Ascend Performance Materials Initiates Chapter 11 Cases in Texas

Chemicals firm Ascend Performance Materials has initiated Chapter 11 bankruptcy cases in the US Bankruptcy Court for the Sotuehrn District of Texas.

• Ascend received commitment for $250 million in debtor-in-possession financing from lenders
  • Funding seen providing company with sufficient liquidity to support it through Chapter 11 process
• Ascend’s subsidiaries outside the US are not included in the filings
• Company to operate as usual throughout the process and doesn’t expect any impact to product availability ot customer contracts
• Company aims to complete process in about 6 months
• NOTE, March 7: Chemicals Company Ascend Performance Gets Rescue Financing

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