WORCESTER 508-471-3018
Metro West 508-709-0024

Plastics company files for Chapter 11 bankruptcy

A plastics company in another state recently decided to file for bankruptcy. Its Chapter 11 bankruptcy filing comes as the company finds itself with more liabilities than assets. A company in Massachusetts that is struggling with large amounts of debt may be able to take advantage of this type of bankruptcy protection, which can offer benefits long term.

In the case of the plastics company, the company has a large plant in another state that remains unfinished. The billion-dollar plant was in the last stages of a project spanning 412 acres. However, according to court filings, the company had been struggling financially for a large part of the year.

Based on the bankruptcy filing, the company's liabilities may total as much as $500 million. In addition, the plant is under 85 percent finished. The construction of this plant started back in April of 2013, and it was slated to be completed in December of 2015. According to the company, the construction delays stemmed from unanticipated construction costs and disputes with construction and engineering firms that led to $196 million in mechanics' liens. In addition, Hurricane Harvey adversely impacted the project when it slammed through the region.

Sometimes companies in Massachusetts and elsewhere find themselves in financial trouble due to a struggling economy or other factors beyond their control. Fortunately, Chapter 11 bankruptcy may help them to get onto paths of financial recovery. Through this type of bankruptcy protection, companies can reorganize their debt and thus be in a better position to grow and thrive in the years ahead.

Source:, "M&G files bankruptcy, puts Corpus Christi plant up for sale," Chris Ramirez, Oct. 31, 2017

No Comments

Leave a comment
Comment Information
Email Our Team

Contact Us Today To Learn More

The skilled attorneys at SederLaw stand ready to handle even your most difficult legal issues. Turn to us for skilled representation to help you accomplish your legal goals.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

An Impressive Track Record
Of Achievement In The Law


Worcester Office
339 Main Street
Suite 300
Burnside Building
Worcester, MA 01608

Phone: 508-709-0024
Phone: 508-471-3018
Fax: 508-831-0955
Map & Directions

Metro West Office
1900 West Park Drive
Suite 280
Westborough, MA 01581

Phone: 508-471-3018
Fax: 508-831-0955
Map & Directions