Vertellus Specialties

The firm was co-counsel to the ad hoc group of lenders in the chapter 11 case of an Indianapolis-based chemical company Vertellus Specialties Inc., a leading provider in specialty chemicals. Vertellus placed its U.S. operations under chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of Delaware in early June 2016. At the same time, the court granted an order for a group of lenders to provide a term loan in the amount of $110 million for Vertellus to pay off more than $80 million in debt and finance the company’s operations during the sale process.