April 21, 2025
Business automation group Exela Technologies told a Texas bankruptcy judge Monday that while it resolved unsecured creditor objections to final approval of its $185 million debtor-in-possession loan, it is still facing pushback from a faction of DIP lenders.
April 17, 2025
A Texas bankruptcy judge gave Excela Technologies the go-ahead for a $5 million transaction as a stopgap while the payment processing company works to resolve objections to the final order for its proposed $185 million in Chapter 11 financing.
March 27, 2025
Competing businesses, a ratings downgrade in 2019, impacts from the COVID-19 pandemic and a 2022 network outage led automation service business Exela Technologies to seek bankruptcy protection in early March this year, with a prearranged Chapter 11 reorganization that will be funded by noteholders.
March 11, 2025
A business automation firm, a dermatology technology maker and a telecommunications business software group all filed for Chapter 11 with debt-for-equity swap plans. A Tex-Mex restaurant chain filed for Chapter 11 in the face of macroeconomic pressures. An energy industry engineering firm filed for bankruptcy after trade debt bogged down merger or sale efforts. A Missouri car transporter is looking to liquidate in Chapter 7, and two real estate companies filed for Chapter 11 in New York.
March 04, 2025
A Texas bankruptcy judge granted about 60 units of business process automation company Exela Technologies Inc. interim approval to access a $185 million lending facility to finance their Chapter 11 bankruptcy cases, in which the debtors hope to refinance their more than $1.3 billion of debt.