Advisor: Conway MacKenzie Inc. (Jeffrey Zappone, J. Kotas, J. Marek)
    • Investment Banker: FocalPoint Securities LLC (Michael Fixler, Bryant Yu, Clinton Miyazono, Patrick Shin)
    • Claims Agent: Epiq Bankruptcy Solutions LLC (*click on company name above for free docket access)
  • Other Parties in Interest:
    • Prepetition Lender & DIP Lender: First Midwest
      • Legal: Foley & Lardner LLP (Mark Prager)
    • Official Committee of Unsecured Creditors
      • Legal: Brown Rudnick LLP (Gerard Cicero, Bennett Silverberg) & (local) Freeborn & Peters LLP (Shelly DeRousse, Devon Eggert, Elizabeth Janczak)
      • Financial Advisor: Emerald Capital Advisors (John Madden, Christopher Saitta)

Updated 8/26/17