GSE Environmental, Inc. announced that the US Bankruptcy Court for the District of Delaware has approved its Disclosure Statement filed in connection with the Company's proposed Joint Plan of Reorganization (the "Plan").
GSE Environmental, Inc. announced that the US Bankruptcy Court for the District of Delaware has approved its Disclosure Statement filed in connection #
The Court's approval of the Disclosure Statement allows the Company to begin the Plan voting process, leading to a confirmation hearing scheduled for July 25, 2014 and the Company's expected emergence from bankruptcy shortly thereafter. Following the completion of the restructuring process, GSE will continue to operate as a going concern and will reduce its funded indebtedness by more than $172 million.
GSE Environmental, Inc. announced that the US Bankruptcy Court for the District of Delaware has approved its Disclosure Statement filed in connection #
Charles Sorrentino, GSE's Director and Chief Executive Officer said, "GSE is very pleased to have obtained approval of its Disclosure Statement today. We are committed to completing our reorganization as quickly as possible and are targeting emergence from bankruptcy shortly after our Confirmation Hearing. Our financial restructuring is critical in positioning us for the future by providing a significantly improved capital structure. I am confident that with the continued support of our dedicated employees, suppliers, and customers, GSE will emerge from this reorganization as a stronger, more competitive company."
GSE Environmental, Inc. announced that the US Bankruptcy Court for the District of Delaware has approved its Disclosure Statement filed in connection #
As previously announced, the Plan is supported by 100% of the Company's first lien lenders who have agreed to convert all outstanding first lien debt to equity, leaving the Company well-positioned for long-term growth as a leading manufacturer and marketer of geosynthetic lining solutions.
GSE Environmental, Inc. announced that the US Bankruptcy Court for the District of Delaware has approved its Disclosure Statement filed in connection #
Kirkland & Ellis LLP is serving as the Company's legal advisor and Moelis & Company is serving as the Company's financial advisor. The first lien lenders are represented by Wachtell, Lipton, Rosen & Katz.
GSE Environmental, Inc. announced that the US Bankruptcy Court for the District of Delaware has approved its Disclosure Statement filed in connection #
About Gse Environmental
GSE is a global manufacturer and marketer of geosynthetic lining solutions, products and services used in the containment and management of solids, liquids and gases for organizations engaged in waste management, mining, water, wastewater and aquaculture.
GSE Environmental, Inc. announced that the US Bankruptcy Court for the District of Delaware has approved its Disclosure Statement filed in connection #
GSE has a long history of manufacturing quality geosynthetic lining systems and developing innovative products. The Company's principal products are polyethylene-based geomembranes, geonets, geocomposites, geosynthetic clay liners, concrete protection liners and vertical barriers. GSE manufactures products primarily to line or cap hazardous and non-hazardous waste landfills, contain materials generated in certain mining processes, and contain water, liquid waste and industrial products in ponds, tanks, reservoirs, sewers and canals. Headquartered in Houston, Texas, USA, GSE maintains sales offices throughout the world and manufacturing facilities in the US, Chile, Germany, Thailand, China and Egypt.
GSE Environmental, Inc. announced that the US Bankruptcy Court for the District of Delaware has approved its Disclosure Statement filed in connection #
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