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May 5, 2020
Klausner Lumber One reportedly seeks Chapter 11 bankruptcy protection with more than US$100M in debt
On April 30, Klausner Number One filed for Chapter 11 protection in the U.S. Bankruptcy Court, District of Delaware. According to the petition, which is filed under file number 20-11033-KBO, liabilities are expected to exceed US$ 100 million. The US information service Law360 quotes the Chief Restructuring Officer (CRO) and Managing Director of Asgaard Capital Michael Freeman, who was appointed by Klausner, as saying that the management of Klausner Lumber One filed the application in order to sell the company's assets. The lawyer Daniel B. Butz from the law firm Morris Nichols ...
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